Alloy Development is plugging in New York City’s first all-electric residential tower.
The property at 505 State Street in Downtown Brooklyn — sometimes alternatively addressed at 100 Flatbush Avenue — is set to open next month, the New York Times reported.
The 44-story, 440-unit property features a split of market-rate and affordable apartments. The housing lottery has already been held for 45 units, drawing more than 100,000 applications. Affordable housing units will rent between $763 and $2,155.
The market-rate apartments, meanwhile, will start at $3,500 and stretch all the way to the low-five figures, depending on unit size. Amenities include a rooftop pool and terrace, a 3,000-square-foot gym and a greenhouse. There are several retail spaces on the ground floor, one of which will be occupied by a coffee shop.
The developers also constructed an adjacent building that will house two public schools, both set to open in the fall.
Jared Della Valle, CEO of Alloy, has been a proponent of natural gas bans in the city, coming out in support of the City Council’s proposal three years ago to stop the use of natural gas in any new building or property that undergoes a major renovation.
“Our future generations of renters really care about this issue,” he said at the time.
The move away from gas stoves and implementation of electric heating and hot water wasn’t necessarily novel when Alloy set out to develop its Downtown Brooklyn rental project. But the all-electric model wasn’t compulsory, either.
That will no longer be the case soon enough, as the state’s All-Electrification Buildings Act is set to take effect in 2026. The law bans the use of fossil fuels in new construction for buildings seven stories or below; larger construction projects will need to follow suit by 2029.
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Della Valle told the Times that the shift to all-electric was not particularly complicated, at least for the 505 State Street project.
“It’s a conceptual leap, but it’s not a technological leap,” Della Valle said.