When RAD was established by Congress, NYCHA decided that Ocean Bay, a 1,395-unit public housing complex on the Far Rockaway Peninsula, would be the first public housing property renovated in New York City through the program. RAD allowed NYCHA and its development partners to leverage $560 million in private sector debt and equity and in disaster recovery funds for repairs, all while maintaining the units at Ocean Bay as long-term affordable housing for the community.
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