Dumont Green is an 8-story green and energy efficient building that will provide 176 units of rental housing for low-income families in East New York, Brooklyn. The building features spacious living units, a generous landscaped courtyard, bicycle storage, and 44 on-site parking spaces. All the units will be available for households earning less than 60 percent of the area median income, or $46,000 for a family of four in 2010. Thirty-six units will be set aside for the formerly homeless, supported by on-site services provided by CAMBA, a Brooklyn-based non-profit organization.

To support long-term operations with renewable energy, Hudson is investing in an 80,500 watt solar photovoltaic energy system, the largest to date on a multifamily building in New York City. The system will provide power to cover 80 percent of the laundry facilities and common area usage. The project is a participant in NYSERDA’s Multifamily Performance Program (MPP) and will be at least 26% more energy efficient than a comparable code-compliant building. All units will have Energy Star appliances, helping residents limit their utility costs, and finishes have been selected to ensure durability and good indoor air quality.

Dumont Green was financed through a complex array of public and private sources. The project is owned in partnership with the non-profit Housing Partnership Development Corporation. The site was purchased using the NYC Acquisition Loan Fund through The Enterprise Foundation. Construction financing was provided through tax-exempt bonds and a second mortgage issued by the NYC Housing Development Corporation, City capital subordinate debt through NYC Dept. of Housing Preservation and Development, the NYC Housing Trust Fund, and the Office of the Brooklyn Borough President. Low Income Housing Tax Credits were purchased by The Richman Group on behalf of the Bank of America. NYSERDA provided funding for investments in energy efficiency and the solar energy system. Bank of America also provided credit enhancement for the bonds. The City administered lottery for renting units is expected to begin in October 2010 to have the building fully occupied by May 2011.