Newburgh Housing Authority Newburgh, NY
Ironburgh is currently completing the first private ownership renovation of an occupied public housing project in New York State. The project involved the rehabilitation of two buildings consisting of 205-units of public housing owned by the Newburgh Housing Authority. Ironburgh was selected by the Authority to assume ownership based on our long-term commitment to affordable housing and our pledge to keep the Housing Authority as an integral part of the privatization. This property was purchased in August 1999 and the rehabilitation will be completed in June 2000.
The privatization effort has contributed to the revitalization of the icy. For example, the city recently received a higher bond rating from Moody’s Investors Service as result of the privatization. The improved bond rating will allow the city to provide the resources it needs to continue its resurgence.