RiseBoro Begins Phase 2 of Brooklyn Mixed-Use Project
The property will be built to Passive House standards using energy-efficient geothermal systems.
RiseBoro Community Partnership has closed on $412.4 million in financing for the second phase of Alafia, a mixed-use development designed to address the chronic social, economic and health disparities in East New York.
This phase will deliver two 14-story buildings with 634 affordable housing units, including supportive housing, as well as approximately 22,000 square feet of retail and community facility space. Alafia will provide a mix of studio, one-, two-, and three-bedroom units for households earning between 40 percent and 70 percent of the area median income.
Construction is underway with an expected completion date of fall 2027. Apex Building Group and L+M Development Partners LLC are co-developers on the project.
A Passive House project
These buildings will be designed to Passive House standards using energy-efficient geothermal systems. When completed, it will be one of the largest buildings designed to these standards.
“For a low-income household budget, energy costs are the largest expenditure,” Lesley Roth, AIA, AICP, LEED AP, principal at Lamar Johnson Collaborative, told Multi-Housing News.
“Given that one of the greatest and most immediate benefits of ‘Passive House’ design is the reduction in energy use, it makes sense for affordable housing developments to pursue building to those standards.
LJC also designed the soon-to-be constructed mixed-use, mixed-income development 750 N. Avers for developer 548 Capital.
“Air sealing is a critical yet often overlooked solution to not only meet rigorous Passive House standards but also to directly address some of the most pressing challenges facing affordable housing development and climate resilience across the sector,” Amit Gupta, CEO of Aeroseal, told MHN.
“Without a well-sealed building envelope and HVAC ductwork, energy demands for heating and cooling skyrocket, operational costs climb, temperature control is hindered and indoor air quality suffers—directly impacting stakeholders’ wallets and residents’ well-being,” Gupta said.
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This phase is being done through the Vital Brooklyn initiative, spearheaded by Empire State Development. Its goal is to tackle longstanding disparities in Central Brooklyn by combining affordable housing, healthcare, open space and job creation to create a new standard for community development and wellness.
Public and private financing sources funded the project, which includes a construction loan from Bank of America, tax credit equity from Merchants Capital Investment LLC, subsidy from the New York State Housing Finance Agency’s New Construction Program, Community Investment Fund and a permanent loan from Merchants Capital Corp.
Goings-on around Brooklyn
In December, Goose Property Management secured a $132 million construction loan last month to develop a new luxury apartment building at 358 Livingston St. in downtown Brooklyn. The 24-story property will include 5,000 square feet of ground-floor retail space.
The development will feature 297 apartments, a mix of studios, one-bedroom, and two-bedroom units. It is expected to be completed by late 2027.
