Schoolhouse Project has formed a joint venture with Dynamic Star to bring a charter high school to the developer's new megaproject in University Heights.
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Under the partnership, 160K SF of the 350K SF community facility building, dubbed One Fordham Landing, will be co-developed into educational use, Bisnow can first report.
The joint venture said it is currently in talks with two charter schools seeking to relocate or expand to the project under a 35-year condominium leasehold, a legal structure that shaves off property taxes for nonprofit tenants that sign leases of 30-plus years.
One Fordham Landing is part of Dynamic Star’s greater Fordham Landing South development. As part of Director of Development Brad Zackson’s mission to revitalize the Harlem Riverfront, the larger project also is expected to deliver 505 housing units, 30% of which would be designated as affordable.
Fordham Landing South also includes plans to create a 1-acre public waterfront park along with a new station entrance and pedestrian bridge to the adjacent University Heights station on the Metro North railroad.
Schoolhouse Project, founded by Carlo Schiattarella, has overseen the development of over $400M in school facilities, primarily in New York City.
“We are committed to advancing educational opportunities through innovative facilities,” Schiattarella said in a statement. “This Bronx charter school, in partnership with Dynamic Star, is a key opportunity to expand high-quality educational options for local families.”
Groundbreaking on the project is expected to take place in the first quarter of 2025, and delivery is planned for Q1 2027, according to a Dynamic Star spokesperson. The developer has touted the building's sustainability features, including using geothermal heat pumps for the majority of the building's heating and cooling.
The Bronx has been increasingly eyed by developers, though largely in other areas of the borough, especially the South Bronx. That development has been further assisted by infrastructure investments by the city.
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