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REBNY Watch

Riverside South provides pathway to housing New Yorkers

By Steven Spinola

Construction is nearing completion at Riverside Center, and with it marks the end of the Riverside South mega-project.

Originally conceived over 50 years ago, this exciting plan has transformed a 77-acre former rail yard into a series of condominium buildings between 59th and 72nd street. Once completed, Riverside South will breathe new life into the area.

This new neighborhood will include more than 10,000 new homes, restaurants, retail plazas, additional space for parking, roads, and more.

Over 27 acres are being rezoned specifically for Riverside Park South, and the surrounding area will not only have the familiar look and feel of the Upper West Side, but also an inviting, rejuvenated atmosphere that will undoubtedly appeal not only to UWS natives, but also newcomers and visitors alike.

The Riverside South plan has been a catalyst for new housing developments in the surrounding neighborhood, with a 1,000-unit development at West 63rd Street and a development with over 500 units at 101 West End, built soon after the plan was approved.

As more developments are completed at Riverside Center, new developments are also springing up surrounding area, particularly to the south.

Riverside South extends from 72nd Street to 59th Street. It was originally approved in 1992.
Riverside South extends from 72nd Street to 59th Street. It was originally approved in 1992.

The Helena, owned by the Durst Organization and the first voluntary LEED-certified residential tower in New York City, and TF Cornerstone’s proposed building on the south side of 57th Street are just two examples of developments which extend well beyond Riverside South and will revitalize a long dormant area at the western end of 57th Street.

With a wide range of amenities and an abundance of new housing, Riverside South is sure to attract New Yorkers looking for a location that allows them to enjoy the waterfront while being a short distance from the City’s major attractions, such as Lincoln Center and Carnegie Hall.

The waterfront properties, developed and designed in part by the City Planning and Parks Departments and the Riverside South Planning Corporation, range from small one-bedroom residences to larger accommodations with balconies and terraces.

Boasting expert workmanship and spectacular views of the Hudson River and Riverside Park, the residences in this new complex are sure to draw in New Yorkers from every corner of the five boroughs.

The benefits of this project will not only be aesthetic – it will address New York City’s serious shortage of housing.

The City needs to build more housing for people of every income level, and this problem has become more and more pressing every year. Because of this, we must continue to increase our city’s density along with its affordability, and Riverside South is a good example of how that process should be approached.

Built on existing land, this complex includes buildings such as Extell’s Avery and The Rushmore, which offer a combined 563 one-to-three bedroom residences, complete with fitness centers, gaming rooms, concierge services, parking garages, a screening theater, sundeck, indoor lap pool, and other world-class amenities.

In addition to this, one of the Riverside South Planning Commission’s requirements for the development is that 20 percent of it must be affordable housing.

In a city that will be seeing an additional one million residents in roughly 25 years, we must continue densifying if we are to hope to keep up with our own growth.

Riverside South is an important step in that direction, as well as a clear indication that this goal of increased density does not have to come at the price of New Yorkers’ quality of life.

In other REBNY News:
January 6 is the Midtown West/Penn Plaza Luncheon from 12 p.m. to 2 p.m. at Empire State Realty Trust. To RSVP to this commercial lunch meeting, contact Desiree Jones at DJones@rebny.com.
January 9 from 9:30 a.m. to 10:30 a.m. is our next Residential Rental Clinic Seminar, presented by Daniel Marrello of Town Fifth Avenue LLC and Douglas Wagner of Bond NY Properties LLC. This free event is only open to REBNY members and will take place in the REBNY Mendik EducationCenter. For more information, contact Yesenia Perez at YPerez@rebny.com.
January 15 is REBNY’s 119th Annual Banquet from 7 p.m. to 10 p.m. at the New York Hilton! Join us at one of the most celebrated events of the year as we recognize and honor our industry’s top professionals and bring in another successful year! REBNY advises those wishing to attend to purchase tickets early. For more information, contact MaryAnn Aviles at 212-532-3100 or at MAviles@rebny.com

 

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