City and State Announce Roosevelt Island Lease Extension, Long-Term Planning Initiative
A new framework jointly announced by New York City Mayor Eric Adams and New York Governor Kathy Hochul will extend the Roosevelt Island master lease and initiate a planning effort to shape the island’s long-term future. Subject to approval by the Roosevelt Island Operating Corporation (RIOC), the lease, which was originally set to expire in 2068, will be extended by ten years to 2078. The extension aims to provide financial stability for Roosevelt Island’s 12,000 residents and over 100 businesses. The city and state will also collaborate with RIOC on a community planning and engagement process focused on housing, infrastructure, and public amenities.





