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Bronx Juvenile Center’s Affordable Housing Replacement Gets New Renders

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The Peninsula

Renderings have appeared for the major affordable housing and mixed-use development that will transform the site of Hunts Point’s now-shuttered Spofford Juvenile Detention Center.

NYCEDC announced in October that it had chosen Gilbane Development Company, the Hudson Companies, and Mutual Housing Association of New York’s proposal for the site, called The Peninsula.

Under their plan, and with the design services of WXY architecture + urban design and Body Lawson Associates, the five-acre site will give way to 740 units of affordable housing, 52,000 square feet of open and recreational space, 49,000 square feet of light industrial space, 48,000 square for community facilities, and 21,000 square feet of retail space.

WXY notes that many of the anticipated retail, commercial, and industrial tenants are Bronx-based and include Hunts Point Brewing Company, Il Forno Bakery, and Lightbox NY film studio. The development will also bring in a supermarket, job training facilities, space for a school, and a community health center.

The community is looking forward to putting Spofford behind it. “In many ways, it was not just a symbol of how juvenile justice from a policy point of view was performed throughout the decades, but also the historic, negative stigma and perception of the area that was embodied in that building", Maria Torres-Springer, former president of the NYCEDC, told the Journal when the winning bid was announced in October. James Patchett has since picked up the torch as president and CEO of the organization.

The whole project will be comprised of five different buildings, built out throughout three phases. The $300 million development is expected to wrap by 2024.

 

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Peter Treadway, PhD

is an independent consultant and money manager and Adjunct Professor in Asia. He is currently is principal of Historical Analytics, LLC. Historical Analytics is a consulting/investment management firm dedicated to global portfolio management. Its investment approach is based on Dr. Treadway’s combined top-down and bottom-up Wall Street experience as economist, strategist and securities analyst. A monthly letter entitled The Dismal Optimist is produced for clients. Dr. Treadway also serves in a part time capacity as Chief Economist, C T RISKS, a new Hong Kong company that will assist Asian financial institutions with their risk management problems. On the educational front, Dr. Treadway has developed a special Masters level course focusing on securities analysis and discounted cash flow and incorporating elements of standard equilibrium pricing models, behavioral finance and historical trends. This course has been given as Adjunct Professor at the Shanghai University of Finance and Economics (SUFE) and the City University of Hong Kong. From 1965-2000 Dr. Treadway had a distinguished career on Wall Street and with major American financial institutions. For example, from 1978-1981 he served as Chief Economist at Fannie Mae. From 1985-1998 he served as institutional equity analyst and Managing Director at Smith Barney following savings and loans and government sponsored entities(GSEs). He was ranked as “all star” analyst eleven times by Institutional Investor Magazine. Dr. Treadway holds a PhD in economics from the University of North Carolina at Chapel Hill, an MBA from New York University and a BA in English from Fordham University in Bronx, New York.