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Co-Op City gets $621.5 million refinancing deal for repairs, with tenants paying no additional fee

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NEW YORK – Lawmakers announced a city, state and federal partnership to help maintain affordable housing in the Bronx. 

Gov. Kathy Hochul, Sen. Chuck Schumer and local elected officials announced a $621.5 million refinancing agreement for Co-Op City Monday morning. 

The deal will allow the housing development to make necessary repairs without raising maintenance costs for tenants and homeowners. 

“It’s going to mean they can redo this whole place without charging you a nickle,” Schumer said. 

“This is a long-term investment in not just buildings, not just in a place, but in the people,” Hochul said. 

According to the governor, Co-Op City is currently home to 45,000 people. 

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Source: CBS

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