Fairfield, CT, March 4, 2026 – HJ Sims is pleased to announce the successful completion of a $632.9 million tax-exempt bond financing for RiverSpring Health Living, Inc. Proceeds of the issue will be used to develop River’s Edge, a new life plan community with approximately 260 independent living apartments located on RiverSpring Living’s 32-acre campus in the Riverdale section of the Bronx, New York with dramatic views overlooking the Hudson River, New Jersey’s Palisades and the Manhattan skyline.
The one- and two-bedroom apartments will range in size from approximately 750 to 1,400 square feet in an 11-story, 441,000 square foot building. Common spaces will include a variety of dining options, theater, library, beauty salon and day spa. A wellness center and health spa will contain an indoor pool, fitness center and locker rooms. The campus has room for a possible future second apartment building as well.
The bonds, issued by BuildNYC Resource Corporation, represent the largest tax-exempt financing for a new life plan community and the first such community to be developed in New York City. HJ Sims was the co-manager along with Ziegler.
The highly experienced development team for River’s Edge includes Integrated Development II, the architects Perkins Eastman and Consigli Construction.
HJ Sims has been privileged to work with RiverSpring Living for over 10-years on this and other financings. “Sims delivered outstanding results on the River’s Edge bond sale,” said David V. Pomeranz, President & CEO of RiverSpring Living. “Their deep understanding of the market, thoughtful structuring, and strategic insights ensured a smooth transaction and strong investor response.”
About HJ Sims
Founded in 1935, HJ Sims is a privately held investment bank and wealth management firm focused on delivering a broad spectrum of financial services to its clients. Sims is one of the nation’s oldest and most respected underwriters of tax-exempt bonds, with specific expertise in the senior living and education sectors. Since underwriting the first senior living tax-exempt bond in 1965, Sims has provided over $35 billion in financing for senior living providers nationwide. For more information, please visit: hjsims.com.
About RiverSpring Living
RiverSpring Living has been dedicated to serving seniors for over 100 years, providing nursing care, rehabilitation, memory care, assisted and independent living on its Riverdale campus and beyond. For more information on RiverSpring Living, please visit riverspringliving.org. To learn more about River’s Edge, please visit riversedge.org.