Douglaston Development and the Entertainment Community Fund have successfully obtained construction financing for Rialto West, a 158-unit affordable housing development located in Hell’s Kitchen. This $125 million project will include 5,500 square feet of cultural space and a public plaza named after renowned playwright Lorraine Hansberry. Funding for this project is being provided by HDC and HPD with over $106 million allocated towards its completion. Construction is set to commence this month with an expected completion date of 2026.
Rialto West will offer studios, one-, two-, and three-bedroom units designed specifically for low- to middle-income households, including designated units for formerly homeless individuals. The building will also feature amenities such as a fitness center, laundry room, and bicycle storage.
IndieSpace has been selected to lease and operate rehearsal spaces as well as co-working spaces tailored towards artists’ needs within the development. This project fulfills a commitment made fifteen years ago in the Western Railyards Rezoning Points of Agreement.
According to HDC president Eric Enderlin: “Once completed, Rialto West will provide over 150 brand new affordable homes in one of New York City’s most expensive areas.”
