The affordable housing lottery has launched for The Pearl, a 12-story residential building at 475 Bay Street in Stapleton, Staten Island. Designed by GF55 Architects and developed by BFC Partners, the 250,000-square-foot structure will yield 269 units. Available on NYC Housing Connect are 131 units for residents at 80 percent of the area median income (AMI), ranging in eligible income from $64,732 to $140,080.
Updated renderings have been revealed for 475 Bay Street, a 12-story affordable housing property in Stapleton, Staten Island. Designed by GF55 Partners and developed by BFC Partners, the 250,000-square-foot structure will yield 269 units.
Renderings have been revealed for 475 Bay Street, a new two-phase residential development in Staten Island. Designed by GF55 Partners‘ New York design studio, the project is located in the island’s Stapleton Heights neighborhood just a couple blocks from the Upper Bay waterfront. BFC Partners, the developers of Empire Outlets, is also the entity responsible for 475 Bay Street.
BFC Partners is in contract to purchase the 53,922-square-foot vacant lot at 475 Bay Street, in Stapleton, for $4 million, Commercial Observer reported. That’s on Staten Island’s North Shore. As YIMBY reported in 2014, the developer is planning to build an eight-story, 214-unit mixed-use building at the site. Buildings applications call for a project of 183,000 square feet, where 12,500 square feet would be for ground-floor retail space. The apartments, averaging 750 square feet apiece, would be rentals ranging from studios to three-bedrooms. Many of the them would also rent at below-market rates. An exact figure wasn’t given for how many, but BFC would be required to designate 25 percent of the units to affordable housing. The site is located on the southern end of a potentially rezoned 14-block corridor of Bay Street. In fact, the project relies on the rezoning to move forward. Pending the rezoning, BFC hopes to break ground in 2017. Edelman Sultan Knox Wood Architects is the architect of record. The neighborhood’s Staten Island Railway station is three blocks to the south.
The Stapleton waterfront, on Staten Island’s North Shore, is positively booming with development activity – or, at least, as close to booming as the city’s sparsest borough gets. At the old Homeport site, a 35-acre decommissioned naval…