The acquisition, rehabilitation and management of the Tower Hotel represent the success of taking neglected low income housing units from the private market and placing them under nonprofit ownership for quality and permanent affordable housing. The Tower Hotel entered the Chinatown CDC’s vision in the early 1980s when the previous owners failed to keep the property in decent operating condition and the City cited a condemnation order against the property.
Chinatown Community Housing Corporation — the organization that would later be renamed to Chinatown CDC — structured a partnership for the purchase of the Tower Hotel in January 1983. After acquiring the property, Chinatown CDC rehabilitated the building to correct housing code violations, including installing new electrical and plumbing systems, new kitchens, remodeled bathrooms, and lavatories, space heating and closets in the individual units. Today Chinatown CDC maintains healthy living conditions for residents of the building while also housing our main office on the floors below.
Population: Individuals/Small Families Square Footage: 12,832 Unit Type: 33 SROs Resident Services: Provided by Chinatown CDC
Waiting List: CLOSED
Chinatown CDC Role: Developer, Owner, Manager Unit Type: 34 SROs Funding Sources: Mayor's Office of Housing, HCD, United Savings Bank Contractor: N/A Architect: N/A Construction Type: Rehabilitation Development Cost: $945,069