Earlier this year, after a decade of delays, Triangle Equities received $16.5 million in state subsidies for their three-acre mixed-use development on Staten Island known as Lighthouse Point. They also partnered with real estate investment fund Lubert Adler LLP to secure another large sum of private financing, before breaking ground last month. With construction underway, Yimby uncovered new renderings that show the residential, retail, and commercial components of the $200 million development. As 6sqft previously reported, “Along with the New York Wheel, Empire Outlets, and New Stapleton Waterfront, Lighthouse Point is a key element of NYCEDC’s ongoing efforts to transform the St. George waterfront into a vibrant community.”
Its first phase will include a 12-story rental tower with 109 units (20 percent of which will be below-market rate) and a 65,000-square-foot retail/commercial base that will include co-working offices for local startups.
Beginning in 1863, the site was home to the U.S. Lighthouse Service Depot, the center of national lighthouse operations during that time. But by 1966, the Coast Guard relocated to Governor’s Island, completely vacating the property by 1984. During the second phase, four historic Greek Revival Coast Guard buildings will be restored to offer 23,000 square feet of retail and office space.
Phase two will also see construction of a 12-story, 180-room hotel that will cater to tourists riding the Staten Island ferry.
Additionally, there will be a 300-car garage built into the existing hillside.
One acre of the waterfront will be landscaped and turned into a public promenade and outdoor event space. According to Cooper Cary, who are the architects of record working in collaboration with Garrison Architects, “The synergy and multiple uses of the different buildings at Lighthouse Point aims to evoke the feelings of an old-world European village and restore the sense of historic grandeur to this notable site.”
The first phase is expected to be complete in 2017, with the entire project wrapping up by 2019.
[Via NY Yimby]
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All renderings via Cooper Carry/Garrison Architects
Neighborhoods : Staten Island