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Although Riverside South was opposed by the local community board and the local Councilwoman, Ronnie M. The executive director of the Parks Council, Linda Davidoff, said about yesterday's deal: "The financial wizardry involved is beyond my ken.

Eldridge, it was approved by Borough President Ruth W. But the net result -- that an investor is prepared to build -- is thrilling and a great step forward in building a new and marvelous waterfront on the West Side of Manhattan." There are still many critics of the project.

At least 12 percent of the housing must be set aside for moderate- and low-income residents.

There would be 1.8 million square feet of commercial space at the southern end of the site. Wong also said the sheer size of Riverside South made it unusual.

Wong added that "city officials have already done a lot to reduce the flow, so there is a lot of capacity." Photo: Investors from Hong Kong have joined Donald J. A rendering shows the plan for the Upper West Side.