NEW YORK CITY-A ten-building stretch on West 135^th Street in the heart of Harlem has become the neighborhood’s “greenest” block. In collaboration with private and public investment groups, developer Jonathan Rose Cos., the US Department of Housing and Urban Development, Enterprise Community Partners and the New York City Department of Housing Preservation and Development have completed a $50.8-million tenant-in-place renovation of 198 units located from 107 to 145 W. 135^th Street here.

The project is the first in the country to benefit from HUD’s Green Retrofit Program using federal stimulus funds, which Jonathan F.P. Rose, president of Jonathan Rose Cos., describes as “essential” due to the lack of funding available for new construction. “The solution is to have responsible owners purchase the existing stock as it comes up for sale, extend the period of committed affordability and make green capital and operating improvements,” Rose says in a statement after a ribbon-cutting ceremony on September 12. “Carrying out these goals on a large scale requires committed, innovative, responsive financiers.”

Rose acquired 107-145 W. 135^th in December 2008 with the help of $22.5 million from the New York City Acquisition Fund, a public/private partnership fund that provides acquisition and predevelopment loans for creating and preserving affordable housing. The developer also used its own Rose Smart Growth Investment Fund devoted to green repositioning. At the time, the company worked directly with HUD officials to obtain a 15-year Section 8 contract renewal to preserve the affordability of the buildings.