GILBANE DEVELOPMENT, HUDSON COMPANIES, AND MHANY CELEBRATE OPENING OF THE PENINSULA PHASE TWO, DELIVERING 359 AFFORDABLE HOMES TO THE BRONX

GILBANE DEVELOPMENT, HUDSON COMPANIES, AND MHANY CELEBRATE OPENING OF THE PENINSULA PHASE TWO, DELIVERING 359 AFFORDABLE HOMES TO THE BRONX

• Press Release
• November 13, 2026

Second phase of three-phase redevelopment brings new affordable homes, daycare, community spaces and public amenities to the former Spofford Juvenile Detention Center in Hunts Point

BRONX, NY (Nov. 12, 2026) - Gilbane Development, The Hudson Companies and MHANY today celebrated the ribbon cutting of Phase Two of The Peninsula, marking another major milestone in the transformation of the former Spofford Juvenile Detention Center into a vibrant, mixed-use community in the Hunts Point neighborhood of the Bronx.

The $297 million second phase includes Buildings 2A and 2B, located at 1221 and 1225 Spofford Avenue, and delivers 359 affordable apartments, including 305 affordable units and 54 units set-aside for the homeless. The new residences range from studios to four-bedroom apartments, providing much-needed housing opportunities for New Yorkers across a range of income levels. 73 percent of the apartments are affordable to households earning at or below 60% of area median income (AMI), with 15 percent reserved for formerly homeless households.

Phase Two is part of a larger, three-phase redevelopment that will ultimately bring over 740 affordable homes to Hunts Point, alongside community facilities, cultural spaces, local businesses, and publicly accessible open spaces. Building on the success of Phase One, completed in 2022, this latest milestone advances the development's long-term vision of creating a connected, thriving neighborhood.

"Today marks an exciting new chapter for The Peninsula and the Hunts Point community," said Yarojin (Roj) Robinson, Senior Vice President, Affordable & Mixed-Income Housing, Gilbane Development. "What was once a site that divided this neighborhood is now a place bringing people together and creating new opportunities. With the completion of Phase Two, we're delivering 359 high-quality, affordable homes where New Yorkers can put down roots and build their futures. This milestone reflects years of dedication, collaboration and a shared commitment to creating a community that residents are proud to call home. We're incredibly grateful to our partners and the Hunts Point community for helping bring this vision to life."

"The Peninsula highlights the power of thoughtful redevelopment, transforming a once-controversial site into one that realizes the needs of and offers resources to the local community," said David Kramer, President of the Hudson Companies. "We're proud to contribute to the broader revitalization of Hunts Point by providing hundreds of new affordable homes, opportunities for upward mobility, and community spaces to promote residents' overall well-being. This milestone wouldn't be possible without the support from Gilbane, MHANY, and our public partners, as well as the advocacy from the Hunts Point community."

Designed to support residents and strengthen the surrounding neighborhood, Buildings 2A and 2B feature fitness rooms, in-building laundry facilities, resident lounges with access to outdoor terraces, common areas with Wi-Fi, and bicycle storage. Phase Two also includes an early childhood center, a 45,000-gross-square-foot landscaped public pedestrian plaza and 21,777 gross square feet of community facility space. These additions create more opportunities for residents and neighbors to gather, connect and access resources close to home.

The buildings also incorporate sustainable design features, including rainwater harvesting systems and rooftop solar panels, supporting the development's commitment to long-term environmental stewardship.

Developed in partnership with MHANY Management Inc. and supported by public and community partners, The Peninsula reflects a shared commitment to expanding affordable housing and creating lasting opportunities for Bronx residents.

Beyond housing, The Peninsula is designed to support the everyday needs of the Hunts Point community. Its broader master plan includes community facilities, health and wellness services, cultural spaces, local businesses and publicly accessible open space.

The completion of Phase Two builds on the progress of the development's first phase, which opened in 2022 and delivered 183 affordable apartments, a 14,000-square-foot cultural arts center and a 57,000-square-foot light-industrial building. The first phase has helped create opportunities for local entrepreneurs, small businesses and cultural organizations, supporting economic activity and community connections within Hunts Point.

When all three phases are complete, The Peninsula will include four mixed-use residential buildings and a light-industrial manufacturing building, delivering 740 affordable homes alongside retail, community facilities, and publicly accessible open space. The Peninsula will also welcome the first NYC Groceries location in 2027, bringing fresh, affordable food to New Yorkers while furthering the development's broader goal of creating a more affordable, vibrant, and connected Hunts Point neighborhood.

From the beginning, The Peninsula has been shaped by the priorities and aspirations of the Hunts Point community. The opening of Phase Two marks another step toward realizing that vision, expanding access to quality affordable housing while creating spaces that support residents, strengthen neighborhood connections and contribute to the Bronx's future. Visit thepeninsulabx.com for more information.

About Gilbane

Gilbane is the trusted leader in end-to-end solutions for the built environment, with integrated expertise across real estate investment, development, full-service construction, and property and facilities management.

Family-owned since 1870, Gilbane is one of the oldest and largest privately held real estate development and construction companies in the world. With more than 45 offices, and 4,000+ employees worldwide, Gilbane pairs global experience with deep community connections to empower clients to move from vision to long-term performance with confidence. Guided by values that put people first and prioritize innovation, Gilbane builds trust, strengthens communities, and is driven by a purpose to boldly shape the world. Learn more at gilbaneco.com.

About Hudson Companies

The Hudson Companies is a leading real estate developer in New York City and the Tri-State area. At Hudson, we develop housing for everyone. From townhouses to high rises, and from transitional housing to mixed-income rentals to luxury condominiums, we have touched all housing typologies. Our collaborative team is guided by entrepreneurial vigor, civic spirit, and deep expertise. We are fully integrated, having close affiliates that handle property management and leasing (Lisa Management) and general contracting construction services (Broadway Builders, a WBE firm). Our team is diverse, and our motivations arise from varied personal and professional experiences, but our crucial commonality is a desire to thoughtfully add to the city's great blocks and boroughs. Hudson has completed nearly 10,000 residential units, and has thousands more in its development pipeline. https://www.hudsoninc.com/