As part of its mission to drive energy-resilient and community-centered development, TruFund Financial Services, Inc., through its Resilience & Sustainability Fund, has successfully closed on nearly $2 million in financing to support the predevelopment of a groundbreaking affordable housing project in East Williamsburg, Brooklyn.
The project—spearheaded by nonprofit developer St. Nicks Alliance—will result in a 14-story, 185-unit affordable multifamily building exclusively for seniors earning below 60% of the Area Median Income. Designed to Passive House standards, the building will be fully electric, integrating geothermal heating and cooling systems along with a 50 kW rooftop solar array to significantly reduce energy consumption and carbon emissions. Once complete, it will connect to and expand upon the existing Jennings Hall senior housing facility, reinforcing the developer’s long-standing commitment to serving vulnerable populations.
TruFund’s nearly $2 million investment—delivered through a partnership with the New York City Energy Efficiency Corporation (NYCEEC)—will help finance the essential predevelopment work needed to move the project toward construction. This includes final design, environmental studies, and permitting, paving the way for anticipated construction financing from NYC’s Housing Development Corporation (HDC) and Department of Housing Preservation and Development (HPD).
The building, totaling 172,000 square feet, is projected to generate:
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1,003 MMBtu in annual source energy savings
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1,212 metric tons in lifetime greenhouse gas reductions
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100% affordable units for seniors in need
Set for completion in 2028, the development represents a critical step toward advancing green, equitable development in a city where affordable housing and climate resilience are both urgent priorities.
Through initiatives like the Resilience & Sustainability Fund, TruFund continues to deliver high-impact financial solutions that align capital with green energy and community goals.
