Governor Kathy Hochul and Mayor Eric Adams announced a 10-year extension of the Roosevelt Island Master Lease to 2078, securing housing stability and financial certainty for over 5,500 residential units and 12,000 residents. Alongside the extension, a joint planning and community engagement process with the Roosevelt Island Operating Corporation (RIOC) will explore new affordable housing, infrastructure upgrades, and public amenities, including potential redevelopment of the former Steam Plant site and the NYC Health + Hospitals/Coler campus. The initiative aims to preserve the island’s unique character while preparing for sustainable growth, with long-term lease updates to reflect community priorities and streamline operations between the State, City, and RIOC.
November 14, 2025
Albany, NY
Sources: Governor.ny.gov , Big New York news BigNY.com
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