IPNA Study Unlocks Capital Planning Strategies and Funding Opportunities

EN-POWER GROUP performed a comprehensive Integrated Physical Needs Assessment (IPNA) to help the property strategize improvements and capital planning in order to receive funding from the New York City Department of Housing Preservation and Development (NYC HPD) for critical, short-term, and long-term upgrades. Linden Plaza Housing Complex is a 1,525-unit Mitchell-Lama development for moderate-income families. The 1.6-million square foot complex consists of five (5) large buildings and 32 townhouses. The property underwent extensive apartment and common area renovations in 2008. Recently, property managers decided the building mechanical systems and physical construction needed extensive renovation as well, so they needed an IPNA study to help evaluate their options and opportunities for improvement.

As a pre-qualified IPNA service provider for NYC HPD, EN-POWER GROUP conducted the study in accordance with all standards and methods required by NYC HPD and the Housing Development Corporation (NYC HDC). To start the project, our team arranged a kickoff meeting with the property management so we could understand the management’s concerns and expectations. We also coordinated with NYC HPD staff to ensure all of our inspection methods and strategies met agency criteria and would be sufficient for a complex of this size. Once initial meetings were complete, our project staff conducted multiple detailed on-site assessments and analyzed historic building data such as energy consumption and as-built drawings of the construction to gain a better understanding of the property’s physical condition, mechanical system performance, and indoor environmental quality.

Following the on-site assessments and data analysis, our team identified improvement opportunities that the property should implement and the priority of each measure (i.e., critical, short-term, and long-term). EN-POWER GROUP then prepared a 15-year financial projection that outlined planned repair schedules, estimated construction costs, projected annual utility cost savings, and calculated financial payback of each measure. This IPNA study not only provided the most up-to-date information to the property management but also helped the property management plan short- and long-term capital allocation, and enabled them to prepare funding proposals to NYC HPD for repairs and upgrades.