Strada Closes on Four Projects in June 2026

Affordable New Construction, Bronx

Strada Development LLC, in partnership with Gilbane Development Company and the Center for Urban Community Services, reached construction loan closing on 1920 Turnbull, a more than $170 million affordable and supportive housing development in the Castle Hill/Soundview neighborhood of the Bronx. The 22-story building will deliver 228 affordable rental apartments, including 137 permanent supportive housing units for formerly homeless individuals and families.

Affordable Preservation, Brooklyn

Colleen Patterson, a Senior Project Manager, and Ben Schwartz, a Project Manager at Strada, assisted a Brooklyn-based non-profit client in closing $4.4 million in financing for 6 units of permanently affordable homeownership housing in Sunset Park, Brooklyn. Funding sources include HPD PLP, HCR SRDI, FHLB NY AHP, HDP ResoA. All units are affordable.

Affordable New Construction, Queens

Ben Schwartz, a Project Manager at Strada, managed the MIH compliance of 34 units of new affordable housing that are part of a $68.5 million new construction project to build 116 units in Flushing, Queens for a for-profit client.

Affordable Preservation, Bronx

Alison Glaser, a Deputy Director, and Susue Li, a Project Manager at Strada, assisted a client in closing a new regulatory agreement for 101 units of 100% affordable housing across 11 buildings in Morrisania, Bronx. Strada secured a 40-year 420-c tax exemption through HPD’s Year 15 program, which also allowed the client to modify and extend its existing debt.

Congratulations to the Strada teams and clients on these hard-won closings.