The Plan: Sunrise at the Residences at Lighthouse Point After a Decade of Darkness

Residents of New York City’s “forgotten borough” are starting to get a taste of luxury apartment living.

After more than a decade of delays, the Residences at Lighthouse Point — part of a larger, two-phase, mixed-use development on the St. George waterfront of Staten Island — is finally nearing completion.

Construction of the Residences at Lighthouse Point, at 5 Bay Street, began in 2016, a year behind schedule according to the New York Post. The project by Triangle Equities faced a number of issues between then and now, including a partial stop-work order, previous contractor Hollister Construction Services filing for Chapter 11, and the COVID-19 pandemic.

“We broke ground in 2016 with a construction manager who ultimately filed for bankruptcy in 2019,” Evan Petracca COO for Triangle Equities, said. “Unfortunately, the project was beset with a number of delays, but at that point we still anticipated delivery in mid-2020.”

That timeline was not to be thanks to lawsuits and having to bring in a new construction manager. Eventually, the dust settled and construction resumed in late 2022, Petracca said. Now the issues that once plagued the $250 million, 12-story apartment complex seem to be a thing of the past. 

The complex is within walking distance of Staten Island’s National Lighthouse Museum, which is in a former lighthouse depot that dates back to 1862, and it takes the name Lighthouse Point thanks to the island’s long history as a place for sailors and marine captains.

The Residences at Lighthouse Point will consist of 115 apartments, 75 percent of which will be at market rate and 25 percent designated as affordable for people earning between 40 percent and 130 percent of the area median income. Units from studios to two-bedrooms are available, with rents between $2,000 and $4,000 per month.

There is also 60,000 square feet of commercial space that includes an early childhood education center, a satellite campus for the College of Staten Island’s augmented and virtual reality labs, and a fitness studio called Club Pilates, which will be taking 2,700 square feet.

Apartments within the Residences at Lighthouse Point will feature large windows, stainless steel appliances and hardwood floors. Petracca said every unit will have a view of the water, including “stunning and commanding views of New York Harbor from the Statue of Liberty in the Jersey City waterfront all the way to the Verrazano Bridge.”

Leasing is expected to begin “in the next several weeks,” Petaracca said. Move-ins could begin as early as the beginning of February.

“We’re extremely excited to deliver the first phase,” he said. “Our second phase includes the rehabilitation and restoration of several historic structures that were once part of the United States Lighthouse Service, which was a predecessor to the United States Coast Guard. This area of the North Shore of the Staten Island waterfront has long sat vacant, and has a tremendous amount of history and prominence.”

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.