The city’s Department of Environmental Protection (DEP) has
partnered with sustainable design giant Arcadis
to launch a $53 million program designed to engage property owners across the
city with resiliency measures that improve local and regional environmental
Spanning all five boroughs and targeting properties over
50,000 square feet, the program will seek out private properties with large,
impervious areas and offer funding, guidance and installation of green
In addition to greening the city, green infrastructure helps reduce and manage stormwater runoff and provides urban heat island reduction, healthier air and habitats for birds and pollinators.
“If you own a larger property in New York City, we will
be coming to your door to offer funding and assistance to help upgrade your
on-site drainage system and allow you to contribute to a greener and more
livable New York City,” said DEP Commissioner Vincent Sapienza. “This
is the largest incentive program in the region, and it is a demonstration of
our commitment to better manage stormwater generated from private properties
across the five boroughs.”
As large cities around the world grapple with increasing populations, inequalities and budget constraints, creative funding approaches that tackle city-wide sustainability goals are critical to long-term social, environmental and economic resilience. With more than 70 percent of the city covered in impervious surfaces, installing green infrastructure city-wide will significantly reduce stormwater runoff and in turn, improve the health of surrounding rivers and harbors.
“Globally, people are eager for opportunities to live a
more sustainable lifestyle, and we are thrilled to partner with DEP to help
make that happen in New York City,” said John McCarthy, president of
Arcadis’ water business in North America. “This project reflects an
innovative approach to stormwater management that will improve how New Yorkers
experience water, adapt to climate change and provide lasting environmental
benefits to the waterways that have shaped the city for generations.”
Over the past 15 years DEP has invested approximately $16 billion to upgrade and improve the city’s wastewater system and reduce sewer overflows. As a result, New York Harbor is cleaner and healthier today than it has been since the Civil War.
The announcement comes just days after Mayor Bill de Blasio announced that the city has chipped in $89 million to help the owners bring 111 Wall Street into line with New York carbon emissions targets.
It is the biggest loan to date issued under the C-PACE (Commercial Property Assessed Clean Energy) program, a government-approved low-cost, long-term, non-recourse capital solution for real estate transactions including sustainable new construction, gut renovations and value-add acquisitions.
The program, administered by the New York City Energy Efficiency Corporation (NYCEEC) on behalf of the City, will help property owners meet the City’s carbon emission targets under the Climate Mobilization Act by providing access to low-cost, long-term capital for energy efficiency and renewable energy retrofits.
The city’s owners they don’t have time to dawdle over New York monumental new carbon emission and façade laws.
By 2024, Local Law 97 requires all buildings larger than 25,000 s/f to cut their emissions or face hefty fines, and 10 years until the level of emissions is cut further and the fines are increased.
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