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HUD approves refinancing of Bronx s Co-op City - New York Daily News

The funds from the refinancing will go toward projects like the replacement of water pumps and electrical infrastructure, and elevator replacement in the complex’s parking garages, said Bob Klehammer, executive general manager of Riverbay Corporation, which manages Co-op City.

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Bronx s Co-Op City could get $100M for building repairs if HUD approves: Schumer, Bowman

Bronx’s Co-Op City could get $100M for building repairs if HUD approves: Schumer, Bowman Tim Balk, New York Daily News © Timothy Balk / New York Daily Ne Sen. Chuck Schumer, D-N.Y. (left) and Rep. Jamaal Bowman, D-N.Y. (right) joined local leaders at Co-Op City in the northern reaches of the Bronx on Thursday. Co-Op City in the Bronx could free up $100 million for capital improvements and repairs at the decades-old housing development by pursuing a lucrative loan refinancing deal but the Biden administration first needs to sign off it, according to a couple of New York lawmakers. Sen. Chuck Schumer and Rep. Jamaal Bowman, both Democrats, paid a visit to Co-Op City on Thursday to call on President Biden’s Housing and Urban Development Department to give the cooperative’s board the green light for refinancing a $500 million loan taken out on the sprawling 230-acre complex. The refinancing opportunity is possible in part thanks to a recent dip in interes

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