FOR IMMEDIATE RELEASE: September 22, 2026
Press Contact: [email protected]
RiseBoro Community Partnership Closes Financing for Solar Installation Across 12 Affordable Housing Properties
Amidst NYC Climate Week, $4.3 Million Project Will Bring Nearly 600 Kilowatts of Solar Power to Brooklyn and Bronx Affordable Housing, Cutting Utility Costs, and Supporting Building Improvements
NEW YORK — RiseBoro Community Partnership, New York City’s premier affordable housing developer and social services provider, today announced it has closed on financing to install solar power systems across 12 of its affordable housing properties in Brooklyn and the Bronx. The $4.3 million project, structured through RB Solar — a RiseBoro-controlled entity that will sell power back to its own affiliate buildings — will bring nearly 600 kilowatts of solar capacity online across the portfolio, with construction beginning this fall.
“RB Solar is the next step in RiseBoro’s long-standing commitment to make our housing portfolio both sustainable and affordable,” said Kieran Harrington, Chief Executive Officer of RiseBoro Community Partnership. “The savings this generates frees up real resources we can direct toward repairs and improvements across our 146 affordable properties that make a difference to our residents’ quality of life.”
The project will install solar systems at properties across four RiseBoro developments — RiseBoro TPT 10, Casa Pasiva, Woodlawn Senior Living, and Bethany Senior Terraces — spanning both new ground-up development and the rehabilitation of smaller, existing rent-stabilized buildings, the kind of properties that rarely see this level of clean energy investment. Sites were selected in part because recent roof replacements made solar installation possible and cost-effective. The largest system, at Bethany’s Senior Terraces, is intended to move that property toward net-zero energy use.
“Bethany Senior Terraces is exactly the kind of building that should be leading on clean energy — permanently affordable, home to formerly homeless seniors, and too often the last place this kind of investment reaches,” said New York State Senator Kevin Parker. “As utility costs keep climbing, solar is a lifeline to buildings like this, and I’m proud to see RiseBoro taking control of its energy future and putting the savings right back into the building investments its residents deserve.”
“This is the kind of investment that pays off twice with lower emissions today and resources for building improvements for years to come,” said New York State Senator Julia Salazar. “RiseBoro is showing that sustainability and affordability aren’t competing priorities in this city. They go hand in hand.”
”Climate investment must reach beyond new construction—it must also reach the homes and communities that New Yorkers already call home,” said New York State Assemblymember Monique Chandler-Waterman. “Bringing solar energy to affordable housing like Bethany Senior Terraces is a meaningful step toward creating more sustainable, resilient, and energy-efficient communities while preserving affordable housing for the people who call our neighborhoods home. I’m proud to see this investment come to our district and grateful to RiseBoro and NYSERDA for demonstrating what is possible when we put climate action and housing stability together.”
“Too often, the buildings that need this kind of investment most — older, rent-stabilized housing — are the last to get it,” said New York State Assemblywoman Maritza Davila. “RiseBoro is proving it doesn’t have to be this way, and I’m glad to see this kind of clean energy investment reach the buildings and residents who it will benefit most.”
“RiseBoro is showing how creative approaches to rooftop solar can deliver meaningful climate and affordability benefits for New York City’s affordable housing communities,” said Stephen Levin, Chief Executive Officer of Solar One. “As HPD’s Solar Technical Assistance Provider, Solar One worked with RiseBoro as the first project to successfully navigate the streamlined Solar Consent process our nonprofit created with HPD. We’re thrilled to see this innovative project and RiseBoro’s climate leadership bring clean energy to twelve affordable housing properties.”
Financing was provided by BlueHub Capital, a U.S. Treasury-certified Community Development Financial Institution (CDFI) that specializes in financing affordable housing and clean energy projects. New York State’s NYSERDA incentive program and the federal Investment Tax Credit will cover roughly two-thirds of total project costs; RiseBoro secured its ITC allocation shortly before a federal deadline that will phase out the credit for future projects next year.
Once operational, the systems are projected to save RiseBoro’s affiliate buildings between $2 million and $3 million in electricity costs over 25 years, insulating them from fluctuating utility rates. Substantial savings will be directed into a reserve account at each property, funding upkeep, amenities, and other building improvements that benefit residents. The investment builds on RiseBoro’s broader sustainability record, including a nearly 58% reduction in emissions intensity since 2014 among buildings selected for the NYC Carbon Challenge.
Construction is expected to begin in November 2026, with all systems completed by June 2027.
###
About RiseBoro Community Partnership
RiseBoro Community Partnership is New York City’s leading non-profit affordable housing developer and social services provider. Operating for more than 50 years, RiseBoro uses a unique and holistic model to revitalize communities, with programs in housing, senior care, education, health, and empowerment. Using affordable housing development as a foundation, RiseBoro’s approach helps unleash the potential of New York’s most underserved populations.
