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PRESENTATION
Relocation process during construction
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The project includes a comprehensive relocation plan for residents during the construction period. This plan aims to minimize disruption to residents' lives while ensuring their safety and comfort.
- Residents are typically relocated for 24 to 30 months during construction.
- The project budget covers the difference between current TIL rents and relocation unit rents until conversion.
- Relocation costs include moving expenses, movers, boxes, tape, and storage.
- Some tenants are relocated early due to concerns about current building safety.
- The project provides co-op success trainers to help residents prepare for homeownership.
- A substantial reserve fund is established to help the building handle unforeseen emergencies.