Former Met Mo Vaughn Takes on Fifth Project With City
BROWNSVILLE — Former Met Mo Vaughn and his partner, Eugene Schneur, the new owners of Drew Ali Plaza in Brownsville, have promised to provide safer and rehabilitated homes for 385 families in the complex.
The announcement of the sale of the complex to Vaughn and Schneur, principals of OMNI New York LLC, by the city came as a welcome note following the recent arrests of 35 people who had been intimidating residents with guns and pit bulls and selling drugs, including heroin, cocaine and marijuana, at the site.
In making their announcement, Housing Preservation and Development (HPD) Commissioner Shaun Donovan and Housing Development Corporation (HDC) President Emily Youssouf said for years Noble Drew Ali Plaza has been known as a housing complex suffering from owner-neglect and crime.
OMNI’s acquisition will result in the preservation and improvement of 385 affordable apartments for low-income New Yorkers as part of Mayor Bloomberg’s $7.5 billion New Housing Marketplace Plan, said Donovan.
“Today we celebrate new hope for the tenants of Noble Drew Ali as we reclaim the complex as safe, quality affordable housing for low-income families,” said Donovan.
“It has taken much hard work and cooperation by the city, the tenants and the community to bring responsible ownership to Noble Drew Ali Plaza and today we begin a hopeful new chapter for these buildings. This is the fifth apartment complex where the city has partnered with Mo Vaughn. He has renovated buildings that had been neglected and they are now model buildings. Their repair and rehabilitation raises quality of life in those neighborhoods and restores hope to the buildings’ tenants.”
Vaughn pronounced it “a great day” for the residents.
“We look forward to bringing responsible ownership to this complex and providing affordable and safer homes to the residents,” he said. “OMNI is committed to repairing the buildings, including new safety and security, while making sure the current tenants will still have affordable rents.
“With the support of Mayor Bloomberg, Councilman Barron, Borough President Marty Markowitz, HPD, HDC, HUD, Brooklyn Legal Aid and the Tenants Association, Noble Drew Ali Plaza will no longer be a name associated with the worst housing in the city but instead with safe and affordable housing.”
Among the financing elements will be low-income housing tax credits, $30 million in tax-exempt bonds issued by the HDC, a low-interest loan through HPD’s HUD Multifamily Preservation Loan Program, and $1 million in Reso A funds from Markowitz. The non-profit ACORN will provide on-site social services for the residents.
“We have had a terrific working relationship with OMNI and HPD on the preservation of four developments in Brooklyn and the Bronx since we began working with them in 2004,” said Youssouf. “There are few clearer examples of the positive results that occur when private dollars are invested in affordable housing”
Background
Noble Drew Ali Plaza was developed on a formerly city-owned site in 1973 by the Brownsville Community Council and the Moorish Science Temple of America. The complex has had a notoriously troubled and complicated history characterized by mismanagement and litigation culminating in Chapter 11 bankruptcy proceedings.
In 1996 Noble Drew Ali (NDA) Housing Corporation acquired the property from HUD for $10, subject to a deed requiring rehabilitation of the property as well as certain use and affordability restrictions. However, NDA Housing Corporation failed to make the necessary repairs or provide essential services.
In March 2005 NDA Housing Corporation filed for Chapter 11 bankruptcy. Because of the poor conditions at the property, by 2006, most of the tenants had stopped paying rent and the property showed signs of neglect and disrepair.
In March 2006 HPD and the Tenants Association began a legal proceeding seeking the appointment of a responsible administrator for the property. In April 2006 an agreement was reached with NDA Housing Corporation requiring the installation of a new management company, Wavecrest Management Ltd. Over the next year HPD worked with the Law Department, HUD and HDC to bring about the sale of the property from NDA Housing Corporation.
OMNI was selected through an RFP process to which several bidders responded.
© Brooklyn Daily Eagle 2007
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