Regus leases 32K sf at Triangle Equities’ Lighthouse Point

Co-working provider will anchor the first phase of the Staten Island project

New York /
Feb.February 22, 2016 09:31 AM

Regus, one of the main shared-office space providers, will anchor Triangle Equities’ Lighthouse Point  on Staten Island. The Luxembourg-based co-working firm will take about half of the 65,000-square-foot office and retail building on the St. George’s waterfront.

The city’s Economic Development Corporation tapped Triangle to develop the three-acre property in 2006, but the project has faced a series of delays.

The development will include a 12-story, 120-unit residential building, more than 60,000 square feet of retail space and a 175-room hotel. At least 20 of the residential units will be affordable.

Work began late last year on the first phase of the project, which is slated for completion in 2017. City officials hope the project, along with along with the New York Wheel and Empire Outlets, will revitalize the waterfront.

The project has both public and private money invested into it — $30 million in construction loans and equity credit from Goldman Sachs Urban Investment Group, and $29 million in construction loans from Citizens Bank, the Journal reported.

The state has proposed $16.5 million in subsidies for the project, but delayed a decision to approve that funding in December.

Regus recently leased a 23,000 square-foot-space at 112 West 20th Street in Chelsea. [WSJ]Dusica Sue Malesevic


Related Articles

arrow_forward_ios
2385 Richmond Avenue in Staten Island (Google Maps)
Bob’s Discount Furniture to open on Staten Island
Bob’s Discount Furniture to open on Staten Island
From left: Knotel’s Amol Sarva; Breather’s Bryan Murphy; WeWork’s Sandeep Mathrani and IWG’s Mark Dixon
Seismic shifts in the flex-office market
Seismic shifts in the flex-office market
Dov Hertz and an aerial of 1900 South Avenue in Staten Island (Photos via Adam Pincus; Google Maps)
Dov Hertz picks up Staten Island site for $65M
Dov Hertz picks up Staten Island site for $65M
Richmond County Bank Ballpark (Photo via Google Maps)
Staten Island waterfront redevelopment hits a wall
Staten Island waterfront redevelopment hits a wall
A rendering of the Staten Island Wheel (Rendering via Perkins Eastman)
Developer of the failed New York Wheel sues its contractor … again
Developer of the failed New York Wheel sues its contractor … again
Gov. Andrew Cuomo and City Council member Mark Levine (Getty; City Council)
Parts of Manhattan, Staten Island enter lockdowns, but is it enough?
Parts of Manhattan, Staten Island enter lockdowns, but is it enough?
New York Wheel (S9 Architecture|Perkins Eastman; Pixabay)
Going in circles: Dueling New York Wheel lawsuits emerge
Going in circles: Dueling New York Wheel lawsuits emerge
(iStock)
Petition to overturn indoor dining restrictions squashed by judge
Petition to overturn indoor dining restrictions squashed by judge
arrow_forward_ios

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

Loading...