All-electric waterfront development in Brooklyn’s Greenpoint neighborhood also includes climate-resilient shoreline and over 250 affordable residences
Lendlease, a global integrated real estate group, and joint venture partner Aware Super, one of Australia’s largest superannuation funds, announced the start of construction on 1 Java Street, an 834-unit residential development along the Greenpoint waterfront in Brooklyn that, upon completion, will be New York State’s largest geothermal residential building.
As Lendlease’s first rental multifamily project in New York, the integrated development will harness Lendlease’s Investment Management, Development and Construction business expertise. Joining Lendlease for the groundbreaking ceremony were project and community partners.
In addition to featuring the geothermal system, which is believed to be one of the largest geothermal residential buildings in the U.S., 1 Java Street will be fully electric and use no natural gas. Together, these features align with Mission Zero – Lendlease’s goal of achieving absolute zero carbon across scopes 1, 2 and 3 by 2040 – and ensure 1 Java Street will meet or exceed Local Laws 97 and 154, both of which are part of New York City’s pioneering decarbonization legislation.
Slated for completion in late 2025, 1 Java Street will set aside 30% of units as affordable housing under the Affordable New York Housing Program. To fully integrate with the surrounding community, the development will feature a new public waterfront esplanade with a living shoreline and direct access to the India Street Pier, which was improved as part of the project and is served by the East River Ferry. 1 Java Street will also offer 13,000 square feet of neighborhood-oriented retail space.
“Lendlease is bringing the full weight of its investment management, development and construction expertise to this integrated project, which demonstrates our global commitment to creating inclusive communities on prominent sites with unrealized potential,” said Claire Johnston, CEO, Lendlease USA. “1 Java Street pushes the boundaries of what is possible for socially and environmentally sustainable living in New York.”
“We are privileged as a joint venture partner alongside Lendlease to be overseeing the development of 1 Java Street,” said Alek Mislev, Senior Portfolio Manager – Property, Aware Super. “It will be a beacon for Brooklyn’s waterfront and future decarbonization initiatives and is another wonderful example of how we can responsibly generate strong returns for our global property portfolio.”
Designed by Marvel, 1 Java Street will comprise five interconnected buildings on a full city block. These include two towers facing the East River at 37 stories and 20 stories tall, a six-story building facing West Street, a 10-story building facing India Street and a six-story building facing Java Street.
1 Java Street represents the sixth project developed and operated as part of the Aware Super and Lendlease joint venture Americas multifamily portfolio, which achieved net zero carbon in 2021. The joint venture’s stabilized assets were also recently recognized by GRESB as Regional Sector Leader for superior ESG performance.
In the U.S., Lendlease’s development business brings over 60 years of global experience to bear in urbanization, communities and infrastructure development. Leveraging placemaking expertise and an integrated business model, Lendlease is committed to delivering transformational urbanization projects and investments in gateway cities that generate social, environmental and economic value.
About 1 Java Street
Developed by Lendlease, 1 Java Street is a sustainable, urban regeneration development along the Greenpoint waterfront in Brooklyn, New York. Scheduled for completion in late 2025, the project will comprise 834 rental units, 30% of which have been designated as affordable housing under the Affordable New York Housing Program. The all-electric property will utilize a vertical closed-loop geoexchange system, making it the largest geothermal residential development in New York State. Designed by Marvel, 1 Java Street will be comprised of five interconnected buildings, including a 37-story and a 20-story tower. The property will feature nearly 13,000 square feet of retail space, as well as an 18,000-square-foot public waterfront esplanade connecting to the India Street Pier, which is served by the East River Ferry. Targeting LEED Gold certification and designed to meet or exceed Local Law 154, New York City’s legislation that mandates new construction to be all-electric, and Local Law 97, New York City’s decarbonization legislation, 1 Java Street aligns with Mission Zero, Lendlease’s industry-leading initiative to reach absolute zero carbon by 2040.
About Lendlease
Lendlease (www.lendlease.com) is a globally integrated real estate group with operations in Australia, Asia, Europe and the United States. We create places where communities thrive. Headquartered in Sydney, Australia and listed on the Australian Securities Exchange (ASX:LLC), Lendlease has approximately 7,700 employees globally. Our core capabilities are reflected in our operating segments of Investments, Development and Construction. The combination of these three segments provides us with a sustainable competitive advantage in delivering innovative integrated solutions for our customers.
