Construction has officially topped out on the second phase of The Peninsula, a five-building, 100% affordable housing development rising in Hunts Point on the former site of the Spofford Juvenile Detention Center.

The milestone comes roughly 18 months after work began on Phase 2 in November 2023. This phase will deliver 359 of the project’s planned 740 affordable housing units, spread across Buildings 2A and 2B. The developers, Gilbane Development Company, secured $297 million in financing ahead of the groundbreaking through a combination of funding from the New York City Department of Housing Preservation and Development, the New York City Housing Development Corporation, and Wells Fargo.

Phase 1 of The Peninsula was completed in 2022 and includes 183 affordable apartments, a 14,000-squ

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