655 MORRIS AVENUE, BRONX, NEW YORK- SUSTAINABLE BUILDING IN THE BOROUGHS

Three months after New York Housing Development Corporation announced $372.56 million in bonds and $88.7 million insubordination financing to fund affordable housing in Bronx, New York, Omni New York started the construction of 655 Morris Will. The 15-story building a total of $63.8 million and $11.4 million comes from subordinate debt. 655 Morris Will is designed to provide home for formerly homeless and low-income people. Besides apartments, it also has 8,500 square feet of community center. The new building will not only be energy efficient but also adopt affordable and healthy material. A cogeneration system will be placed inside building to use the natural gas-fueled equipment to make electricity. Also, the waste heat will be reused to heat the water. This building will serves as an affordable healthy place for New Yorkers.

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