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Investors - APRIL 25, 2023

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Lendlease, Aware Super JV break ground on largest geothermal residential building in New York State

by Denise Moose

Lendlease and joint venture partner Aware Super 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 United States, 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

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