New York-based developer Triangle Equities has announced additional details of its $200-million mixed-use project, Lighthouse Point, in the St. George district of Staten Island. Triangle anticipates beginning construction this coming fall.
"We believe Lighthouse Point will contribute greatly to the renewal and rediscovery of Staten Island," said the president of Triangle Equities, Lester Petracca. "This is an exceptional project and we are excited to begin construction."
The project will reportedly include a 160-plus room upscale, branded hotel.
Groundbreaking on the project will be roughly parallel to the start of nearby construction of the Western Hemisphere's largest Ferris wheel -- the New York Wheel -- and Empire Outlets, New York City's first outlet center.
In 2006, the NYCEDC selected Triangle Equities to develop the Lighthouse Point project through a competitive RFP process. Along with the New York Wheel, Empire Outlets, and the New Stapleton Waterfront, Lighthouse Point is a key element of NYCEDC's ongoing effort to transform the St. George waterfront into a dynamic civic hub that will drive economic growth, create thousands of jobs, support existing waterfront amenities, and provide new waterfront uses to the benefit of visitors and residents alike.