NYCEDC, Empire State Development, and Triangle Equities Cut Ribbon on 115-Unit Mixed-Use Housing Complex at Lighthouse Point

Adjacent to the St. George Ferry Terminal with NYC Skyline Views, Brand New State-of-the-Art Amenities and Spacious Units, Nearly 30 Percent Designated as Affordable Housing

Development Advances Momentous Promises Made in Staten Island North Shore Action Plan and Mayor Adams’ Commitment to Build More Affordable Housing

STATEN ISLAND, NY—New York City Economic Development Corporation (NYCEDC), Empire State Development (ESD), and Triangle Equities (Triangle) celebrated a major milestone today with the ribbon-cutting for The Residences at Lighthouse Point, a mixed-income housing complex on Staten Island’s St. George waterfront, and key development in the ongoing progress of the Staten Island North Shore Action Plan. 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 percent and 130 percent of the area median income (AMI), with availability announced on NYC Housing Connect in late 2024. Leasing and move-ins for the market-rate units are currently underway.

Today’s announcement advances Mayor Adams’ “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. Additionally, this 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.”

“Advancing Lighthouse Point marks yet another key milestone in the Staten Island North Shore Action Plan and this Administration's commitment to investing in the North Shore,” said Deputy Mayor for Housing, Economic Development, and Workforce Adolfo Carrion Jr. “Not only will this project bring much needed housing to Staten Island, but also jobs, business opportunities, and amenities to support the growing civic hub.”

“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.”

“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.”

“Today’s Lighthouse Point ribbon cutting isn’t just a milestone, it’s a moment of truth. From the moment I took office, untangling long-stalled projects like this was a top priority. This development sat idle for years, but we stayed focused, pushed through the red tape, and got it done,” said Councilmember Hanks. “Lighthouse Point brings much-needed housing, celebrates our maritime legacy, and reactivates the North Shore waterfront. It marks a tangible step forward in realizing our shared vision for a more vibrant and connected Staten Island.”

“Empire State Development's $16.5 million investment in Lighthouse Point represents exactly the kind of partnership that delivers transformative results for New York communities. We're not just preserving a treasured piece of our maritime history—we're creating quality homes, good jobs, and vibrant commercial spaces that will serve Staten Island residents for decades to come. This project demonstrates how strategic investments can help unlock complex developments that honor the past while building economic opportunity for the future,” said Empire State Development President, CEO and Commissioner Hope Knight.

“For far too long, Staten Island’s waterfront has felt out of reach for the very people who live alongside it. This project reclaims the shoreline for the community—creating new housing opportunities, reconnecting residents to the harbor, and building space for families, workers, and entrepreneurs to thrive. It’s a landmark investment in the future of St. George and the entire North Shore, setting a bold precedent for what truly community-driven development can and should be,” said Assemblyman Charles D. Fall.

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.

Formerly home of the U.S. Lighthouse Service General Depot, Lighthouse Point is a federally registered National Historic Site and was the center of lighthouse operations for the United States during the late 19th and early 20th century. The development team’s work on Lighthouse Point includes the rehabilitation and preservation of four historic buildings, a set of underground vaults, and a historic wall, retaining the site's historic character while repurposing it for modern use.

Located in the St. George neighborhood, the borough’s transportation and cultural hub, the Lighthouse Point development is part of a broader transformation in the area. Earlier this year, construction kicked off on the nearby Tompkinsville Esplanade, which will restore a long-neglected section of the shoreline and bridge a critical gap in public waterfront access. Just steps away from Lighthouse Point Plaza, the redesign of Pier 1 to reestablish public access is also underway. In addition, NYCEDC is working with Triangle, and in coordination with local elected officials, on future Phase 2 of Lighthouse Point that will further deliver on the City’s vision for the North Shore.

“Lighthouse Point demonstrates what's possible when we combine regional vision with strategic planning. By transforming a long-vacant, historically significant site into a thriving hub of housing, commerce, and innovation, this development delivers urgently needed affordable housing while positioning Staten Island's North Shore as an economic powerhouse that will benefit residents and businesses for generations to come,” said NYCREDC Co-Chairs Félix V. Matos Rodríguez, City University of New York Chancellor, and William D. Rahm, CEO of Everview Partners.

“The opening of Lighthouse Point represents an important step forward for Staten Island’s North Shore and the College of Staten Island (CSI),” said Jasmine Cardona, Executive Director of Economic Development and Community Partnerships at the College of Staten Island. “As the CSI Innovation Hub prepares to open in this dynamic new space, we are proud to help drive local innovation, entrepreneurship, and inclusive economic growth. This milestone is made possible through the visionary support of the New York City Council and Empire State Development, whose investment in the CSI Innovation Hub is helping to shape the borough’s economic future.”

“We are excited after a long time coming for the project to come to fruition,” said CB1 Chair Nick Siclari.

The Staten Island North Shore Action Plan, unveiled by Mayor Adams, NYCEDC and Councilmember Hanks in 2023, provides a four-year framework for revitalizing the area. With a total investment of $400 million from the city, the plan aims to deliver 2,400 new homes, more than 20 acres of public space, and over 7,500 family-sustaining jobs, generating an estimated $3.8 billion in economic impact over the next 30 years.

Since announcing the North Shore Action Plan in September 2023, the City and its partners have already advanced several of its initiatives, including:

• In September 2023, the Tompkinsville Esplanade received its ULURP (Uniform Land Use Review Process) approval from the City Council.
• In February 2024, Mayor Adams and NYC Parks broke ground on the Mary Cali Dalton Recreation Center in Tompkinsville, the first groundbreaking for a recreation center on Staten Island in over 14 years.
• In July 2024, Congresswoman Nicole Malliotakis announced $2.5 million in federal funding securedfor NYCEDC to renovate the currently closed Pier 1 on the North Shore, reestablishing public access to the waterfront pier for the local community.
• In September 2024, in celebration of the Action Plan’s one-year anniversary, Mayor Adams and NYCEDC broke ground on 12 acres of interconnected public open space on the New Stapleton Waterfront.
• In December 2024, following a competitive RFP process, NYCEDC and NYC DOT announced that concessions will return to the Staten Island Ferry with Dunkin as the selected concessionaire.
• Also in December, following another competitive RFP process, HPD announced its selected developer team to convert the city-owned sanitation garage on the North Shore into affordable housing with a grocery store, community services, and world-class public open-space.
• In April 2025, Mayor Adams and NYCEDC announce the start of construction on Tompkinsville Esplanade to build two-acres of new public waterfront open space that will fill a critical gap in public waterfront access along the North Shore and restore the long- deteriorated shoreline.
• In May 2025, NYCEDC commenced the design phase on Pier 1 and the St. George Esplanade.
• Also in May, Mayor Adams and NYCEDC announced Artimus and Phoenix Realty Group as the selected developers to build over 500 new mixed-income units along the New Stapleton Waterfront, which will be the largest mass timber residential project in New York City.

About NYCEDC
New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city's future economy. To learn more about what we do, visit us on Facebook, X, LinkedIn, and Instagram.

About Triangle Equities
Triangle Equities is a full-service, real estate development firm that is prepared to tackle and solve the most difficult development challenges. By actively embracing the complexities inherent to responsible urban development, Triangle achieves sustainable results and unlocks substantial value for its investors, tenants and the communities in which it builds.