The Real Deal New York

Triangle Equities plans Staten Island megaproject

January 06, 2014 11:35AM

Triangle Equities is building a mixed-use megaproject that includes a 180-room hotel and 96-unit rental tower – the latest development headed to Staten Island’s North Shore.

Lighthouse Point is slated for a vacant three-acre pier that formerly served as a home to a Coast Guard base and a lighthouse. The hotel will feature a restaurant, underground parking and a public esplanade surrounding it.

The project’s first phase, which includes a three-story retail base at The Rental Tower Near Bay Street, is expected to take a year and a half.

Well over a year after Hurricane Sandy, many businesses on the North Shore of Staten Island are still struggling, and others in the hard-hit area have closed, according to published reports.

In late October, the City Council approved the $580 million Empire Outlets mall project — including 80 stores and a 200-room hotel among a million square feet of mixed-used space – and the 625-foot New York Wheel. Both are on the St. George’s waterfront, also in the North Shore area. [Curbed]Mark Maurer