news—07.22.2021

Solar Panels Installed at Large Affordable Housing Complex in the Bronx

Feature Story

People standing next to solar panels on apartment rooftop

​​​​​​​​​Taconic Partners and Clarion recently hosted a conference and reception to celebrate the completion of their solar power project at Quality Comm​unities property, Eastchester Heights, in the Bronx. Eastchester Heights is a 1,416 unit residential apartment complex which spans five city blocks and 114 individual buildings. Built in 1935 and situated on 14.84 acres, it is among the largest residential communities in the Bronx, and in greater New York City.

Taconic and Clarion contracted Bright Power​, an energy and water management consulting and construction company, to design and install 917 kilowatts of solar photovoltaic panels. By adding solar, Taconic and Clarion are improving an existing property while reducing its emissions. The solar installation will produce over 1.1 million kilowatt hours of clean electricity, equivalent to removing 165 cars from the road for a year or the carbon sequestered by over 12,800 tree seedlings grown over 10 years.

“Clarion Partners is proud of the investment Eastchester Heights is making in clean energy," said Katie Vaz, Managing Director, Clarion. “We are excited to include Eastchester Heights as a contributor to our ever-growing portfolio of properties which collectively produce over 30 MW's of solar power annually."

Solar panels on a rooftop  Eastchester Heights playground area

With new legislation in New York City aimed to reduce emissions from existing buildings, Taconic and Clarion are now one step ahead in helping the city meet its goal to reduce greenhouse gas emissions by 80% by 2050. The solar panels at Eastchester Heights will help New York State reach its goal of 100% carbon-free electricity by 2040 and decrease emissions in an area that has the highest asthma rates in the country.

"Bright Power applauds Taconic and Clarion's commitment to clean, renewable energy. A solar installation of this magnitude sets an example for other real estate owners," said Jeff Perlman, Founder and CEO ​of Bright Power. "Taconic and Clarion are making the Bronx more sustainable while they preserve high-quality affordable workforce housing. It's a win for the Bronx, Eastchester Heights residents, and the environment."


Top photo (L to R): ​Director ​of Community Relations Alexandrae Wint; Kevin Riley of NY City Council District 12; Paula Schaefer of Clarion Partners; Andrew Schwartz of Taconic Partners; David Sandbank of NYSERDA; and Jeff Perlman of Bright Power.

Definitions

Footnotes

Disclosures

Get in touch

We're here to answer your questions.

Contact us

Our offices

  • New York (HQ)
  • Boston
  • Dallas
  • Los Angeles
  • Washington D.C.
  • London
  • Frankfurt
  • Jersey
  • Madrid
  • Paris

Investment in real estate is speculative and involves significant risk. For more information about certain of the material risks and limitations associated with Clarion Partners’ investment advisory products, strategies and services, please see Clarion’s current Form ADV Part 2A brochure, which is available on the SEC’s Investment Adviser Public Disclosure website at https://adviserinfo.sec.gov/firm/summary/108803. Investors should consider their investment objectives, and it is strongly suggested that the reader seek his or her own independent advice in relation to any investment, financial, legal, tax, accounting or regulatory risks and evaluate their own risk tolerance before investing.

This material does not constitute investment advice, nor does it constitute an offer in any product or strategy offered by Clarion Partners LLC or Clarion Partners Europe, and should not be viewed as a current or past recommendation to buy or sell any securities. Any specific investment referenced may or may not be held in a Clarion Partners client account. It should not be assumed that any investment, in any property or other asset, was or will be profitable.

All Clarion Partners LLC and Clarion Partners Europe statistics, data and charts, including but not limited to assets under management (AUM), ESG data, sector data and property data, as well as data related to our investors, tenants and employees, are as of June 30, 2024 unless otherwise noted.

Photos used in this website were selected based on visual appearance, are used for illustrative purposes only, and are not necessarily reflective of all the investments in a Clarion fund or portfolio or the investments a Clarion fund or portfolio will make in the future.

close

You are leaving www.clarionpartners.com and being directed to a new site.

You have selected a link that will take you away from the Clarion Partners website. Although we have verified the accuracy of this link from our website to a third party website, the content of the web pages may change without notice. We are not responsible for the content, views, or privacy policies of the third party website. Privacy and security policies of such site may differ from those practiced by Clarion Partners.

By clicking on the ACCEPT button below, you acknowledge the previous statement and will be taken to the linked site. If you want to remain at this site, select the DECLINE button.

Decline Accept