Plaza Residences is located in the Brownsville section of Brooklyn, New York. The property consists of 385 units of affordable housing in five six-story buildings. Omni New York LLC acquired the property in June 2007 with financing from four different government agencies. The New York City Housing Development Corporation provided a loan through the issuance of tax exempt bonds. The New York City Department of Housing Preservation and Development allocated the property Low Income Housing Tax Credits and provided two low interest loans. The Brooklyn Borough President's Office provided funding through Resolution A, and a grant was received from the New York State Energy and Research Development Authority for implementing energy efficient measures in the property.
Building renovation was performed in 2007-2008. Renovation within the apartments include painting, flooring, new kitchen cabinets, energy star appliances, smoke and carbon monoxide detectors, new bathrooms including toilets, bath fitters, vanities, medicine cabinets, and light fixtures. System improvements and upgrades include elevators, electrical, plumbing, boilers, high-tech energy monitoring systems, a DVR security camera system with 326 cameras throughout the buildings, and a keyless entry system. The lobbies and the community room were upgraded and renovated, and five new laundry rooms were created in the buildings for the tenants' convenience. Exterior improvements included building facade repair, new windows, pointing, new roofs, new fencing, repaving of parking lots and courtyards, extensive landscaping including a new playground and seating areas, and a security booth at the entrance of the property. Additionally, the community room was renovated into a space to provide various social services to the residents.