RiverSpring Living Breaks Ground on NYC’s First Life Plan Community

• RiverSpring Living has officially broken ground on River’s Edge, New York City’s first and only Life Plan Community.
• The luxury senior living development will rise on a 32-acre Hudson River campus in Riverdale.
• The project secured nearly $633 million in financing through the largest senior living tax-exempt bond transaction of its kind.

What River’s Edge Will Bring to New York City

RiverSpring Living has officially started construction on River’s Edge, a major senior living development planned along the Hudson River in the Bronx neighborhood of Riverdale. The project is being positioned as New York City’s first and only Life Plan Community, a residential model that combines independent living with long-term healthcare and wellness services designed to evolve as residents age. Located on RiverSpring Living’s 32-acre waterfront campus just minutes from Manhattan, River’s Edge will cater to adults age 62 and older seeking luxury housing paired with long-term care security. The nonprofit organization behind the project has more than a century of experience serving older adults and is best known for operating the Hebrew Home at Riverdale, a nationally recognized skilled nursing and rehabilitation center. Occupancy for River’s Edge is expected in December 2028.

What Residents Will Get at River’s Edge

The development will feature luxury apartment residences alongside hospitality-style amenities designed to create a resort-inspired lifestyle environment for seniors. RiverSpring Living says the project will focus heavily on wellness, community engagement, and long-term peace of mind through a continuum-of-care model that adapts to changing healthcare needs over time. Residents will have access to independent living, supportive care services, rehabilitation programs, and memory care resources connected to the broader RiverSpring Living campus. The project aims to blend upscale residential living with healthcare integration, a growing trend within the senior housing sector as wealthier aging populations seek lifestyle-focused retirement communities in urban markets.

What the Financing and Development Team Include

River’s Edge recently secured approximately $632.9 million in financing through what was described as the largest senior living tax-exempt bond transaction completed for a project of its kind. The financing was arranged with the involvement of Ziegler and HJ Sims, two firms heavily active in healthcare and senior housing finance. Chicago-based Integrated Development II is serving as the development consultant for the project. Perkins Eastman is leading architectural design, while Consigli Construction is acting as construction manager and general contractor.

What the Project Signals for NYC Senior Housing

The groundbreaking highlights the growing demand for luxury senior living options in New York City as aging populations seek higher-end residential communities offering healthcare access and hospitality-driven amenities. Life Plan Communities have become increasingly popular nationwide, particularly among affluent retirees looking for long-term stability without sacrificing lifestyle or urban connectivity. New York City has historically had a limited inventory of large-scale senior living communities because of land constraints and development costs, making River’s Edge a notable addition to the market. For RiverSpring Living, the project represents a major expansion of its long-standing healthcare and senior services platform while introducing a new category of senior housing to the city.