Hudson Related Retail LLC, a joint venture between real estate development firms The Hudson Companies and Related Companies, today announced new retail leases, architectural and streetscape improvements, and lease renewals that will revitalize the Main Street retail corridor and bring new amenities to Roosevelt Island. Retail demand has outpaced supply in recent years as the Island has experienced population growth in newly constructed residential buildings and with anticipation of the new Cornell campus.
Retail leasing activity includes new tenants and renewals, including Island Spirits, a new wine and liquor store; Wholesome Direct, a gourmet and organic natural food market; Europan Bakery Cafe and Subway Sandwich.
The Child School is opening a 7,000 square foot fine arts center at the upper floor of 504 Main St, which will be complementary space to the School’s other existing facilities on Roosevelt Island and will include art, music, drama and dance studios.
Trellis Diner and Gallery RIVAA, two longstanding tenants, are expected to renew their leases.
Additional transactions are also in the works for the next retail phase of leasing.
Hudson Related and the New York Public Library have been pursuing capital funding necessary to create a new, state-of-the-art library branch on the ground floor of 504 Main Street.
Hudson Related hopes to attract a pet store operator to the island as well as a frozen yogurt store.
Hudson Related has received commitments from Gristedes to commence architectural and in-store improvements to the Roosevelt Island store, which are expected to be completed by October, 2012.