Jonathan Rose Co. breaks ground on $20m Metro Green Apartments

Jonathan Rose Companies, LLC, a green real estate development, planning, consulting and investment firm, broke ground June 3rd on Metro Green Apartments, 50 units of green affordable housing, situated on Henry St. between Atlantic St. and Washington Blvd. Metro Green Apartments is the first phase of Metro Green Residential, a candidate for LEED New Construction and Neighborhood Development certification that includes 238 mixed-income rental and for-sale residences on a mixed-use, Transit Oriented Development site. The Metro Green project serves as a model for smart growth in Conn. and beyond. In addition to the Jonathan Rose Co. and W&M Props., Metro Green Residential joint venture, Metro Green will feature a 350,000 s/f, 17-story, LEED Platinum candidate office tower as well as numerous public improvements to the streetscape along Henry and Atlantic Sts. Metro Green Apartments integrate features that enhance the urban environment, promote better health for residents, are energy efficient, and save residents money. By using an integrated design approach from the outset of the project, Jonathan Rose Cos. was able to provide outdoor recreational space for tenants that exceeds city's zoning requirements and specify energy-efficient mechanical systems, a high-performance roof and insulation system, as well as green building materials including recycled and low VOC components at no significant additional cost to the project. The cost for thefirst phase of construction is $14 million and the total cost will be $20 million. Financing was arranged through JPMorgan Chase, GE Capital, The Conn. Housing Finance Authority and the city of Stamford.