505 State Street

Organization Name: Alloy Development

Project Title: 505 State Street

Project Location: Brooklyn

Project Description:
505 State Street is a mixed-use residential and retail tower that is part of the first phase of a larger full block development in Downtown Brooklyn on track to become the most sustainable block in Brooklyn. 505 State Street is New York's first All-Electric skyscraper powered by local renewable energy. Completed in Spring 2024 and houses 441 apartments, 45 of which are affordable units and retail at grade and below along Flatbush Avenue. Built with good design, thoughtful amenities, and sustainable principles, 505 State Street offers a more impactful way of living. Yafa, a local coffee shop is located at the entry welcoming residents and the local community. Apartments feature exposed concrete ceilings, large energy efficient triple paned windows, built in cabinetry and appliances, induction cooktops and smart thermostats. The team promised to deliver the most sustainable block in Brooklyn’s history and the first phase includes NYC’s first all-electric skyscraper, the city’s first passive house public schools, and Brooklyn’s first LEED community. We are living in a climate emergency and have the capacity to address this challenge to show how we can live sustainably in Brooklyn.

Community Impact:
Our mission as a company is to build a more beautiful, equitable and sustainable, Brooklyn. The urban plan for the block was two preserve the two structures that we felt were historic contributing buildings and to build schools, housing, office and retail space for the people of Brooklyn.
The first phase included the relocation of the existing Khalil Gibran International Academy high school, the addition of a brand-new lower school and a mixed-retail and residential tower. In response to National Grid gas moratorium and given our desire to build the most sustainable block in Brooklyn, we built NYC’s first All-Electric Skyscraper powered by local renewable energy and advocated to develop NYC’s first Passive House public schools.
We wanted the block to be inclusive of the surrounding community and to encourage the creation of space for diverse groups of people to live, work, and thrive. We held free OSHA training sessions for local NYCHA residents, hired dozens of local, entry-level candidates, achieved 43% MWBE participation on the tower and 35% MWBE on the school, creating over 200 affordable units with an average of 60 AMI, and we created $240MM of public benefit with $0 capital dollars.

Organization Description:
We are committed to making Brooklyn beautiful, sustainable and equitable. As architects and developers, we see opportunity in the diversity and complexity of our urban context, and we use great architecture and thoughtful development to positively impact our built environment. Through our unique organizational culture, we challenge the architecture and real estate disciplines by questioning existing practices and proposing new ways to benefit the social and built environment.

Team Members:

Thank you to UAG, Silman, Magnusson Klemencic Associates, AKRF, Costentini, Thronton Tomasetti, Brightpower, Front Inc., Langan, William Vitacco, Lighting Workshop, INC, and Nelson Byrd Woltz.