Welcome!

News Feed Item

Triangle Equities Closes on Land for Transformative Staten Island Lighthouse Point Development, Announces Additional Project Details

Construction of $200 Million Mixed-Use Unique Waterfront Destination Begin This Fall

STATEN ISLAND, NY -- (Marketwired) -- 05/16/14 -- New York-based developer Triangle Equities ("Triangle") today announced additional details of its $200 million mixed-use project, Lighthouse Point, following the recent announcement by Triangle and the New York City Economic Development Corporation ("NYCEDC") that the lease of the three-acre development site in the St. George district of Staten Island had been executed. Triangle anticipates beginning construction this coming fall.

Lighthouse Point, which will bring together an unprecedented array of services and amenities on Staten Island, is expected to play a primary role in the rejuvenation of the Staten Island waterfront. It will serve as both a gateway to the borough, enjoying immediate proximity to the Ferry Terminal, and as an ultimate full-service destination for tourists, residents and businesses.

"We believe Lighthouse Point will contribute greatly to the renewal and rediscovery of Staten Island," said the President of Triangle Equities, Lester Petracca. "This is an exceptional project and we are excited to begin construction."

Groundbreaking on the project will be roughly parallel to the start of nearby construction of the Western Hemisphere's largest Ferris wheel -- the New York Wheel -- and Empire Outlets, New York City's first outlet center. While they all bring a new and unique aspect to the area, the three developments will complement one another in revitalizing the Staten Island waterfront.

Lighthouse Point is distinct in that it will be the only new area project to include residential units, 20% of which will be perpetually affordable, and an on-site hotel that will feature luxury amenities with an attached merchant market. Both components will offer residents and guests unparalleled waterfront views.

Additionally, Lighthouse Point will create a charming old-world merchant village atmosphere, with curated specialty shops and restaurants and substantial open space that will host outdoor exhibits, musical performances, and additional seasonal entertainment and activities adding to an existing esplanade. The village concept has been designed to stay true to Staten Island's history, and each of the project's aspects will be elegant and customized, developed in a way that will create an unrivaled holistic, integrated and beautiful experience.

In 2006, the NYCEDC selected Triangle Equities to develop the Lighthouse Point project through a competitive RFP process. Along with the New York Wheel, Empire Outlets, and the New Stapleton Waterfront, Lighthouse Point is a key element of NYCEDC's ongoing effort to transform the St. George waterfront into a dynamic civic hub that will drive economic growth, create thousands of jobs, support existing waterfront amenities, and provide new waterfront uses to the benefit of visitors and residents alike.

Lighthouse Point will ultimately bring together:

  • 85,000 square feet of retail, restaurant and entertainment space;
  • A 12 story, 94,000-square-foot residential tower that will house approx. 100 units;
  • A 160+ room upscale and flagged hotel;
  • Communal-style workspace for startup businesses and accelerators;
  • Open, outdoor lounge areas;
  • A variety of fine dining experiences;
  • Private dining rooms within the historic, hillside vaults;
  • A merchant house and village, featuring specialty attractions such as greenmarkets, bike shops, and wine and cheese shops;
  • An amphitheater space for exhibitions and a banquet hall;
  • An urban beach;
  • Breathtaking views of the harbor, preserved at every portion of the development;
  • The restoration of several historic buildings currently located on the site;
  • Steps from the ferry terminal; and
  • A series of outdoor living areas meandering through the site, all with unmatched views of the harbor, lower Manhattan and the NY wheel, connecting the community to the waterfront.

Construction will include the rehabilitation and repurposing of the four historic structures, the historic wall, and multiple underground vaults currently situated on the site. The complex is listed on the State and 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.

Lighthouse Point is expected to create approximately 226 permanent jobs and over 400 construction jobs; construction is anticipated to commence this fall, with project completion slated for late 2019.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2595894

Media Contact:
John Marino / Megan Romano
The Marino Organization
[email protected] / [email protected]
212.889.0808

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Enterprises are universally struggling to understand where the new tools and methodologies of DevOps fit into their organizations, and are universally making the same mistakes. These mistakes are not unavoidable, and in fact, avoiding them gifts an organization with sustained competitive advantage, just like it did for Japanese Manufacturing Post WWII.
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes how...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
As Enterprise business moves from Monoliths to Microservices, adoption and successful implementations of Microservices become more evident. The goal of Microservices is to improve software delivery speed and increase system safety as scale increases. Documenting hurdles and problems for the use of Microservices will help consultants, architects and specialists to avoid repeating the same mistakes and learn how and when to use (or not use) Microservices at the enterprise level. The circumstance w...
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Cell networks have the advantage of long-range communications, reaching an estimated 90% of the world. But cell networks such as 2G, 3G and LTE consume lots of power and were designed for connecting people. They are not optimized for low- or battery-powered devices or for IoT applications with infrequently transmitted data. Cell IoT modules that support narrow-band IoT and 4G cell networks will enable cell connectivity, device management, and app enablement for low-power wide-area network IoT. B...
Transformation Abstract Encryption and privacy in the cloud is a daunting yet essential task for both security practitioners and application developers, especially as applications continue moving to the cloud at an exponential rate. What are some best practices and processes for enterprises to follow that balance both security and ease of use requirements? What technologies are available to empower enterprises with code, data and key protection from cloud providers, system administrators, inside...