Strada Development, Gilbane, and CUCS Reach Financial Close on $170 Million Bronx Development

Strada Development LLC, in partnership with Gilbane Development Company and the Center for Urban Community Services (CUCS), has reached financial close on 1920 Turnbull, a more than $170 million affordable and supportive housing development in the Castle Hill/Soundview neighborhood of the Bronx. This is Strada Development’s first project, and it advances a major investment in high-quality, sustainable housing that expands access to safe, affordable homes for hundreds of New Yorkers.

Located at 1931 Lafayette Avenue, 1920 Turnbull will deliver a 22-story building with 228 affordable rental apartments, including 137 permanent supportive housing units for formerly homeless individuals and families. CUCS will operate a 3,500 square foot on-site office providing residents with case management, behavioral health support, benefits assistance, employment services, and connections to community resources. The building will also include a 24/7 staffed lobby, outdoor recreation space, a fitness room, a community room, bike storage, and laundry facilities.

The development is designed to meet Passive House and Enterprise Green Communities standards, with high-performance insulation, energy-efficient systems, and fully electric heating and cooling. The site is enrolled in the New York State Brownfield Cleanup Program, ensuring environmental remediation alongside the new housing.

1920 Turnbull is the first of two planned buildings. Phase 2 will add 207 additional affordable apartments, with 15 percent designated as permanent supportive housing, and is expected to close within the next year pending City approvals. Together, the two phases will create a unified, deeply affordable housing community in a well-connected location near supermarkets, parks, and transit.

Reflecting on the closing, Strada Founder and Principal Courtney Horwitz said:

“One of the hardest parts of a supportive housing project is securing the financing, especially when the homes include deep affordability and on-site services that make the numbers hard to pencil. That’s the work Strada was created to do, and reaching the construction loan closing means hundreds of families in Soundview are now on their way to a stable place to live.”