Roosevelt Island’s future rolls large into view today when a RIOC committee takes on three big agenda items. By coincidence, they get critical attention at the same time, and each may permanently alter the community.
Today’s Meeting in Perspective
At 4:30, the Real Estate Development Advisory Committee holds its regular meeting, but “regular” does not mean normal, this time.
REDAC meetings usually draw little attention. Board members talk about items on which it takes positions for upcoming full board meetings. They’re important but seldom strike sparks, and they’re public as required by law.
What makes today’s different is how it may affect Roosevelt Island’s future on several fronts.
What’s the big deal?
Big deals is more like it. Three agenda items are loaded with possible impact.
- Discussion of Transfer of Roosevelt Landings
- Hudson Related Retail Presentation Regarding Main Street Commercial Spaces
- Discussion of “RI” Sign
Roosevelt Island’s future in the balance today…
Changing ownership at Roosevelt Landings brings a chance for reversing a trend by increasing affordable housing.
Roosevelt Island was built on a foundation of economic diversity. That eroded as privatization chewed up resources.
But new owners, L+M and Invesco, say they want to make Roosevelt Landings 100% affordable again. It’s a big deal, and we should learn more about it today.
Results depend on negotiations with Homes and Community Renewal, the State agency that oversees RIOC.
Hudson Related and Roosevelt Island’s Past and Future
A decade ago, RIOC cut a deal with Hudson Related, handing over Main Street retail management. David Kramer, Hudson’s president, promised Hudson Related would “shock and awe.”
Nobody believes that happened, and Main Street retail is arguably no better today that it was then. That depends on your values.
Now, at a critical juncture, Kramer tells the board what’s up.
Kramer’s a smart, responsible businessman with a salesman’s tendency to over-promote. “Shock and awe” is a good example.
Others include promised openings and claimed lease signings like Onda Mexican and the panini and wine bar.
Failures like Roosevelt Island Urgent Care, Riverwalk Bar & Grill, BubbleCool and Main Street Sweets are never acknowledged.
Expect Kramer to pitch past success and predict more for the future, but will REDAC buy it? New, more critical board members may tip the balance.
It is not known whether he will try to sell the questionable decision to turn an historic church into a speakeasy and outdoor beer hall. Just 25 feet across a fire lane from an unprotected playground.
The critical issue is whether a refreshed board will stand up to Hudson Related or massage local perceptions that the real estate giants own RIOC.
Will the RI Monument sink its feet in Roosevelt Island’s future?
In February, 2018, REDAC agreed to a three month trial for the RI Monument/Sign/Icon.
REDAC decides whether the installation stays or goes.
Some residents like it, but a majority wants it to go. Criticism revolves around its lack of creativity and doubts over whether it attracts tourists.
The nearby Historical Society Kiosk operators complain that it blocks the view, not enhances it.
A decision may come today, but it’s not so much about the sign as it is about who runs Roosevelt Island.
RIOC or Hudson Related?
The meeting takes place at 4:30 today at RIOC’s 680 Main Street Operations Office.
We will report in detail.