|Contact:||Sunny Mindel/Curt Ritter(212) 788-2958|
|Bernadette O'Leary 212/312-3523 (EDC)|
The Nicotra Group Project Will Be First Hotel Built In Staten Island In 20 Years
Mayor Rudolph W. Giuliani and Staten Island Borough President Guy Molinari today joined Richard and Lois Nicotra and Craig Mance of Hilton Hotels Corporation at the signing of an agreement that will bring a Hilton Gardens Inn® to Staten Island. Michael G. Carey, President of the New York City Economic Development Corporation (EDC), also participated in the event.
Under the terms of the agreement, the Nicotra Group will construct a 150-room hotel just off the West Shore Expressway. The new hotel, Staten Island's first in 20 years, will be part of a complex that will create more than 200 jobs for the community. The complex will also include an 80,000-square-foot office building, a day care center, and a landscaped garden between the buildings. Construction on the hotel will begin this Spring and completion is expected in the Summer of 2001.
The new hotel will be located adjacent to the Staten Island Corporate Park where the Nicotra Group has built three class A office buildings that are home to offices of Allstate, Anthem Health & Life, Prudential and MetLife, among others.
"This project will mean that visitors to Staten Island will be able to stay in the Borough rather than having to travel to Manhattan or New Jersey to find lodging," said Mayor Giuliani. "With hotel occupancy rates in the City at an all-time high, this is a great time for development of a hotel for Staten Island. This project will also create important new jobs for the community."
The Nicotra Group was selected to purchase and develop the property as a result of a Request for Proposals (RFP) issued by EDC on behalf of the City.
"With its proximity to Newark Airport and the Staten Island Corporate Park, the Hilton Garden Inn® Staten Island will exemplify an ideal product to serve the market," said Richard Nicotra, President of the Nicotra Group. "Our services will be focused on and suited to meet the needs of business and leisure travelers alike visiting the New York metro area."
"Hotel accommodations representing the upper end of the mid-priced hotel category are in high demand among cost-conscious business travelers as well as leisure travelers seeking a weekend getaway or vacation," said Tom Keltner, Executive Vice President and President of the Franchise Hotel Group for Hilton Hotels Corporation. "Hilton Gardens Inn® hotels are uniquely designed to meet the needs of this burgeoning segment."
New York City's hotel industry has enjoyed an astonishing success in recent years, and there continues to be a strong market for new hotel rooms. New York City's average occupancy rate during 1998 was 84 percent, the highest among U.S. cities. Upon completion, this hotel will nearly double the number of available hotel rooms in Staten Island.
"This new hotel will be the perfect complement for the three office buildings that the Nicotra Group has already built in the Staten Island Corporate Park," said EDC President Michael Carey. "I commend Richard and Lois Nicotra for their continued commitment to quality development, to Staten Island and to New York City."
The development of a hotel on Staten Island is just one of the many initiatives Mayor Giuliani has undertaken to spur economic progress in the Borough. Other projects include construction of interim and permanent minor league baseball stadiums and renovation of the St. George Ferry Terminal.
EDC is the City's primary vehicle for economic development services. Using its real estate and financial resources, EDC helps develop business and create jobs throughout the five boroughs.