Alloy gets $240M in financing for energy-efficient downtown development
Residential tower will be all-electric, two schools will meet stringent 'passive house' standards
Alloy Development, in partnership with the New York City Educational Construction Fund, on Monday announced that it has closed on $240 million in financing for the first phase of the Alloy Block (formerly known as 80 Flatbush) development.
Construction is expected to begin in the coming weeks on New York City’s first all-electric residential tower, along with the city’s first two public schools designed to meet passive house compliance, the highest standards of energy efficiency and indoor air quality.
These schools are the state-of-the-art Khalil Gibran International Academy high school, currently in an outdated building, and a public elementary school.