Gilbane, Strada Break Ground on $175M Bronx Housing Tower With 228 Affordable Apartments

• $175 million development: Gilbane Development, Strada Development, and the Center for Urban Community Services (CUCS) have broken ground on a 22-story residential building in the Bronx.
• 228 affordable apartments: The first phase includes 137 permanent supportive housing units for formerly homeless individuals and families.
• 435 units planned: A second phase could add 207 more affordable apartments, subject to city approvals.
• Project address: 1920 Turnbull Avenue, Soundview, Bronx, NY.

What Are Gilbane and Strada Building in Soundview?

Construction has started on 1920 Turnbull, a 22-story affordable housing development led by Gilbane Development, Strada Development LLC, and CUCS. Designed by Magnusson Architecture and Planning, the project will transform an underutilized surface parking lot into a residential property with on-site support services. The first phase will deliver 228 affordable rental apartments, including 137 permanent supportive housing units. CUCS will operate a 3,500-square-foot service office inside the building, offering residents access to case management, behavioral health support, benefits assistance, and employment services. Amenities will include a 24-hour staffed lobby, fitness room, community room, outdoor recreation space, bicycle storage, and laundry facilities.

 

 

What Is the Project Budget and Financing Structure?

The development is valued at approximately $175 million and reached financial close in June 2026. Financing involves the New York City Housing Development Corporation, the New York City Department of Housing Preservation and Development, and Capital One. New York City’s 15/15 supportive housing initiative will help fund rental assistance and services for eligible residents. The project also received $3.5 million in fiscal 2026 capital funding directed by City Council Member Amanda Farías. For affordable housing developers, the project highlights how public financing, private capital, and nonprofit service partnerships can help advance developments that may be difficult to finance through conventional market-rate rents alone.

What Makes the Building Different?

The development is targeting Passive House and Enterprise Green Communities standards, with high-performance insulation, energy recovery ventilation, and all-electric heating, cooling, hot water, and cooking systems. Ninety apartments will be income-restricted to households earning up to 60% of area median income. The combination of energy-efficient construction and supportive services is designed to promote long-term housing stability while managing building energy use. The site is also undergoing remediation alongside construction through New York State’s Brownfield Cleanup Program. Coordinating environmental cleanup with building work is a key part of redeveloping previously underutilized urban sites.

What Could Phase Two Mean for Bronx Housing?

1920 Turnbull is the first of two planned buildings on the development assemblage. The proposed second phase would add 207 affordable apartments, bringing the overall plan to 435 homes. That phase remains subject to city approvals and is expected to move forward within the next year. The project reflects continued investment in affordable and supportive housing across the Bronx, where developers are using underused sites to expand residential capacity. For owners and investors, these projects also demonstrate the importance of public financing programs, environmental review, and long-term operating structures in affordable housing development. Completion of the first building is slated for March 2029. If the second phase advances, the broader development would make a substantially larger contribution to Soundview’s affordable housing supply.