People who grew up in the neighborhood are hoping that development will follow the Yankees.
Not those Yankees; the neighborhood is St. George, Staten Island, and local developers are betting on more improvements following the new ferry terminal and the new nearby minor league ballpark, which hosts the Staten Island Yankees.
One of the businesses that’s zeroing in on the North Shore is Casandra Properties, a real estate development consulting firm that is involved in at least seven projects along the waterfront, along with an investment group from Brooklyn.
“We’re talking a total of 700 new units,” says associate broker Jim Prendamano.
On the esplanade is one site tagged by Casandra for development. Tentatively called Bank Street, it is expected to be commercial condominiums.
“We think there are a lot of small businesses on Staten Island that would like to stop renting and own their own spaces and [buy] right on the water,” Prendamano says.
Casandra is also refurbishing an existing building right across from the Pointe, a mixed-use, 60-unit condo building with retail on the first floor that is one of its new developments.
Another new project is the Tower, on the same side of the street as Casandra’s new offices, with 100 condo units as well as retail and office space. Across Bay Street, making use of the existing Fishs Eddy outlet building, will be another 15 to 20 housing units that will be attached to the Pointe, which it abuts.
“We’re thinking of a restaurant on the first floor of the Fishs Eddy development — with a deck overlooking the water,” adds Michael Prendamano, Jim Prendamano’s brother and business partner.
There’s also a third residential building, a coffee warehouse that is being converted, which Casandra expects to complete next month, adding 101 condos to the area, notes Casandra partner John Pitera.
Foundations for the View, with 40 units, slightly further along Richmond Terrace, and for Liberty Towers — two buildings slated for 100 condo units each — are also planned.
“Within four to five years we expect all these developments to be part of the community,” Jim Prendamano says.
The development is coming at a time of restriction, since St. George — the area right by the ferry — was downzoned along with the rest of Staten Island more than a year ago. The ruling specifies that if land is within 100 feet of an 80-foot-wide street, the building on that plot can be 70 feet in height; otherwise, it should be capped at 50 feet in height.
“City Planning inadvertently thwarted some development,” says Allen Capelli, consultant to the Staten Island-based Building Industry Association of New York City. “St. George needs more people and multiple dwellings — co-ops and condos.”
Linda Baran, president and CEO of the Staten Island Chamber of Commerce, sees lots of potential as well.
“The North Shore has been neglected as South Shore development flourished,” she says. “Now this area is up-and-coming and that will mean more business as well.”
Baran argues that auto traffic wouldn’t be a problem: “The thinking is that the height of developments should increase, meaning more people occupying apartments, encouraging foot traffic,” she says. “The infrastructure is here.”
Other developers are betting on the area, too. There are foundations for three 4,500-square-foot brownstones being added to Richmond Terrace, located right next to the ferry.
There’s also a proposed National Lighthouse Museum — Casandra is one of three finalists in the request for proposal stage, proposing 200 units there.
Casandra principals note that calls asking for information about these developments have been running in the thousands without any marketing as yet, which they argue bodes well that there is now demand for development of the North Shore.
“What was needed was critical mass, that’s why it never worked before,” says Jim Prendamano.