Slate Property Group Breaks Ground on $146M NYC Project

The company and RiseBoro Community Partnership are building an all-electric affordable development in Brooklyn.

326 Rockaway Avenues rendering. Image courtesy of Aufgang Architects

326 Rockaway Avenue rendering. Image courtesy of Aufgang Architects

Slate Property Group and RiseBoro Community Partnership have broken ground on 326 Rockaway Avenue, a 216-unit affordable housing community in New York City’s Brooklyn borough. Completion is slated for the summer of 2025.

Aufgang Architects serves as the main architect, with SD Builders and Construction LLC as general contractor and OSD handling the design of outdoor community spaces.

Upon completion, 326 Rockaway Avenue will comprise 85 affordable units designated for residents earning below 60 percent of the area median income and 130 supportive units for formerly homeless young adults.

The community will provide supportive housing services such as counseling, crisis intervention, person-centered case management, life skills, service planning, needs assessments, empowerment services and education opportunities. RiseBoro will offer an educational program and expert staffing. The supportive housing program is funded through the NYC 15/15 Program.

Located in Brooklyn’s Brownsville submarket, the development is near the intersection of East New York Avenue and Rockaway Avenue.

An innovative and sustainable project

Considered to be one of the most sustainable affordable housing projects in New York City, the mixed-use development was designed to meet Passive House standards and to achieve PHIUS certification. The all-electric passive house project will incorporate rooftop solar PV equipment and will use zero fossil fuel for heating and other operations.

The 181,324-square-foot building will feature 3,800 square feet of community space, 1,600 square feet of ground-floor retail and studios, one-, two- and three-bedroom apartments. The common-area amenities will include a fitness center, a community room, a yoga studio, a children’s playroom, laundry facilities, outdoor recreational areas, a roof deck and bike storage.

The financing for the $146 million project includes Low-Income Housing Tax Credits, tax-exempt bonds, an acquisition loan from the Corporation for Supportive Housing, support from the New York City Department of Housing Preservation and Development, the New York City Housing Development Corp. and the Goldman Sachs Urban Investment Group.

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