Mini-megaproject to get an ‘upper-upscale’ hotel @trianglequities @Westin

screen_20shot_202016-09-12_20at_2010-00-53_20am-0via Curbed – Staten Island’s mini-megaproject Lighthouse Point just got another major addition. Developer Triangle Equities is partnering with Starwood Hotels & Resorts to bring a 175-room Westin Hotel to the North Shore. The hotel will be built as part of Phase 2 of the overall Lighthouse Point project, which is being built in St. George at a cost of $231 million.

Construction on the first phase is already underway and will see the creation of 65,000 square feet of office and retail, as well as a 12-story rental building with 115 apartments. Twenty percent of the apartments will be permanently affordable. As part of that project, over one acre of the waterfront will become publicly accessible, and will be used for concerts, food festivals, and art exhibits. There will also be a 300-space car parking garage.

The new hotel, the Westin New York Staten Island, will come in the second phase, and is expected to be complete by mid-2019. The second phase will also see the rehabilitation of four historic buildings and underground vaults at the site, and one of these will be incorporated as an amenity space for the hotel once restoration work is complete. This restoration will allow for about 30,000 square feet of retail, restaurant, and office space.

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Staten Island’s Mixed-Use Project Makes Big Strides

Amy Plitt at Curbed.com shares this latest development:

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Rendering of the office/retail space at Lighthouse Point on Staten Island via Triangle Equities

The redevelopment of Staten Island’s St. George neighborhood is chugging right along, and earlier this week, one of the huge projects set for the waterfront—Lighthouse Point—got its proper groundbreaking (though construction began late last year).

Developer Triangle Equities also announced some updates to the site, including the anchor tenant for its 65,000-square-foot retail and office component. That space will go to Regus, a co-working space that already has several offices throughout Manhattan, Brooklyn, and Queens. The stakeholders in Lighthouse Point (which include the NYCEDC and Goldman Sachs’s Urban Investment Group) are positioning this as a boon to the neighborhood, that could “attract out-of-town users who may need short term meeting or office space, therefore positively affecting the interest and patronage of surrounding hotels, retailers, and restaurants” (per a press release). We’ll see about that.

 That office space will join the incoming 12-story, 116-unit apartment building that’s also part of the Lighthouse Point development. When the whole thing is done, it’ll be one of several mini-megaprojects that developers are hoping will transform Staten Island’s North Shore, including the New York Wheel and Empire Stores.
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Staten Island’s North Shore poised for major new developments

via The Real Deal

A rendering of the ferris wheel in Staten Island

Private investors will spend nearly $1 billion over the next decade into transforming Staten Island’s North Shore from a sleepy outpost into a bustling urban center, the New York Times reported. Among the projects in the pipeline are the world’s tallest Ferris wheel, an outlet mall and a 200-room hotel. A major residential complex by Ironstate Development is set to break ground in June in the Stapleton neighborhood near the Staten Island Ferry terminal.

The Ironstate project’s first $140 million phase will include two buildings with 27,000 square feet of retail space and 571 rental units. Rents will range from $1,200 for a studio to $2,600 for a two-bedroom apartment.

“Staten Island is losing a lot of young people because there are no options to attract them,” David Barry, president of Ironstate, told the Times. “You can’t have old housing stock and expect to attract your best and brightest.”

Another project close to the terminal is Lighthouse Point, a $250 million waterfront plaza being built by Triangle Equities that will include 53,000 square feet of retail space as well as a 164-room hotel and 96 housing units.

“We really believe that this is a transformational moment for the North Shore of Staten Island,” Seth Pinsky, president of the city’s Economic Development Corporation, told the Times. “Staten Island is entering into a golden age.”

The city has already invested over $200 million in public funds on projects such as the restoration of the ferry terminal and the waterfront. [NYT]  –Hiten Samtani