Staten Island’s North Shore To Become A Major Development Precinct

29/04/2013 1:08 pm

 

Almost $1 billion will be spent by private investors to transform Staten Island's North Shore to a thriving urban center, reports the NYT. Some of the developments include:

  • The world's tallest Ferries wheel
  • A Shopping Outlet
  • 200 Room Hotel

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

Ironstate is expected to break ground this June on a major residential complex near the Staten Island Ferry terminal. The first phase of the project will include two buildings with 27,000 square feet of retail space and 571 rental units.

Lighthouse Point is another project in the precinct being developed by Triangle Equities. A $250 million waterfront plaza that will include 53,000 square feet of retail space, a 164 room hotel and 96 housing units.

The city has invested over $200 million in public funds on projects such as the restoration of the ferry terminal and the waterfront.

“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.