Related Companies and The Hudson Companies have closed on a $185 million financial package to complete Riverwalk 9, a 28-story residential building at 430 Main Street on Roosevelt Island. Designed by Handel Architects, the tower is the ninth and final component of the Riverwalk mega-development. Wells Fargo provided financing for the housing development.
“The start of work on Riverwalk 9 marks the culmination of a quarter century of work with our partner to build an entirely new and thriving neighborhood on Roosevelt Island,” said David Kramer, CEO of The Hudson Companies. “From our first planning meetings in 1997, we set out to bring these 19 undeveloped acres to life through mixed-income rental, condominium, and institutional housing, dynamic retail, and beautiful new public open space. As we begin construction on the neighborhood’s final building, we’re proud to say we’ve achieved that vision.”
The building will provide 253 market-rate rental apartments, 104 workforce housing units for Memorial Sloan Kettering Cancer Center (MSK) employees, and ground-floor office space for the Roosevelt Island Operating Corporation. Available homes will range from studios up to three-bedroom apartments. Amenities will include a fitness center, a basketball court, a flexible event space, a virtual reality game room, and more to be announced.
Renderings of the building illustrate a simple rectangular volume with a mix of pale and dark tan cladding.
The scope of work also includes upgrades to the grounds surrounding the building. Described as a common space between Riverwalk 8 and Riverwalk 9, pedestrians will have access to a new dog run, grilling areas, grassy lawns, and passive recreation space.
“Riverwalk 9 is the realization of decades of hard work and resiliency through multiple challenges, including economic downturns and a global pandemic, to create new housing opportunities and further support the Roosevelt Island community and New York,” said Frank Monterisi, executive vice president at Related Companies. “We are proud to finally reach this monumental milestone, along with our partners at Hudson, along with Memorial Sloan Kettering, RIOC and Wells Fargo, for the Riverwalk Park neighborhood.”
Once complete, the Riverwalk complex will comprise more than 90,000 square feet of retail spread across 33 stores, more than 2,000 condominium and rental apartments, including hundreds of affordable housing units and institutional workforce apartments for employees of MSK, Weill Cornell Medicine, among other organizations.