Geothermal Energy Project a Bargain on Greenwich Ave.

For the first time on Greenwich Avenue in Greenwich, a building will have geothermal wells drilled deep underground as a more environmentally friendly way of heating and cooling the structure.

The project, run by JCS Construction Group of Stamford, includes 12 geothermal wells, 500 feet deep and situated below the future building. The new structure will be located at the bottom of Greenwich Avenue.

Ambient temperature of the ground water will be used for for both heating and cooling systems in the building, significantly reducing the energy consumption and operating expenses of the property, according to Justin Shaw, principle of JCS Construction Group, Inc. the development company and partial owner of CCP 409 Greenwich Ave. LLC.

The project is scheduled to be completed in September, according to JCS spokeswoman Dana Jevarjian.

Went thataway

For years, the multi-story building that previously stood on the site housed Thataway Cafe, a popular downtown restaurant.

That building at 407-409 Greenwich Ave. was razed last fall to make way for the new three-story, 12,000-square-foot structure that JCS is constructing on the site.

The new building also will include a restaurant on the street level with retail space on the second floor and two luxury condominiums with water views on the third floor.

The restaurant is expected to generate excitement in the area's culinary scene as it will be operated "by a celebrity chef who has two restaurants," Jevarjian said. She said an announcement identifying the chef is expected be made in June.

Considerations for using geothermal heating

Shaw explained the decision to use geothermal heating and cooling for the project.

"When you look at geothermal for a home, it is much harder to make the economics work unless you plan to live in the home for over 15 years. In this case, however, the instant utility rebates, tax rebates and accelerated depreciation alone make it attractive" Shaw said in a statement. "The increased revenue is just the cherry on top," he added.

"Although we are not seeking a LEED certification, we do see the value in Green Building and the long term benefits it will have to the community at large. We are pleased to introduce something new to the Greenwich Avenue." JCS has also is using recycled steel for the super structure.

Jevarjian added, "This is a very delicate project, all eyes are on us and we are being very sensitive needs of tourists, the locals and the businesses around the project."

Editor's note: This article, in different form, originally was published by Greenwich Patch.