Approximately seven months since ground broke on Riverwalk Park, a 21-story, 100 percent affordable residential building at Roosevelt Island's 460 Main Street, developers Related Companies and Hudson Companies announced that construction has topped out (h/t New York Post). Next to go up are the large windows and brick façade seen in renderings of a design by Handel Architects.
Riverwalk Park was planned as an Enterprise Green Communities Certified building, and many units can enjoy stunning river views. The 340 apartments will comprise 81 studios, 158 one-bedrooms, 51 two-bedrooms, and 50 three-bedrooms. According to plans filed with the city, residential amenities will include a fitness room, a business center, a party room, a laundry room, a mail/package room, a bike room, and storage. Completion is estimated for 2021.
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Entrance rendering via Related Companies
Housing Connect is expected to launch the affordable lottery in 2020. Income and family size criteria are still being ironed out, but rents are expected to range from $505/month for a studio to $3,431/month for a three-bedroom. As market-rate rentals on Roosevelt Island range from a median of $3,247/month for studios to $5,558/month for three-bedrooms (per CityRealty listings), this represents an incredible bargain.
Riverwalk Park represents Related and Hudson’s eighth project on Roosevelt Island, but the neighborhood’s first permanently affordable building. In addition to the affordable housing project, the development team is overseeing the renovation of recreational field Firefighters Field. This will include field relocation, installation of park lighting, and the construction of a new neighborhood comfort station.
Construction progress circa August 2019 via Tim Schenck
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