SYS-CON MEDIA Authors: Roberto Medrano, Dmitriy Stepanov, Gilad Parann-Nissany, Srinivasan Sundara Rajan, Sean Houghton

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

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
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...