Tishman Speyer Sets January Start for Affordable Project in Kingsbridge

Tishman Speyer’s TS Communities, the firm’s affordable housing development platform, said Friday it has secured financing and will begin construction in January on an eight-story, 100% affordable apartment building at 160 Van Cortlandt Park S. in the Kingsbridge neighborhood of the Bronx. TS Communities has closed on approximately $222 million of financing in the form of tax-exempt bonds, subsidy loans and low-income housing tax credits. Construction is expected to be completed in 2027.  

The 339-unit 160 Van Cortlandt Park South will rise on a portion of a full-city block that formerly housed the Visitation Church and School. Tishman Speyer acquired a portion of the site, vacant since the parish merged with nearby St. John’s in 2015, from the Archdiocese of New York in 2022. The remainder was purchased by the New York City School Construction Authority, which is building 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,” said Tishman Speyer senior managing director Michelle Adams. “Together, we are delivering a truly remarkable project that will create much-needed homes for hundreds of families.”