Battery Park's green building debuts.

Calling it the "beginning of a grand experiment," officials broke ground June 1 on America's first "green" high-rise residential building.

"While the first cost of a green building is higher than the cost of a conventional building, we intend to demonstrate to the construction world that such costs will be offset by energy savings within a relatively short period of time," said James Gill, chairman of the Hugh L. Carey Battery Park City Authority.

The 27-story, $110 million building is located at 20 River Terrace at the corner of Murray Street and River Terrace in Battery Park City. It is being developed, by Albanese Development Corporation in accordance with the authority's "green guidelines."

Architects on the project are Cesar Pelli & Associates and Schuman Lichtenstein Claman Efron and the construction manager is Turner Construction Company. Among consultants on the project are Cosentini Associates, the Cantor Seinuk Group, Green October LLC, and Feathered Nest.

"As energy costs rise, the pay-back timeframe for the investment will get shorter and shorter," said Tim Carey, president of the Battery Park City Authority.

The Battery Park City Authority installed a video camera on a nearby apartment building that will allow "sidewalk superintendents" to monitor progress on the building via the Internet at www.batteryparkcity.org. Observers can watch the installation of specific systems follow links to get additional information on specific points of interest and read chapters telling the story of the building's development.

By clicking on "Diary of a Green Apartment," visitors can follow development of apartment 4L. From floor plan to completion, they will be able to watch the installation of environmentally responsible technologies and materials. Web site-visitors can also access a documentary video, historical photographs and documents and other information about the new green building and Battery Park City.

The building will have approximately 280 units averaging about 1,100 SF in size; 65 percent of the units will have two or three bedrooms and their own laundry facilities. Two more green apartment buildings on nearby sites are currently under development. Among building features are:

* On-site storage, filtering and recycling of waste water to supply flush water for toilets

* Photo-voltaic panels for generating electric power to provide at least five percent of base building electric load

* The collection of storm water from the roof in, storage tanks that use 10 percent less water than required by the Energy Policy Act of 1992

* Energy strategies that are 35 percent more efficient than current state codes, including dimmable and motion-detector controlled lighting, low-E glazing, high efficiency, insulation, 30 percent more natural light and energy-efficient appliances

* Efficient HVAC systems with high amounts of filtered outdoor air, with 85 percent of particles removed

Russell Albanese, president of Albanese Development Corporation, said the project, will give the city a building that "not only contributes to the well-being of the environment, but also to the healthfulness of its inhabitants."

"This building will introduce a new tier of choice in residence: one in which New Yorkers can select their home on the basis of issues such as air quality, energy efficiency and abundant natural light," Albanese said.

A tax credit designed to encourage the construction of green buildings proposed by Governor George Pataki went into effect Jan. 1. It will provide $25 million in tax savings through 2004 and promote improved environmental standards, in crease- energy efficiency, and create awareness of new technologies that can improve the quality of life in environmentally friendly buildings.

Officials are hoping that 20 River Terrace will be the first building to receive tax credits under the new law.

"We need developers who will take the risk but we also need state support," Pataki said. "We know that capital costs are higher, but over time. you can lower your costs."