New York to Host World’s Largest Green Building
SYRACUSE, N.Y. — The Syracuse Industrial Development Authority issued a $238 million bond to finance construction of a sustainable retail complex.
Destiny USA, slated to be the largest sustainable building in the world, will include stores, hotels, theaters, restaurants and a research park. It will be powered entirely by renewable energy, according to reports. The 800-acre project is expected to cost $20 billion.
The project is the first of four selected to receive funding from Green Bond, a $2 billion bond program financed by the U.S. Treasury to support sustainable building projects. The pilot program will provide tax-exempt financing for energy efficient and environmentally friendly construction projects.
Several projects competed for the funding. The four recipients, including Destiny USA, have committed to using renewable energy technology and sustainable design elements that will lower energy consumption and reduce air pollution.
Collectively, the projects aim to displace 150 megawatts of electricity from the grid through energy-efficient technology, install 900,000 square feet of solar panels and 25 megawatts of fuel cell electric generation, and reduce sulfur dioxide emissions by at least 10 tons per day.