Deal Spotlight
Energy Efficiency for Bronx Affordable Housing
$
0
NYCEEC Loan
$
0
million
Total Project Cost Appr.
0
Affordable Housing Units
The Building
Building type
Affordable Multifamily
Building size
228 units
177,000 square feet
Expected
Construction
2022
Location
Bronx, NY
Project type
Predevelopment,
Energy Efficiency
Upgrades
High efficiency interior and exterior lighting, new energy efficient windows, roof insulation, air sealing, low flow fixtures and appliances, solar photovoltaic (pending feasibility study)
NYCEEC loan product
Green Predevelopment Loan
The Project
NYCEEC provided critical predevelopment funding to support architectural and engineering services, energy modeling, and other eligible expenses related to the repositioning of five 100% affordable multifamily apartment buildings in the Bronx. Predevelopment work will include an analysis of solar photovoltaic feasibility for all five buildings.
The five buildings are being acquired and rehabilitated by Settlement Housing Fund, Inc. (“SHF”), a long-serving affordable housing provider working across New York City. SHF is working with the New York City Department of Housing Preservation & Development to upgrade the buildings to comply with the Enterprise Green Communities standard and ensure units are affordable to tenants earning 30%, 60%, and 70% of area median income.
Total project cost
$121,000,000
NYCEEC Green Predevelopment Loan
$1,000,000
Affordable housing units
228
The Results
The $1,000,000 Green Predevelopment Loan will help ensure that incremental design and planning costs necessary for energy efficiency work can be completed quickly, providing a healthier environment for all 228 tenant families.