Summit & Rochdale Village
Summit continues a dynamic and incredibly successful relationship with Rochdale Village since 1992. Rochdale Village is a Mitchell Lama Housing Development located in Jamaica, New York consisting of twenty (20) fourteen (14) story buildings and a total of 5,860 apartments. The community also includes two (2) shopping malls, a large Community Center and a Power Plant.
A City within a City
Rochdale’s layout is based upon the Le Corbusier concept of architectural design and was created to be a "city within a city". This attractive community currently spans 120 acres and provides its residents with open green spaces and the feel of suburbia, within the limits of the urban Jamaica area. When Rochdale Village opened in 1963, it was the largest private housing cooperative in the world.
Rebuilding the Community for the Future
The age and size of Rochdale mean it is critical to plan for the future with an ongoing capital improvement program. In 2014, MSI helped secure a $130 Million loan for Rochdale which included over $50 Million in repairs. This extensive program included rebuilding the power plant, renovating the shopping malls, repairing roofs and facades, and much more. The work was completed on schedule and under budget, in large part, as a result of Summit's experience in planning and its access to a deep network of experts.
Recently, Summit worked with Rochdale to continue work on critical infrastructure projects. Summit was able to secure an additional $60 Million which will enable Rochdale to complete a host of other work, including replacing its 20,000 convector units for the first time.
Some Recent Financial Accomplishments
$3.1 million in rebates from National Grid
$1.5 million in annual savings as a result of changing the gas classification
Over $1 million in retroactive tax recovery
To get a great feel for our work one just needs to walk through this city within a city and observe the fastidiousness of the grounds and mechanicals. It is representative of Summit’s standard of excellence.