{"id":108433,"date":"2026-01-22T11:14:23","date_gmt":"2026-01-22T11:14:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/108433\/"},"modified":"2026-01-22T11:14:23","modified_gmt":"2026-01-22T11:14:23","slug":"new-owners-of-park-hill-apartments-promise-to-transform-living-conditions-that-residents-have-endured-for-decades","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/108433\/","title":{"rendered":"New owners of Park Hill Apartments promise to transform living conditions that residents have endured for decades"},"content":{"rendered":"

STATEN ISLAND, N.Y. \u2014 The new owners of the Park Hill Apartments are no strangers to cleaning up other people\u2019s messes, with a long track record of rehabilitating run-down buildings across New York City.<\/p>\n

The Arker Companies, who will lead the new ownership group\u2019s rehabilitation of the Park Hill Apartments<\/a>, have their work cut out for them this time, with residents of the eight-building apartment complex having endured decades of neglect regarding the inadequate, unsanitary living conditions they\u2019ve been subjected to.<\/p>\n

In late December, the Arker Companies announced that the new ownership group, which also includes L+M Development Partners and LIHC Investment Group, will perform a massive $165 million renovation of the Park Hill Apartments over the next two years.<\/p>\n

The previous owner of the Park Hill Apartments, Michael Shah, who is the founder and CEO of DelShah Capital<\/a>, told the Advance\/SILive.com that the complex \u201cwas sold to the best affordable housing developers in the city.\u201d<\/p>\n

Shah\u2019s relationship with the Arker Companies dates back more than a decade, when the company acquired and rehabilitated another apartment complex he previously owned \u2014 Terrace Gardens on Steuben Street in Concord.<\/p>\n

On Tuesday, the Arker Companies invited the Advance\/SILive.com to an exclusive tour of the Terrace Gardens apartments to highlight the improvements they\u2019ve made and offer a small glimpse into what the future of Park Hill could look like.<\/p>\n

\u201cWe did approximately a two-year renovation here at Terrace Gardens, which was really transformational. The changes were significant. There was a lot of deferred capital needs here,\u201d said Simon Bacchus, director of development for The Arker Companies.<\/p>\n

In the two years after acquiring Terrace Gardens, the Arker Companies replaced aging building systems, reworked the facades, fully renovated the apartments and commons areas and took over management of the two-building complex.<\/p>\n

During the tour, Terrace Gardens I, located at 195 Steuben St., appeared clean and in a state of good repair, which as documented by the Advance\/SILive.com throughout the years<\/a>, has not often been the case at the Park Hill Apartments.<\/p>\n

\u201cThe conditions of the building really are, I think it\u2019s safe to say, night and day, and we feel really good about how we\u2019ve been able to maintain that over more than a decade. We\u2019ve got a great and consistent management team here and we do our best to provide quality service to the residents and they appreciate that,\u201d Bacchus said.<\/p>\n

The full renovation of the Park Hill Apartments, which is expected to be completed by January 2028, will include many of the same improvements that were implemented at Terrace Gardens; renovated apartments and common areas, facade and roof improvements, boiler replacements, modernized elevators and improved parking areas.<\/p>\n

While those physical, infrastructure improvements will take time to be implemented, the new owners are currently focused on getting to know their tenants and understanding the wants and needs of the community, with a public meeting to discuss the rehabilitation tentatively scheduled for the end of the month.<\/p>\n

\u201cWe have to build relationships with the residents. We need to understand the community. It\u2019s an existing community that\u2019s been there for a long time, and we\u2019re newcomers there. So we want to be respectful and build relationships and start to build some trust, which we know is not currently there and we\u2019ve got to earn it,\u201d said Bacchus.<\/p>\n

Other short-term efforts include cleaning up the property, which as recently as last week was overrun with trash<\/a>, and bolstering security at the buildings by installing locks on all doors, expanding upon the existing camera system and increasing patrol frequency.<\/p>\n

\u201cOur philosophy is that we want to help communities get to the vision they have for themselves. We want to support residents to be proud of where they live, to be comfortable where they live, to feel safe and secure where they live. We\u2019re going to do our best through professional management and a transformational renovation project to achieve this at Park Hill over the course of the next two years and for the long term future,\u201d Bacchus said.<\/p>\n","protected":false},"excerpt":{"rendered":"STATEN ISLAND, N.Y. \u2014 The new owners of the Park Hill Apartments are no strangers to cleaning up…\n","protected":false},"author":2,"featured_media":108434,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[9,24,63,134,136,135],"class_list":{"0":"post-108433","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-staten-island","8":"tag-new-york","9":"tag-new-york-city","10":"tag-nyc","11":"tag-staten-island","12":"tag-staten-island-headlines","13":"tag-staten-island-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/108433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=108433"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/108433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/108434"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=108433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=108433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=108433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}