The Solaire

The Solaire was the first "green" residential-use building in New York City. Completed in 2003, it is described as an "environmentally-progressive residential tower" (see [http://www.thesolaire.com] ). The building has been rated "U.S. Green Building Council LEED-NC, v2 – Level: Gold".

The energy conserving building design is 35% more energy-efficient than code requires, resulting in a 67% lower electricity demand during peak hours, resulting in (among other benefits):

* Lower electric bills for residents
* Photovoltaic panels convert sunlight to electricity
* Computerized building management system and environmentally responsible operating and maintenance practices

Although these features would seem to be a hallmark in general for future building projects due to energy efficiency, the building was quite expensive to build. The developer received funding from the State of New York, which was somewhat controversial as the developer was only required to agree to set aside 10% of the units as "affordable housing", rather than the usual 80:20 agreement. When the building opened rents ranged from roughly $2500 to $6000 depending on the size of the unit. Many of the current and former tenants work on Wall Street, including Brian Finnerty, former cable TV financial expert and former trader at the investment bank C.E. Unterberg Towbin (see [http://www.thestreet.com/markets/aarontaskfree/1489512.html] ).

The Solaire is located at 20 River Terrace in Battery Park City, one of the most affluent neighborhoods in New York City with a view that spans from Jersey City in the west to a glimpse of the Empire State Building, the tallest building in NYC since the 9/11 terrorist attacks, standing above the rest of its surroundings.