BIT Holds Appreciation Luncheon in New York
BIT Honors Workers' Commitment to
Excellence at Riverside Center
New York, NY – More than 350 workers, business managers, and members of the New York State labor movement recently gathered in New York City to celebrate the workers at Riverside Center, who are building a $450 million, 40-story development project financed in part by the AFL-CIO Building Investment Trust (BIT). The project is expected to create approximately more than 2,000 jobs.
“I am proud to support the AFL-CIO Building Investment Trust’s Riverside project because the project creates jobs for today and tomorrow," said Gary LaBarbera, President of the Building and Construction Trades Council of Greater New York City. "At the same time, the project is adding a beautiful addition to the Hudson River skyline that will be built to the highest standards by skilled union workers.”*
The project will feature 616 apartment rental units, more than 20 percent of which is intended to be reserved as affordable housing; market leading amenities; retail space; and a New York City public school on the first five floors.
“I commend the AFL-CIO Building Investment Trust for its continued investment here in New York City," said Vincent Alvarez, President of the New York City Central Labor Council. "The Riverside project is driven by skilled workers, which means high quality construction and more jobs for the city. And this isn’t just short-term; even after the building is completed, union members will continue to have jobs here.”*
“Riverside Center will be an innovative and environmentally-friendly place to live and work for hundreds of New Yorkers. The project will be of high quality and built by union workers from the ground up," said Mario Cilento, President of the New York State AFL-CIO. "With this project, the AFL-CIO Building Investment Trust is creating thousands of jobs and helping build a better future for New Yorkers. This is the type of smart development that we can all be proud of.”*
Other features of this project include unique access to green space, including a 27-acre waterfront public park, soccer and baseball fields, and highly sought-after proximity to Central Park.
The project will also be LEED Silver Certified, have beautiful river views from the upper floors, and contain higher-end finishes and a complete amenity package consistent with the expectations of the neighborhood.
Across the country, the BIT is investing more than $1.1 billion in active development projects with thousands of workers on-site in cities ranging from New York City to Chicago, St. Louis to San Jose, and Washington D.C. to Portland.
“The success of the AFL-CIO Building Investment Trust is something that the entire labor movement can be proud of,”* said James Cahill, President of the New York State B.C.T.C.