Mixed-Income Housing in a New Neighborhood on Roosevelt Island

Riverwalk Park is the eighth building completed by Hudson and the Related Companies in the Riverwalk neighborhood. The building’s 341 units are available exclusively to low-income, middle, and moderate income households ranging from 40 to 165% of AMI. The building contains a fitness center, yoga studio, children’s playroom, bike storage, party lounge, game room, library, and a 24-hour attended lobby.

In 1997, the Roosevelt Island Operating Corporation (RIOC) designated Hudson and the Related Companies to create a new neighborhood that would fulfill the island’s General Development Plan designed by Philip Johnson and John Burgee. Today the development provides high-quality housing, open space, and neighborhood-serving retail that is a short subway and tram ride away from Manhattan’s Upper East Side and one-ferry ride from Astoria and Long Island City.  

In conjunction with Citibank, Riverwalk Park was financed through city capital from HPD, HDC, and HCR as well as with Low-Income Housing Tax Credits syndicated by WNC. 

Upon completion, the Riverwalk neighborhood will consist of approximately 2,000 residential units across 9 buildings with 40% of the total units affordable to residents earning less than 148% of AMI.

PROJECT TEAM: HANDEL ARCHITECTS, MONADNOCK CONSTRUCTION, CITI COMMUNITY CAPITAL (Additional Finance Partners Above)