Triangle Equities last week hosted a groundbreaking ceremony for the first phase of Lighthouse Point, the developer’s $200 million, mixed-use project on the St. George waterfront in Staten Island.
Along with three other new core developments underway, the occasion marked the continued progress of a transformative period for the North Shore of Staten Island.
In addition to the more than $1 billion investment into the transformation of the St. George waterfront, Lighthouse Point will contribute to the realized vision of Destination St. George, which will attract millions of people to live, work, and visit.
Construction of the first phase of the project is slated for completion in December 2017.
Earlier this year, Triangle Equities announced Regus, a shared workspace provider, as its anchor tenant. The company will occupy approximately 30,000 s/f of the nearly 65,000 s/f space dedicated to retail and office.
In addition, Triangle Equities plans to bring a mix of unique retail shops and restaurants, as well as outdoor eating and entertainment space.
Phase I also includes the development of a 12-story residential tower with approximately 116 rental units. Additionally, over an acre of waterfront public open space will be programmed for outdoor concerts, art exhibits and food festivals and an approximately 300-space parking garage will be added to the development.
Following Phase I, the developer will rehabilitate and repurpose the four historic structures, the historic wall, and multiple underground vaults currently situated on the site.
The complex is listed on the National Register of Historic Places and Triangle and its team plan to restore the property’s sense of history, while also incorporating the historic structures for modern uses. This will allow for more than 23,000 s/f of restaurant, office and hospitality space, including a new 145,000 s/f 175-room hotel tower featuring approximately 15,000 s/f of event space.