Getting Over This Hump Too - Restoring and Renovating 272 Clinton Ave.

By Gil Gerald

DGT, in various incarnations and under various names, survived and thrived beyond World War I (1914 -1918), Spanish Flu (1918 - 1920), the Great Depression (1929 - 1939), World War II (1939 - 1945) and much more since then. So it will be, once again, with the COVID-19 era and the waning of Greek letter fraternities on many campuses, including at Pratt Institute. DGT’s Gallery House Internship Program has the potential to continue and improve on providing a meaningful and memorable shared experience for undergraduates in a manner that is professionally and culturally responsive to many of today’s generation of Pratt Students. It is in its fifth year of functioning and development.

272 Clinton Ave.

As with challenges in the past, now, in a time when the whole country is politically and socially frayed and this fraying is sometimes reflected in our family life, among friends, among workplace colleagues, and in too often difficult discourse over social media, a group of ten DGT Alumni have been productively meeting every other week, via Zoom. They have been resolutely unified in strengthening and continuing our professional and social bonds as they pursues the goal of renovating and restoring 272 Clinton Ave. consistent with DGT’s new mission adopted in 2014. This group of ten alumni represent the span of more than half a century of DGT history. It includes six who are graduates of Pratt Institute’s School of Architecture, two from the Engineering School, and two from Art and Design.

The 272 Clinton Ave. Restoration and Renovation Workgroup has met nine times since August 2020. The group was established as an advisory body to the DGT Alumni Association’s Board of Directors as that Board considered various pending issues, inclusive of alternative construction financing and property development scenarios, and whether or not to go forward and pay for the services of real estate development specialists given the volunteer nature of a Board newly burdened with additional property management issues related to COVID-19. Turnover in tenants increased and rental income decreased.

Much has been accomplished by the workgroup. Notably, a Pratt Alumna, Jennifer Gerakaris, a Sigma Sister in undergraduate life and the spouse of Brother Kostas Gerakaris, has volunteered in-kind services as the Architect for the project. This alone represents significant costs savings. A project timeline through construction has been developed and a preliminary total budget of $1.2 million has been established. This amount represents a total to be financed, including anticipated fees, retiring an existing mortgage of roughly $225,000, and other anticipated costs. The workgroup formally voted in favor of a key recommendation to the Board that calls for keeping the building use under it’s current classification as a single room occupancy residential building (SRO). The group agrees that the renovated units will be attractive and affordable alternatives for students and working individuals.

Jennifer Gerakaris is a Partner at Peter Pennoyer, Architects, renown for its restoration work. The consensus of the group is to support the approach Gerakaris is taking in designing for the restoration and renovation of the property. Great care will be taken with the exterior of the building as required by law for structures in the Clinton Hill Historic Preservation District. Great care will also be taken in the restoration and preservation of the interior features and details of the main floor, including the Chapter Room and Bar Room which will continue to function as common space, and reception and exhibit space for Alumni and Gallery House. The stairwell and halls are also to be restored and preserved.

The workgroup is wrestling with many issues in an uncertain time, including the market for the proposed renovated units and the extent to which future income will be sufficient to cover the financing of the project. This aspect of planning is underway. Preliminary conversations have begun with potential lending institutions and with potential private lenders and agents experienced at bringing such lenders to the table with relatively more favorable financing terms. There is optimism, based on these conversations, that DGT has sufficient equity in the property to obtain an affordable $1.2 million loan.

The committee is also weighing and looking at alternatives for how the needed resources can be raised, at least in part, through one-time special gifts from DGT members, various tax incentives and grants that may be available for historic preservation, as well as financing through a Limited Liability Corporation (LLC) of DGT members who provide the financing in part or whole as a long term investment.

The DGT Board of Directors and the whole body of DGT Alumni is indebted to and grateful for the volunteer effort underway and being provided by Chuck Anderson, Paul Fletcher, Vern Ford, Tom Fiorella, Gil Gerald, Jennifer Gerakaris, Kostas Gerakaris, Anne Marie Michael, John Pagan, and Tom Wong.

Gil Gerald is current Secretary and Former President of the DGT Board of Directors.