Riverwalk 9 Is a Done Deal as Financing is Now in Place

Riverwalk 9 Is a Done Deal as Financing is Now in Place

When David Kramer signed on in 1997, he never thought 25 years would pass before breaking ground on Riverwalk 9. Economic and political turmoil disrupted progress, but he and his partners never gave up. And yesterday, his Hudson Companies and partner Related Companies said that financing was at last in place for the final building in Roosevelt Island’s Southtown.

by David Stone

The Roosevelt Island Daily News

“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,” Hudson CEO Kramer said in a press release.

Riverwalk 9 will sit directly across from 425 Main Street with dazzling views in four directions. A commons area will extend the existing one across East Main Street. Plans for use of the space are in progress, but Kramer told The Daily that no commercial presence is planned. $111 million in funding comes from Wells Fargo.

“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.”

“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,” added Frank Monterisi, Executive Vice President at Related Companies.

Riverwalk 9, the Details

“Located at 430 Main Street, Riverwalk 9 is the fourth development designed with housing for MSK employees as part of the overall Riverwalk neighborhood,” the announcement said.

The new 28-story building includes 104 homes for the Memorial Sloan Kettering Community. MSK will have eight floors of studios, two- and three-bedroom homes.

253 market-rate studios, one- and two-bedroom residences complete the picture along with the new home for RIOC on the first floor.

“A commons between Building 9 and 460 Main Street adds new park lighting, a dog run, grill space and acres of public open space.

“Amenities will include a fitness center overlooking the East River, a basketball court, a party room, a multi-sport virtual reality game room and much more.”

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