River’s Edge luxury senior living project set to break ground in Riverdale amid resident concerns

River’s Edge, a luxury senior living home, is set to break ground in the next 90 days, according to president and CEO David Pomeranz. But the construction is raising concerns among area residents.

An extension of RiverSpring Living’s campus, River’s Edge will be the first life plan community in the city. Also known as a continuing care retirement community, it will offer older adults independent living as well as assisted living, memory care, rehabilitation services and specialized nursing as they age.

In a community with a history of opposition to large-scale development, Pomeranz said he has negotiated with neighbors to make the construction process tolerable.

“I don’t think anybody is doing somersaults of excitement to have a project going on in the neighborhood,” Pomeranz said. “[Residents] understand there’s not much they can do to stop it, so the best thing we could do is make it as palatable as we can.”

Still, concerns persist. When planning began for construction last year, RiverSpring organized a board consisting of its executives, Bronx Community Board 8 members, Bronx borough president staff, developers on the project and the Riverdale Construction Advisory Committee.

The construction advisory committee consists of nonprofit Riverdale Nature Preservancy, tenants of the nearby Skyview and Sigma Place apartment buildings, and other local advocacy organizations, according to longtime committee member Sherida Paulson, who is also board chair of the Riverdale Nature Preservancy.

The construction advisory committee formed in 2018 when community opposition to the development was especially strong, and began negotiating terms of construction with RiverSpring, as well as requested they create the current board for River’s Edge.

In a Feb. 9, 2026, board meeting, according to minutes provided by RiverSpring, residents expressed concern about digging and drilling noise from construction.

New York-based Consigli Construction Company is leading the build. Chuck L’Heureux, project executive at Consigli, said his team will do rock chopping, a noisy process that uses saws and diamond blades to shape rock, as part of construction.

L’Heureux said steps will be taken to mitigate the noise. Fences around the site will be covered with sound blankets, and drilling will take place between the hours of 7 a.m. to 5 p.m. Rock chopping will cease by 3 p.m.

Concerns were also raised during  board meetings for River’s Edge about an increase in traffic, as incoming cars and construction vehicles will likely cause congestion exiting and entering RiverSpring.

Of the campus’s two entrances, the one on West 245th Street is already backed up because of an ongoing city sidewalk construction project, leaving only the West 261st Street entrance. RiverSpring said it will continue to work with the construction advisory committee to reduce traffic disruptions.

Another longtime construction advisory committee member, Martin Wolpoff, who is also chair of Bronx Community Board 8’s Law, Rules and Ethics Committee, said since Pomeranz took over as CEO in April 2024, negotiations have been much more productive. Wolpoff also lives near the future River’s Edge construction site.

“I share the [residents’] concerns,” Wolpoff said. “But at the same time, I definitely appreciate the whole concept of a continuous care community.”

On Feb. 27, Chicago-based investment bank Ziegler announced it had closed a $633 million deal to finance River’s Edge in the form of tax-exempt bonds from Vanguard, Barclays, Prudential, Principal and Bank of America. Borrowers often raise money from investors through tax-exempt bonds to finance projects that benefit a community. In return, investors typically do not pay federal income tax on the interest earned on those bonds.

This funding was the go-ahead to start building at 5901 Palisade Ave., and Pomeranz said the facility is expected to be up-and-running within 33 months of construction starting.

The 11-story, 441,000 square-foot structure will have an upscale restaurant and private dining room, indoor saltwater pool, a spa, a fitness center and balconies overlooking the Hudson from the third story to the 11th. There will be 260 units, including one- and two-bedroom layouts, and Pomeranz said 225 of those units have already been reserved.

Residents pay an entry fee, ranging from $717,443 to $3.3 million as well as a monthly fee between $5,975 and $10,175. When the resident dies, 90 percent of their entrance fee is returned to their family.

River’s Edge was designed by architecture firm Perkins Eastman and developed by Chicago-based Integrated Development II, which specializes in luxury housing for seniors.