With a track record of success since our establishment in 1988, AND has transformed 22 vacant and underutilized buildings into much-needed housing, as well as constructed five new buildings, including three exclusively for low-income elders. By revitalizing entire blocks that had suffered from neglect and decay during times of widespread disinvestment, we have played a vital role in the restoration and renewal of our communities.
Today we face new housing challenges in Harlem, Northern Manhattan, and throughout New York City. The rapid surge in market-rate residential and commercial development has fueled speculation, escalated rental prices, and led to tenant harassment and displacement. As we enter our fourth decade, AND is committed to confronting these challenges head-on.
We are actively engaged in rehabilitating and refinancing our existing buildings to ensure long-term affordability and enhance the quality of life for our residents. Moreover, we are embarking on new and innovative projects that will expand housing opportunities for all members of our community, including two large-scale NYCHA housing retrofit projects that add 2146 units to our pipeline, further demonstrating our commitment to preserving and improving public housing buildings.