The Building: 9th Street
4,775 square feet
New York, NY
NYCEEC loan product
NYCEEC provided a $685,000 mortgage loan with multiple draws and capitalized interest. The loan was structured to match Passive House construction and certification milestones, thus, helping the owner/project developer manage project expenses. In addition, NYCEEC’s engineers provided technical guidance throughout the construction and Passive House certification process to optimize energy savings.
Total project cost
Compared to current building code, the Passive House standard results in roughly 90% lower heating and cooling energy use and up to 45% lower energy use.
The benefits of the Passive House standard extend far beyond its high energy savings. Passive
Houses are healthier and more resilient because of controlled ventilation, tight air sealing and
extensive insulation. As more buildings are brought to this standard, consumer expectations and
developer incentives and feasibility will rise, creating a broader market for highly efficient buildings.