City officials will break ground today on a $150 million project to redevelop a former naval base in Staten Island, Crain’s reported. New Jersey-based Ironstate Development will build the mixed-use project, which will consist of 900 market-rate apartments, 30,000 square feet of ground-floor retail space and 600 parking spaces.
The city will also chip in with $32 million in funds for infrastructure developments and a waterfront esplanade. The project, which will rejuvenate a parcel of the Homeport base in the Stapleton section, has been in the works for the past four years, though redevelopment was first proposed two decades ago.
“This is the start of something very big,” Staten Island Borough President James Molinaro told Crain’s. “The development has all the credentials for someplace that you’d want to live.”
Homeport is the first of several developments slated for Staten Island’s North Shore, which is slated to build a 62-story Ferris wheel and New York City’s first outlet mall. The borough’s South Shore has also seen a slew of recent projects. [Crain’s] – Hiten Samtani