Staten Island’s South Shore to see major projects on city land

New York /
Jun.June 14, 2013 08:30 AM

Plans to develop 65 acres of city-owned land on Staten Island’s South Shore are coming closer to fruition, the Wall Street Journal reported.

The New York City Economic Development Corp.’s proposal to develop commercial and residential properties in the Charleston neighborhood is going through the public approval process known as ULURP, and construction is expected to kick off next year. The plan calls for a retail center, a public library and a public park in the first phase. The second phase would add more retail space, as well as a public school and senior housing.

Guido Passarelli & Sons and Blumenfeld Development Group, two developers experienced with building retail in the area, have joined forces and are in talks with the city to purchase 11 acres for the retail portion of the project for $7.5 million.

“We’re excited about the innovation of financing the public space with private money,” Kyle Kimball, the Economic Development Corp.’s executive director, told the Journal, adding that it was “a novel way of saving the city money.”

Development elsewhere in Staten Island is also on the upswing, with a $1 billion plan to transform the borough’s North Shore underway. [WSJ]  — Hiten Samtani


Related Articles

arrow_forward_ios
Method Man, Pete Davidson, Big Wet and Marc Cohn. (NBC)
Unforgotten: Pete Davidson’s love letter to Staten Island
Unforgotten: Pete Davidson’s love letter to Staten Island
Madison Realty Capital Co-Founders Josh Zegen and Brian Shatz with a rendering of the River North development (Madison Realty Capital, FXCollaborative)
Madison Realty’s altered plans for SI complex approved
Madison Realty’s altered plans for SI complex approved
Radson Development co-founder Jacob Rad and the site of the development (Google Maps, LinkedIn via Rad)
Pair of mixed-use towers to rise at site of Hell’s Kitchen slaughterhouse
Pair of mixed-use towers to rise at site of Hell’s Kitchen slaughterhouse
A rendering of Stapleton project (Rendering via Secchi Smith)
City approves 360-unit affordable housing project on Staten Island
City approves 360-unit affordable housing project on Staten Island
A rendering of River in Staten Island North with Madison Realty Capital co-founders Josh Zegen or Brian Shatz (FXCollaborative, Madison Realty Capital)
Tallest project in Staten Island history OK’d by Planning Commission
Tallest project in Staten Island history OK’d by Planning Commission
I-Sales: Ghost theater trades in Staten Island
I-Sales: Ghost theater trades in Staten Island
I-Sales: Ghost theater trades in Staten Island
National trends of low interest rates and shrinking inventory has led to record median home prices in Staten Island (iStock)
“Forgotten borough” no more: Staten Island homes are pricier than ever
“Forgotten borough” no more: Staten Island homes are pricier than ever
Gotham Organization Chairman Joel Picket with the proposed development at 130 Felix Street. (Getty, 130 Felix)
These projects just beat the rezoning deadline
These projects just beat the rezoning deadline
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...