Roosevelt Island Is Dead! Long Live Roosevelt Island! 'Yuppies' Have Moved Ashore in Search of FoodAnd:
While the development of fair-market housing has certainly widened the gap between the 10,000 original residents of what was once dubbed "welfare island" and the occupants of the 1,500 new luxury apartments completed in the past two years, the gentrification of Roosevelt Island has been a gradual process. The island’s much hyped transformation began in 1989, when RIOC green-lit the first market-rate rental development, Manhattan Park, and did not accelerate until RIOC approved two luxury residential complexes in the middle of the past decade—the nine-building Riverwalk development and the Octagon, Becker and Becker’s 500-unit rental development at the site of the former New York City Lunatic Asylum in the Northtown area.More on this next year.
Image is from Men Style.
UPDATE 2/10/08 - Roosevelt Island affordable housing at Southtown's Riverwalk buildings?