May 20, 2024

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Slate Property Group breaks ground on $146M NYC Project

2 min read

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

Slate Property Group and RiseBoro Community Partnership broke ground at 326 Rockaway Avenue. The community will consist of 216 units of affordable homes in the Brooklyn Borough, New York. The completion is scheduled for summer 2025.

Aufgang Architects is the principal architect. SD Builders and Construction LLC is the general contractor. OSD handles the design for outdoor community spaces.

After completion, 326 Rockaway Avenue includes 85 affordable units that are designated for residents who earn less than 60 percent of the median income in the area and 130 supportive units designed for young adults who were formerly homeless.

The community will offer supportive housing services, such as counseling and crisis intervention. It will also provide services like service planning, needs assessment, empowerment services, education opportunities, and life skills. RiseBoro offers an educational program with expert staffing. The NYC 15/15 program funds the supportive housing program.

The development is located near the intersection between East New York Avenue, and Rockaway Avenue in Brooklyn’s Brownsville Submarket.

A sustainable and innovative project

The mixed-use project, which is considered one of the most affordable affordable housing projects in New York City was designed to meet Passive house standards and achieve PHIUS Certification. The passive house will be powered by rooftop solar panels and use no fossil fuels for heating or other operations.

The 181,324 square foot building will have 3,800 square feet for community space and 1,600 square feet on the ground floor retail. It also has studios and one, two and three bedroom apartments. Common-area amenities include a fitness room, a community space, a yoga classroom, a playroom for children, laundry facilities and outdoor recreation areas.

The $146 million project is funded by Low-Income Housing tax credits, tax-exempt bond, an acquisition loan provided by the Corporation for Supportive Housing and support from New York City Department of Housing Preservation and Development.

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