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Deal Spotlight

Franklin Plaza

$ 0 M
Annual cost savings
0 %
Projected energy savings
0 %
Projected GHG savings

The Building: Franklin Plaza

Building type
Affordable multifamily

Building size
14 buildings
846,700 square feet
1,632 units

Year built

New York, NY

Project type
Energy efficiency and fuel conversion

HVAC and fuel conversion

NYCEEC loan product
Credit Enchancement

10 years

Closing date
August 2013

The Project

Franklin Plaza had deferred maintenance for years and the building systems were outdated. The heating plant burned dirty #6 oil and was highly inefficient, being kept on throughout the summer just to produce hot water. The project converted the fuel from oil and separated the heat and hot water systems.

Total project cost

$3.8 M



Annual savings

$2.2 M

The Results

The project preserved affordability and improved building comfort for residents. It also substantially modernized the facility and upgraded building systems.