Episode 6: Reforming Housing, Investing in People & Identifying Contracting Opportunities with Gregory Russ, Chair/CEO, NYC Housing Authority
Today, we are joined by Gregory Russ to talk about how NYCHA is reforming its approach to public housing in New York. Gregory was appointed Chair and CEO of the NYC Housing Authority in 2019. He is a seasoned housing professional with decades of management experience, who has helped to rebuild and strengthen public housing authorities across the country. Gregory begins by laying out the context of the issues New York is facing, where he describes a dysfunctional institutional structure combined with severely undercapitalized housing stock. He touches on the history of NYCHA’s recapitalization issues and the methods they are using to rectify this by reforming their approach in line with the HUD agreement. He breaks down NYCHA’s recent adoption of a property-first mentality, the role of partnerships with investors in growing support, and how programs such as RAD and PACT are being utilized as mechanisms for recapitalization and investment. What Gregory shares is encouraging in terms of the future for NYCHA and public housing in general, so be sure to join for today’s discussion.
Key Points From This Episode:
- An introduction to Gregory, his education, and his career in the public housing sphere.
- What led to Gregory’s position with NYCHA and how the HUD agreement fits into its new approach.
- Issues around a dysfunctional institutional structure and an undercapitalized housing stock.
- How NYCHA is transforming its approach using a property-first mentality.
- Gregory’s thoughts on whether public housing in NYC can be sustained.
- The need to reinvest capital into public housing for it to be sustainable.
- The role of partnerships with investors in strengthening the program.
- Gregory’s assessment of RAD and how it is helping sustain public housing.
- The series of investment options provided by NYCHA’s PACT program.
- Past criticism NYCHA has received around poor maintenance and how they are rectifying this.
- Big achievements Gregory hopes to accomplish with NYCHA in the coming months.
Links Mentioned in Today’s Episode:
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