Fresh Food Market Coming to Lighthouse Point in St. George
STATEN ISLAND, N.Y. — Triangle Equities, the developer of Lighthouse Point –– a $250 million, 115-unit luxury apartment complex to be equipped with retail, office space and a Westin Hotel in St. George — has signed a lease to open a fresh food market in the fall.
Lighthouse Point Market will offer healthy, affordable options — including prepared foods, fresh breads, produce and meats — in a 7,000-square-foot space equipped with parking for 300 cars.
“As with all of our developments, it’s Triangle’s mission to deliver value for the communities in which it invests, and in St. George creating access to healthy food options in an under-served area is an aspect of accomplishing that goal,” said Lester Petracca, president of Triangle Equities.
In a statement, Triangle Equities said St. George is currently defined as a “food desert,” by the United States Department of Agriculture, meaning that it’s without ready access to fresh, healthy and affordable food.
“A fresh food market will be a welcome addition to our growing St. George neighborhood, bringing fresh produce to residents, visitors and commuters,” said Councilwoman Deborah Rose (D-North Shore). “This market will contribute to both the physical and economic health of the neighborhood.”
MORE JOBS COMING TO ST. GEORGE
Borough President James Oddo applauded the project for increasing the borough’s employment pool.
“I’m a big believer in health and wellness, so I’m pleased to see the addition of a market at Lighthouse Point that will increase access to healthy food options on the North Shore,” said Oddo.
“The addition of this market will bring more jobs to the area, which is great news for all Staten Islanders. Adding amenities like this will make St. George and the surrounding neighborhoods a more attractive place to live and work,” he added.
The market will join Regus’ Spaces, a co-working office concept, as part of the three-story, 65,000-square-foot commercial base of the residential tower.
The overall project — under construction on the St. George waterfront immediately adjacent to the Ferry Terminal — calls for more than 23,000 square feet of restaurant, office and hospitality space, including a new 145,000-square-foot, 175-room hotel tower with approximately 15,000 square feet of event space.
The first residents are expected to move in by the end of the year.
Twenty percent of the apartment units will be set aside for affordable housing, which will be rented through a lottery system via the city Department of Housing, Preservation and Development.
The project was financed with a mix of public and private sources, including debt and tax credit equity from the Goldman Sachs Urban Investment Group, a loan from Citizens Bank, capital from the Empire State Development Corporation and the City of New York, and equity from Lubert-Adler.