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BOSTON-The developers of the city’s first environmentally friendly condominium complex have taken out a $77.8-million, three-year loan to fund the completion of 143 condominium units. The South Boston site will also feature 7,100 sf of retail space and a three-level, 289-space parking garage.

The loan, arranged through Hypo Real Estate Capital Corp., a New York City-based subsidiary of Hypo Real Estate Bank International, provides developers Macallen Properties and Pappas Enterprises with funding to turn the 11-story Macallen Building into a mix of studio, one- and two-bedroom, duplex and triplex condominium units. The property is across from the Broadway MBTA stop on the border of the South End

The building–the second phase in the redevelopment of the Court Square Press Building–will be constructed using non-toxic recycled materials such as cotton insulation, bamboo flooring, recycled natural fiber carpet, cork, linoleum and recycled steel. It will also feature low-level energy systems which development officials say will save more than 600,000 gallons of water annually and 30% less electricity than similarly sized conventional building. Amenities at the complex include private outdoor space, a community lap pool and Jacuzzi and use of the health club in the Court Square Press, located next door. As the first residential facility in Boston to qualify for the Leadership in Energy and Environmental Design certification by the US Green Building Council, the building will also feature the only “green roof” in the city.

Construction on the 140 Dorchester Ave. project, designed by Office DA, Design Architect and Burt Hill Kosar Rittleman and Associates, began earlier this year with completion set for December 2006. The units are priced from the low $500,000 to $1.5 million.

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