Construction reached a major milestone with the topping out of Phase Two of The Peninsula, a fully affordable mixed-use development in Hunts Point. The project will add 359 new affordable apartments to the neighborhood along Spofford Avenue, expanding on the success of Phase One completed in 2022.
The $297 million development includes two mid-rise buildings offering a range of apartment sizes from studios to four-bedroom units. Nearly three-quarters of the apartments will be available to households earning 60 percent or less of the area median income. Another 15 percent will be set aside for formerly homeless families.
The Peninsula aims to transform the former Spofford Juvenile Detention Center site into a vibrant community hub with residential, retail, cultural, and industrial space. Amenities planned for the new buildings include fitness centers, early childhood facilities, outdoor terraces, bicycle storage, and underground parking. Sustainable design features will capture rainwater and incorporate solar panels on the roofs.
When fully complete after the third phase, The Peninsula will include 740 affordable homes, retail space including a grocery store, a public plaza covering tens of thousands of square feet, and community facilities such as a Head Start program, cultural arts center, and health and wellness center.
The project represents a collaborative effort between developers Gilbane Development, Hudson Companies, MHANY Management, and Broadway Builders, alongside city agencies and local leaders. It reflects a commitment to addressing the Bronx’s housing needs while supporting local businesses and cultural organizations.
Construction is expected to finish in July 2026, continuing the transformation of Hunts Point into a neighborhood with stable housing and expanded opportunities.
