WinnCompanies Completes Preservation and Mode...

Three-Year Effort Upgrades 508 Apartments, Community Amenities and Resident Services

Boston (August 21, 2026) - New York Housing Commissioner RuthAnne Visnauskas joined WinnCompanies executives and government leaders yesterday in Fairport, NY, to celebrate completion of a sweeping project that preserved and modernized Evergreen East, a historic 508-apartment complex that ranks as one of New York State's most significant affordable housing communities.

The $86 million, three-year construction project modernized homes for nearly 2,000 residents; installed new plumbing, electrical infrastructure, and HVAC systems throughout the 420,000-square-foot complex; strengthened environmental sustainability; expanded resident services and amenities; created a modern community building; and improved housing options for residents with disabilities.

"This project was the largest and most extensive occupied rehab that our company has ever designed and completed, and I am proud of how our teams worked together to make it a success for the residents," said WinnCompanies CEO Gilbert Winn. "Thanks to this effort, we have ensured that Evergreen East will shine as a critical source of quality affordable housing for decades to come. Equally important, we have invested in the resident programs and support systems that ensure that this historic property endures as a vibrant and diverse resource."

Formerly known as the Pines of Perinton, the community was built outside Rochester, NY, between 1972 and 1976 by the New York State Urban Development Corporation (UDC), based on design by renowned modernist architectural firm Gwathmey Siegel & Associates and master planning and landscape architectural firm Peter Rolland and Associates. It earned historic designation as an example of UDC's pioneering suburban housing program, which sought to address postwar housing shortages by producing thoughtful, low-density mixed-income and affordable communities outside urban centers.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "Evergreen East is a tremendous example of Governor Hochul's commitment to protecting affordability and ensuring that existing affordable housing remains a resource for New Yorkers for generations to come. This comprehensive investment has transformed more than 500 homes while preserving the character of a truly unique community, improving energy efficiency and accessibility, and creating new opportunities and amenities for residents. We are proud to celebrate this milestone with WinnCompanies and all the partners who helped secure Evergreen East's future as a thriving, affordable community."

WinnCompanies closed on the acquisition and recapitalization project in March 2023, orchestrating public and private financing that protects and expands Evergreen East's affordability to 100 percent for at least 40 years. All 508 apartments are now designated as Low-Income Housing Tax Credit units for the first time in the community's history.

The renovation, led by WinnDevelopment Senior Vice President David Ginsberg and Associate Vice President Lindsay Finkenstaedt, modernized the five two-story residential buildings using a complex, block-by-block sequencing strategy that involved vacating residents and their belongings from small sections in phases to conduct major demolition of bathrooms, kitchens and plumbing lines, before completing full unit restoration.

The construction effort created 331 construction jobs, delivering an estimated economic impact of more than $64 million. People of color accounted for 40 percent of the hires and nearly 52 percent of the project's work hours, according to a professional analysis by Renaissance Groups of Rochester.

More than $12.6 million of the construction contracts for the project were awarded to qualified Minority and Women-Owned Business Enterprises (MWBEs). Women-Owned Business Enterprises (WBEs) were awarded more than $7.5 million in work, while Service-Disabled Veteran-Owned Businesses (SDVOBs) received more than $5.6 million in contract awards.

The Evergreen East complex offers studio and one-bedroom flats, two-bedroom townhouses, three-bedroom flats and townhouses, and four-bedroom townhouses.

Work included gut-renovating 489 apartments and rebuilding 19 units destroyed in a fire in 2022. Roofs measuring two miles in length and on average, 50 feet wide were replaced. Some 2,140 windows, nearly 2,000 air conditioning sleeves and 1,090 entry doors were installed. All plumbing lines, fixtures, outlets, electrical infrastructure, roads and sidewalks were replaced. Twenty-six units were converted to ADA accessible housing - the first compliant apartments in the property's 50-year history.

"Having an accessible apartment gives me peace of mind and reduces my anxiety about aging and potential future disabilities. One of the biggest differences since the renovation is the new windows. I love how they are easier to open and automatically lock," said Victoria Espada, a resident of Evergreen East since 2020. "My personal experience with my apartment has been very positive. It is well-maintained, reliable, and equipped with dependable utilities and appliances. I also enjoy that it's a short walk from community activities and shops."

New exterior security lighting, refreshed landscaping, and upgraded outdoor amenities were also installed on the 43-acre site. A 1,700-square foot management office and a dormant 2,200-square-foot community building were entirely reconfigured and made accessible, to create private offices and meeting spaces in the management building, as well as a gym, recreation space, and a computer lab. The space currently hosts three nonprofits each week and has hosted dozens of community events and hundreds of supportive service programs since opening its doors in 2024.

New York State Parks, Recreation and Historic Preservation Commissioner Kathy Moser said, "Evergreen East demonstrates how historic preservation can strengthen communities while creating quality, affordable housing. Thanks to Governor Hochul and our partners, this project preserved the community's historic architectural character while improving accessibility, energy efficiency and outdoor spaces. This investment builds on the Governor's commitment to expanding and preserving affordable housing across the state. With 26 homes now ADA-compliant, Evergreen East will continue providing attractive, accessible and affordable homes for New Yorkers for decades to come."

In addition, 19 apartments destroyed in a 2022 fire were rebuilt to replicate the property's historic design. Funding from the New York State Energy Research & Development Authority (NYSERDA), local utility company Fairport Electric, and the New York Independent Energy Efficiency Program (IEEP) allowed the new units to be built with innovative, low-carbon mechanical systems and beyond-code envelope features that produced significant energy savings and will inform sustainability in future historic preservation projects.

New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, "NYSERDA is proud to support the transformation of the former Pines of Perinton into modern, energy efficient spaces that will serve Monroe County for years to come. The newly completed Evergreen East demonstrates how thoughtful rehabilitations can preserve and enhance New York's existing housing stock with the latest in clean energy solutions to provide residents with affordable, comfortable and healthy places to call home."

The refinancing operating budget included enhanced funding for resident services and enabled Connected Communities, a non-profit affiliate of WinnCompanies, to hire a full-time on-site coordinator and strengthen community services. Earlier this year, HUD approved the site for launch of a Family Self Sufficiency (FSS) program, and HUD grant funding awarded to Connected Communities' FSS Collaborative will cover a portion of a second full-time coordinator who will be focused on supporting FSS program residents reach their financial, educational, job, and long-term savings goals.

"We are pleased to finally cut the ribbon on these renovations, which were long overdue and critically necessary," said State Assemblymember Jen Lunsford. "The huge investments put into renovating and restoring this historic property, which accounts for some of the only affordable housing in my entire district, as well as the addition of the supportive services that can now be offered to residents only steps from their door, is already improving the quality of life for residents of this community. I'm grateful to celebrate this new start."

Financing for the Evergreen East acquisition-rehab included a mix of public and private sources, including Federal and State Low-Income Housing Tax Credits from New York State Homes and Community Renewal (HCR) that are expected to generate more than $54.5 million in equity with Bank of America, as the investment partner.

HCR also supported the project with $22.8 million in long-term permanent debt with State of NEW York Mortgage Agency (SONYMA) enhancement and $34.8 million in subsidy from HCR. The New York State Office of Parks, Recreation and Historic Preservation and the National Park Service's facilitated an estimated $17.2 million in federal historic tax credit equity and $14.7 million in state historic tax credit equity from Bank of America. The New York State Energy Research and Development Authority (NYSERDA) and Fairport Electric provided $600,000 in ENERGY funding for the fire-damaged portion of the building.

Bank of America provided a construction loan letter of credit and purchased all federal and state low-income housing and federal and state historic tax credits.

"Increasing access to safe and stable affordable housing in our communities will help improve quality of life for individuals and families, and ensure the long-term success of our region," said Colleen Matteson, President, Bank of America Rochester. "The preservation and modernization of Evergreen East demonstrate the impact of public and private sector partnership. Together, we can help reduce housing insecurity, improve stability, and build stronger, more resilient communities for years to come."

The U.S. Department of Housing and Urban Development, the Town of Perinton, Monroe County, the Rochester and Fairport housing authorities, and Five Star Bank played key roles in the effort.

"The successful completion of the Evergreen East renovation is a milestone for Monroe County, preserving vital affordable housing options for nearly 2,000 residents," said Monroe County Executive Adam Bello. "Safe and affordable housing is essential to the well-being of our community, and none of this would have been possible without the extraordinary collaboration between WinnCompanies, New York State partners and local agencies."

DiMarco Constructors of Rochester, NY, served as general contractor with The Architectural Team of Chelsea, MA, as architect, and BME Associates of Fairport, NY as civil engineer and landscape architect, working hand in hand with The Public Archaeology Lab (PAL), the Massachusetts-based historic consultant. Renaissance Groups, a certified women-owned consultant based in Rochester, worked with the local community and the general contractor to provide access to construction job opportunities to ensure local, minority and women-owned businesses.

No households were permanently displaced during the project. Property manager WinnResidential worked with relocation consultant HousingToHome of Dedham, MA, to coordinate moving households in and out of vacant transition units on site while their apartments were renovated.

ABOUT WINNCOMPANIES

WinnCompanies is an award-winning owner, developer and manager of high-impact, quality apartment homes, supported by 4,600 team members in 30 states, the District of Columbia and Puerto Rico. The company is known as a leading manager of multifamily apartment communities, operating the nation's largest portfolio of affordable housing with a groundbreaking resident services platform. Its community development work prioritizes creating true mixed-income properties for households of all incomes. The company has also been a top manager of privatized housing for members of the U.S. Armed Forces and their families since 2001. Founded in Boston in 1971, WinnCompanies is a family-owned, private company. Learn more at WinnCompanies.

MEDIA CONTACT

Ed Cafasso
[email protected]
Call or Text: (617)455-9651

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