Slate Property Group, RiseBoro Community Partnership and Goldman Sachs on Thursday celebrated the completion of a 216-unit affordable mixed-use project at 326 Rockaway Ave. in Brownsville.
In addition to providing 100% affordable housing, the development is an all-electric Passive House that includes a rooftop solar array to offset energy use.
The building is also home to “Brownsville, King of Love,” a 150-foot mural permanently installed on the side of the building. The work, produced by ArtBridge and Brooklyn-based artist Victor “Marka27” Quiñonez, celebrates Brownsville's diverse culture and notable hip-hop legacy with references to hip-hop icons such as M.O.P. and Duck Down Records. It is the largest outdoor mural in Brooklyn, developers said.
"326 Rockaway is more than just a building, it’s a promise to Brownsville that affordable and sustainable housing rooted in the community is possible," Kieran Harrington, chief executive officer of RiseBoro Community Partnership said in a statement.
The building includes studios, one-, two-, and, three-bedroom apartments, with rents ranging from $1,095 to $2,301. In addition, 130 of the 215 available units will serve formerly homeless young adults and their families.
The building also offers residents amenities like a landscaped roof terrace and courtyard, urban farm, recreation room, on-site social services, as well as benefits for the surrounding community like ground-floor retail and community facility space.
"By creating hundreds of new truly affordable housing opportunities and setting bold, new standards for energy efficiency, we’re helping to build a cleaner, greener and more livable future in Brownsville for years to come," said David Schwartz, co-founder and principal at Slate Property Group.
The project was financed through a combination of Low-Income Housing Tax Credits, tax-exempt bonds, and support from the New York City Housing Development Corporation, the New York City Department of Housing Preservation and Development, and The Urban Investment Group at Goldman Sachs Alternatives. The new homes were also made possible through an acquisition loan from the Corporation for Supportive Housing, which was repaid at the construction loan closing.
"This development stands as one of the most sustainable income-restricted properties in New York City, setting a powerful example for what equitable, forward-thinking housing can look like," said City Council Member Darlene Mealy.
