NYCEEC provided a $3,500,000 Green Predevelopment Loan to Settlement Housing Fund (“SHF”) for the construction of a 100% affordable housing development in Coney Island, Brooklyn. SHF is a New York City-based nonprofit focused on affordable housing and sustainable community development for low- and moderate-income families.

The NYCEEC loan covers early-stage architectural, engineering, environmental, and sustainability and geothermal consulting services. The project’s infrastructure will be all-electric. SHF is committed to constructing the project in line with Passive House Standards and proposes utilizing renewable geothermal energy. 60% of the units are reserved for supportive housing for formerly homeless households, and 40% of the units are for low- and moderate-income households earning between 30% and 60% of Area Median Income. The project is dedicated to supporting the LGBTQ+ community, with on-site case managers and Licensed Clinical Social Workers. Additionally, all residents will have access to 24/7 security, addiction counseling, vocational training, and healthcare coordination.