New York City Economic Development Corporation (NYCEDC), Empire State Development (ESD), and Triangle Equities (Triangle) celebrated the ribbon-cutting for The Residences at Lighthouse Point, a mixed-income housing complex on Staten Island’s St. George waterfront, and a key development in the ongoing progress of the Staten Island North Shore Action Plan.
“We’re proud to play a part in reshaping the borough’s future, building an opportunity from which residents of the region can benefit for generations to come,” said Evan Petracca, Chief Operating Officer at Triangle Equities. “It has been an honor working with NYCEDC and our project partners to bring much needed housing to the area, creating a dynamic district where academics, culture, the arts, and retail can thrive together.”
This ambitious project breathes new life into a historic site once home to the U.S. Lighthouse Service General Depot, transforming it into a vibrant, thriving hub of culture, entertainment, retail, and housing. The first phase of the development features 115 new residential units, 60,000 square feet of commercial space and 274 parking spots. As part of the project’s commitment to affordable housing, 30 units have been reserved for residents earning between 40% and 130% of the area median income (AMI), with availability announced on NYC Housing Connect in late 2024. Leasing and move-ins at the market-rate units are currently underway.
“Opening the doors to the spectacular 115-unit mixed-use housing complex at Lighthouse Point makes it abundantly clear: the future of Staten Island’s North Shore is not just underway, it is already here,” said NYCEDC President & CEO Andrew Kimball. “NYCEDC is thrilled to join our partners at Triangle Equities to officially cut the ribbon on this remarkable development—delivering the centrally-located, vibrant housing and commercial space that Staten Islanders deserve.”
Residents of Lighthouse Point will enjoy a host of premium amenities, including a stunning waterfront terrace, a fully equipped state-of-the-art fitness center, and a stylish rooftop lounge with panoramic views of the New York Harbor. Its dynamic commercial space will be the future home to the College of Staten Island Tech Incubator, the Learning Experience early childhood education center, Club Pilates, along with other soon-to-be-announced uses. The building’s exterior mural, created by Rafael Blanco, is funded by the New York State Downtown Revitalization Initiative and represents the first installation on the North Shore Art Trail.
The move advances the “Staten Island North Shore Action Plan: Building a Vibrant, Mixed-Use Waterfront Community,” which outlines a four-year roadmap for a clear and unified vision for the future of Staten Island’s North Shore, which includes $400 million of city investment, 2,400 homes, over 20 acres of public space, more than 7,500 family-sustaining jobs, and $3.8 billion in economic impact over 30 years.
The project was made possible through a strategic partnership that included $16.5 million in state support from the New York State Empire State Development, which helped close a critical financing gap for the complex development that required extensive historic preservation work and site remediation, advancing the shared goal to revitalize formerly distressed waterfront areas through targeted investment and planning.
“New York is a five-borough city, and we are a five-borough administration. We have put Staten Island front and center from day one of our administration—creating our Staten Island North Shore Action Plan to bring thousands of homes and jobs to the borough, building a vibrant new public esplanade, and breaking ground on a long-overdue recreation center,” said New York City Mayor Eric Adams. “With today’s opening, we are continuing to ‘Get Stuff Done’ for the North Shore and giving Staten Islanders the housing, commercial space and parking space they deserve.”
Credit: Travis Mark/Triangle Equities
