160 Van Cortlandt Park South will be directly across from Van Cortlandt Park, the third-largest park in New York City. “This site is one of the best sites I have ever seen for affordable and workforce housing. Those who are fortunate to live at 160 Van Cortlandt Park South will enjoy a community thriving with parks, transportation options, good schools, and local shopping,” said Adolfo Carrión Jr., commissioner of the New York City Department of Housing Preservation and Development.
Aufgang Architects 160 Van Cortlandt Park South will be directly across from Van Cortlandt Park, the third-largest park in New York City. “This site is one of the best sites I have ever seen for affordable and workforce housing. Those who are fortunate to live at 160 Van Cortlandt Park South will enjoy a community thriving with parks, transportation options, good schools, and local shopping,” said Adolfo Carrión Jr., commissioner of the New York City Department of Housing Preservation and Development.

Tishman Speyer’s TS Communities, the firm’s affordable housing development platform, announced it will begin construction in January on a 339-unit affordable housing community in New York City.

The firm is developing 160 Van Cortlandt Park South on a portion of a full city block that formerly housed the Visitation Church and School. Tishman Speyer acquired a portion of the site, which had been vacant since the parish merged with nearby St. John’s in 2015, from the Archdiocese of New York in 2022. The remainder of the site was purchased by the New York City School Construction Authority, which is constructing a 700-seat public elementary school.

“This development is the result of years of dedicated partnership and collaboration with the city of New York, Archdiocese of New York, the United Federation of Teachers, and the local community. Together, we are delivering a truly remarkable project that will create much-needed homes for hundreds of families,” said Tishman Speyer senior managing director Michelle Adams.

Located in the Kingsbridge neighborhood of the Bronx, the development will feature units ranging from studios to three-bedroom apartments, with 285 units serving households earning between 40% and 105% of the area median income. The remaining 53 apartments will provide supportive housing for people who previously experienced homelessness, and there will be one superintendent unit.

TS Communities has closed on approximately $222 million of total financing provided via tax-exempt bonds, subsidy loans from the New York City Department of Housing Preservation and Development and the New York City Housing Development Corp., and low-income housing tax credit (LIHTC) equity. Hudson Housing Capital will provide an equity investment from the purchase of the LIHTCs, and Urban Investment Group at Goldman Sachs Alternatives will provide a letter of credit.

United Federation of Teachers president Michael Mulgrew said, “Building affordable housing alongside a new school helps make our city more livable for hardworking families. We hope this effort is replicated across New York City.”

In addition to 160 Van Cortlandt Park South, TS Communities is developing 10 of the 11 buildings that will comprise Edgemere Commons, a 100% affordable community in Far Rockaway, Queens.