All renderings courtesy of Alloy Development

The future tallest Passive House building in the world is moving ahead in Downtown Brooklyn. Alloy Development and the Vistria Group on Tuesday announced the closing of $535 million in capital for the construction of One Third Avenue, a 730-foot mixed-use project with 583 apartments, retail, and office space. The tower is the final piece of the Alloy Block, a five-building complex that includes more than 1,000 homes, the city’s first all-electric skyscraper , and two Passive House public schools .

Vistria is investing more than $120 million in equity, while Kayne Anderson Real Estate is providing $375 million in debt financing. The deal marks Vistria’s first ground-up development under its real estate strategy.

“One Third Ave represents

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