Other requests for proposal
There are no other requests for proposal from RiverArch Ventures LLC
Here is a summary of the design features of the RiverArch, and the benefits to the local neighborhoods and the city: • The floor area of approximately 23,000,000 sf will provide 7,630 Studio to 9-bedroom apartments. 30% or 2,300 units would be permanently affordable @ 60% AMI, much better than most new projects. • At least 300,000 sf of new flood-resistant public space - parks, plazas, and a beach would be created. • A new 162,000 sf/900-seat School would be provided "free" to the city on the Brooklyn side, including a mental health clinic. • Adult mental health and wellness services on the Manhattan side. • The building is 62% energy self-sufficient according to an independent analysis by EBI Consulting for a NYSERDA competition the applicants entered in 2021. It would be Platinum LEED certified, taking advantage of unique exposure to solar, wind, geothermal, water turbines, and indoor white/gray-water turbines. • An 85,000 sf Event Space would replace the current Basketball City pier 36 70,000sf Event Space. • Flood mitigation would be provided by the internal sewer systems and rainwells in the basements of each leg, as well as by full DFE compliance. All entrances are at least 17' above Base Flood Elevation. • There would be major job opportunities - 23,000 during construction and 2,000 after (not counting additional neighborhood opportunities) - created by the building and its mixed commercial (928,000sf / 50 locations) - residential-business-school configuration. • The building's twin 6,084sf observation decks are expected to draw 3,000,000 visitors/year, grossing $150m/year alone. Modeled in Sketch-Up, and presented in a 133-page presentation (originally done for a NYSERDA Buildings of Excellence competition), the RiverArch would be the largest building in the world, by floor area, and one of the most profitable, with an EBITDA of $9.1b when all 7,630 units are sold (30% at 50% discount for affordability requirements @ 60% AMI).
Investor type
Investing in own interest and as investment consultant
Website of the investment department
Overall investment size in USD
Less than $5m
Investment interests
Asset class
Real estate
Considered legal/investment requirements
Retrocessions
About SmartMoneyMatch
Pages
Stay connected
Subscribe to our monthly newsletter
