By: Amanda Farinacci
Updated 06/16/2014 04:28 PM
It’s a three acre site at the foot of the St. George Ferry terminal—and it’s the final piece of the revitalization planned for Staten Island’s North Shore.
After a series of stops and starts, developer Triangle Equities is set to transform this historic but abandoned pier into a residential and retail space with breathtaking views of the water.
“We just saw this as a tremendous opportunity,” says Lester Petracca of Triangle Equities.
The site—to be called Lighthouse Point—is now owned by the Department of Transportation, and will be leased by Triangle Equities for the next 50 years.
Years ago, parts for lighthouses were built in the old Coast Guard buildings here.
Many of those old buildings have since been landmarked, presenting a challenge for developers to work the historic structures into their design.
Plans include a 12-story apartment complex, 80-thousand square feet of retail space, and a 160-room boutique hotel.
“We plan on using one of the buildings as the lobby to the hotel and we foresee artisan-type shops down here on the esplanade; they’ll be restaurants, and a courtyard,” Petracca says.
Developers are in talks with more than one dinner theater, which would offer movie-goers a chance to eat a full meal while watching a movie.
The city will help build a parking lot at the site, and plans are in the works to provide programming for the pier, like outdoor concerts, or a farmers market.
The project will create about 670 construction jobs and some 375 permanent jobs when it’s complete.
Similar to planned waterfront development at the nearby Stapleton Homeport and the New York Wheel and Empire Outlet Mall, Lighthouse Point hopes to attract and keep tourists on Staten Island.
“We’re looking to give them a reason to stay. We believe the wheel is going to do that, the outlet mall’s gonna do that and we believe our site will do it as well,” Petracca says.
The project will be built in three phases, with work on the retail space to begin first.
Developers are hoping that construction will begin this winter.