425 Grand Concourse Enters Final Stage of Construction

NEW YORK, July 14, 2021 /PRNewswire/ -- Trinity Financial, the New York Housing Conference 2020 Developer of the Year, announced today that its 425 Grand Concourse project in the Bronx is over 75 percent completed - with a projected opening of the mixed-use development in the Spring of 2022.

The 26-story, 310,000 square foot development is the largest Passive House project in construction for North America to date. It was designed by Dattner Architects, built by Monadnock Construction and is being developed by Trinity in partnership with MBD Community Housing Corporation and New York City's Department of Housing Preservation and Development (HPD).

"Our rapid progress on 425 Grand Concourse is exciting to watch each day, and it is truly energizing the entire Mott Haven community in the Bronx," said Thomas Brown, Vice President of Development for Trinity Financial, who oversees the company's New York operations. "The residents who will occupy the 277 units of affordable housing will form the heart and soul of what we are creating. We're extremely happy to be working with our partner MBD, the City of New York, our local elected officials and the residents of Mott Haven to bring this project together.

In addition to providing high-quality resident amenities such as an outdoor recreation deck at the 25^th floor, two resident lounges, fitness room, laundry rooms, bike storage, and a landscaped roof terrace at the 3^rd floor, 425 Grand Concourse will serve as an important anchor for the neighborhood and promote street activity and commerce at the prominent corner of Grand Concourse and East 144^th Street.

The non-residential components of the development will consist of a neighborhood supermarket, a community health center, a cultural center and a 30,000 square foot educational facility for CUNY Hostos – a community college serving the South Bronx.

The building's superstructure topped off early in January at 425 Grand Concourse. The development represents a historic milestone in the evolution of Passive House building technology – for which New York City and New York State have taken a leadership role.

In addition to being named Developer of the Year for 2020 by the NYHC, Trinity Financial and its partners have also received a Buildings of Excellence Award from the New York State Energy Research and Development Authority (NYSERDA) recognizing and rewarding the design, construction, and operation of very low or zero carbon emitting multifamily buildings.

"NYSERDA is pleased to recognize this exciting milestone for this Buildings of Excellence project as it enters the home stretch of construction on what will be a beautiful, energy efficient and comfortable affordable housing development in the Bronx," said Doreen M. Harris, president and CEO of NYSERDA. "High performing building projects like 425 Grand Concourse are helping to transform the New York's building sector as we move toward creating a carbon-neutral building stock in support of Governor Cuomo's nation-leading greenhouse gas emission reductions goal."

Designed by Dattner Architects to meet or exceed Passive House efficiency standards, the building will consume significantly less energy than a conventional housing project of the same size and scope. This is accomplished through the use of high efficiency building systems combined with an air-tight building envelope with minimal thermal bridges, as well as an energy-recovery ventilation that tempers incoming fresh air with the embodied energy of the outflowing exhaust air.

"A large multi-family development such as 425 Grand Concourse is the ideal project for employing Passive House design, because the ratio between envelope size and enclosed building volume is very favorable," said Christoph Stump, Vice President of Design and Construction for Trinity Financial in New York. "Energy-recovery ventilation, heat-recovery heating and cooling and the added work that goes into creating an air-tight building with minimal thermal bridges adds relatively little cost to a project. However, when you look at the benefit of reduced utility bills, increased tenant comfort and building quality, the advantages are undeniable."

The 277 apartments at 425 Grand Concourse will be earmarked for low- and moderate-income families. All units feature individual tenant climate controls, energy-efficient appliances, and water savings fixtures. The Passive House design and building systems will enable each unit's living space and bedrooms to receive filtered fresh air to improve comfort and air quality.

About Trinity Financial, Inc.

Trinity Financial is a community-driven, diverse real estate development firm with a proven-track record of redeveloping complex urban sites from New York to Greater Boston. The work spans half a dozen residential and commercial specialties, from multi-family housing to transit-oriented development. Over the past 30 years Trinity has developed more than $3 billion in innovative development, delivering high quality, sustainable, multi-family housing, ranging from affordable to luxury - all with a commitment to people and place. For more information about Trinity Financial, please visit www.trinityfinancial.com.

SOURCE Trinity Financial

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