LCOR is bringing geothermal to a Coney Island apartment project, the first multifamily building in New York City to do so.
The 463-unit rental project at 1515 Surf Avenue will produce 60 percent fewer emissions as a result, Crain’s reported. The geothermal system will heat and cool the building, and power its hot water systems.
“You need a really big site to make sure you can fit in all the wells. We have 1.5 acres,” LCOR Principal Anthony Tortora told the outlet. “We have 153 wells that go down about 500 feet, and the building has more than 600 foundation piles. It was like a big geometry puzzle.”
Tortora told the outlet LCOR believes the green building technology will help draw tenants to the luxury complex, which is set to open next year, according to its website.
While building sustainability can be a marketing tactic, it is also becoming a requirement. New York City’s Local Law 97, set to go into effect next year, is putting the pressure on developers and building owners to reduce building-related emissions, Tortora said. In January, a study found that Local Law 97 fines for landlords could reach $900 million by 2030.
That being the case, few such building owners have tackled geothermal systems as a mode to reduce their portfolio’s climate impact. LCOR is the first developer to employ the technology in a residential building in New York City.
St. Patrick’s Cathedral has run on a geothermal system since 2018, according to published reports. Another large-scale planned project in Rockaway, led by L+M Development Partners, plans to incorporate geothermal systems into the multi-use development, Bloomberg reported. It is still years from completion.
— Kate Hinsche