256 Martense Street is an affordable rental building in Brooklyn, NY. The owner worked with the NYC Department of Housing Preservation & Development (HPD) to renovate the property to provide an upgraded, modern, and comfortable living environment for the residents. This required substantial predevelopment work which was funded by a NYCEEC predevelopment loan tailored to HPD’s Green Housing Preservation Program (GHPP).
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Ariel West is financing a project to retrofit its existing fluorescent lighting with higher-efficiency LED lighting. The building is using a NYCEEC equipment loan with ConEd incentives to fund the project. The scope involves replacing over 900 bulbs and 250 fixtures in common areas including the hallways, refuse rooms, amenity spaces, stairwells, storage and maintenance rooms.
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The Edge is financing a project to retrofit its existing fluorescent T5 and T8 lighting with higher-efficiency LED lighting. The Edge is using a NYCEEC equipment loan with ConEd incentives to fund the project. The scope involves replacing over 500 fixtures in the common areas including the hallways, refuse rooms, amenity spaces, stairwells, storage and maintenance rooms.
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Dual Fuel Corp provides building owners in the greater New York City area energy-saving services, including oil to gas conversions and energy efficient HVAC and controls. Their high quality service gives customers increased comfort, reduced energy costs, and a smaller environmental footprint. They work across a range of building owners, including those who can self-finance projects and those who desire additional financial resources.
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NYCEEC provided a loan for just the efficiency work, enabling the developer to upgrade from standard building code to deeper, high performance building standards. Specific high-performance building measures included triple pane windows and bi-folding doors, high efficiency VRF heat pumps for all residential and common spaces, thermal break installation & spray foam insulation in the concrete slab between the solar shades and interior spaces, and solar shading to reduce solar gain.
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NYCEEC provided a $1.35 million equipment loan covering project costs not covered by Con Edison incentives, enabling Annal Management to commence construction. Four of the six buildings are due to repay their loans over five years and the other two have six year windows.
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The owners wanted to take advantage of NYSERDA’s incentives and low-cost financing from its Green Jobs Green New York (GJGNY) program. Along with the NYCEEC loan the owners installed upgrades to its aerators, air sealing, direct-fired (instant) hot water heaters, energy management system, heating and heat distribution balancing, insulation, variable frequency drives.
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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.
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Elmo Homes is a self-managed 24-unit co-op building. The owners wanted to purchase and install rooftop solar to generate electricity onsite and lower greenhouse gas emissions. Project developer, Zero Carbon, partnered with the NYCEEC to create an integrated technology and finance solution, including a 30.7 kW photovoltaic system and a new metering system capable of aggregating usage data from each housing unit, all with no upfront cost to the co-op association.
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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.
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