Riverbay Co-Op City Electrical Upgrades
New York State Housing Finance Agency – NYS Homes and Community Renewal
641 Lexington Ave
New York, NY 10022
Amount Requested: $3,800,000
The Riverbay Co-Op City Electrical Upgrades project will replace 32 of the original building level transformers that have experienced twice the expected life cycle of the transformers. These transformers are essential to delivering electricity for heating, cooling, water systems, and overall building operations. Failure of this infrastructure poses significant risks, including widespread outages, potential cascading system failures, and serious threats to resident health and safety—particularly during extreme weather conditions. The upgrades will guarantee 30 years of reliable services for the buildings. Riverbay/Co-op City has a centralized power plant that feeds 35 high-rise buildings via a 13,200V-480V transformers, with each building utilizing two transformers capable of feeding the entire structure or individual halves.
Federal nexus: The project has a federal nexus because the funding provided is consistent with purposes authorized in 42 U.S.C. 5305(a)(2) and 5305(a)(4).