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PR- 408-09
September 16, 2009


First Stage of Stapleton Waterfront Development Will Create 800 Residential Units, New Stores, 1,100 Construction Jobs and 150 Permanent Jobs

Spurring Economic Development Projects and Revitalizing Neighborhoods throughout New York City is Part of the Bloomberg Administration's Five Borough Economic Opportunity Plan

Mayor Michael R. Bloomberg, Staten Island Borough President James P. Molinaro and members of the Homeport Task Force today announced Ironstate Development Company will invest $150 million to redevelop the approximately seven acres of the Homeport in Stapleton, Staten Island. As part of the community-driven Stapleton Waterfront Development Plan, Ironstate will transform the decommissioned U.S. Naval Base site into a green development with approximately 800 residential housing units with new stores and a public plaza, creating more than 1,100 construction jobs and 150 permanent jobs. The City will invest $33 million in this first phase of development of the Homeport site for infrastructure improvements and a new waterfront esplanade that will provide community access to the waterfront. State Senator Diane Savino, State Assemblyman Mathew J. Titone, Council Member Kenneth Mitchell, Deputy Mayor for Economic Development Robert C. Lieber, New York City Economic Development Corporation (NYCEDC) President Seth W. Pinsky and Ironstate Development Company President David Barry joined the Mayor at the announcement, which took place at the Homeport site.

“The redevelopment of the former Homeport Navy base will transform an underutilized waterfront site into a vibrant, new Staten Island neighborhood with housing, shops and beautiful open space,” said Mayor Bloomberg. “When combined with the waterfront and infrastructure improvements the City will be providing for the area, this project will be a catalyst for the future revitalization of the Stapleton neighborhood and other North Shore communities. I applaud the community leaders who participated in the Homeport Task Force for their dedication and service, and Ironstate Development for its confidence in the future of Staten Island.”

“I am thrilled to welcome Ironstate Development Company to Staten Island,” said Borough President Molinaro. “Today’s announcement is a great example of teamwork between the Bloomberg Administration, NYCEDC, my office, and the local elected officials who worked diligently to bring this project to today’s terrific announcement. Staten Island residents today and in the future will benefit from this development and it is truly a ‘win win’ for all.”

“I am pleased to hear that the City has worked together with Borough President Molinaro on securing a firm commitment from a developer,” said Congressman Michael E. McMahon. “Moving forward, it is important that the public amenities and corridor of connectivity between the waterfront and the upland community set forth by the Homeport Task Force are incorporated. All parties should be commended for working together and I look forward to the day when the Task Force’s vision becomes a reality.”

“From the day the Homeport Task Force announced their findings, I have called for more residential units in order to bring new residents to Stapleton, which will fuel the local economy and make it an even better place to live, shop and work," said State Senator Savino. "I am pleased by today’s announcement and look forward to bringing this project toward fruition."

“With this project Stapleton will begin to realize its potential as a vibrant neighborhood and exciting retail destination," said Assembly Member Titone. "Economically it is expected that this project will being hundreds of construction jobs to Staten Island and once completed 200 permanent jobs as well as business opportunities for Staten Islanders.”

“This is a viable project that will bring much-needed development to Stapleton," said Council Member Mitchell. "Thank you to EDC and Mayor Bloomberg for continuing to push to make this project a reality.”

Ironstate Development Company will build two residential buildings up to six stories tall each, in compliance with current zoning and designed to complement the character of the community. The complex will feature ground-floor retail accompanied by wide sidewalks and a public plaza for outdoor dining and to encourage pedestrian activity and public gatherings. The City is funding major road reconstruction and waterfront public open space adjacent to the housing complex. The improvements will include critical upgrades to Front Street and the streets that link the development site to the Stapleton community. The improvements will also provide the community with much-anticipated access to the waterfront. Designs are being finalized and the improvements will be implemented concurrently with construction of the development project. Construction is expected to begin in 2011, following completion of the project design and relocation of several City operations.

In keeping with the Bloomberg Administration’s commitment to environmental sustainability, the redevelopment of the entire Homeport site will participate in the new LEED (Leadership in Energy and Environmental Design) for Neighborhood Development program administered by the U.S. Green Building Council. The Ironstate residential project will seek LEED for New Construction certification.

“With stunning views and incredible waterborne access, the Homeport site will be transformed into one of the most exciting and attractive waterfront areas in New York City,” said Deputy Mayor Lieber. “It’s critical, now more than ever, that we make the necessary investments in infrastructure that pave the way for residential development. Today we mark an important step towards realizing that vision.”

“In these challenging economic times, it is great to be able to announce such a forward-looking project,” NYCEDC President Pinsky. “This project will do great things for the future of Stapleton and Staten Island in general. When combined with the waterfront and infrastructure improvements the City will provide, this project will be a catalyst for the future revitalization of the Stapleton neighborhood and other North Shore communities. I applaud the Homeport Task Force for their dedication and service and Ironstate Development Company for its vision and confidence in that revitalization.”

“Our company is proud to be chosen to lead the effort to develop the Homeport site,” said Ironstate Development President David Barry. “We intend to capitalize on Homeport’s tremendous transportation links and unique waterfront location to create an extraordinary new asset for the citizens of Staten Island. The proposed development, which will contain a variety of shops, restaurants, apartments and a brand new waterfront esplanade, will create hundreds of jobs and will be a credit to the community of Staten Island.”

In 2003, Mayor Bloomberg formed the Homeport Task Force, comprised of City officials, local elected representatives and business and community leaders to develop a plan for the site. In 2007, New York City Economic Development Corporation issued Requests for Proposals for residential and ground-floor retail development, a hotel with a banquet hall and restaurant, and a sports complex, but responses were limited and ultimately deemed unsatisfactory. The site will now be developed in phases, beginning with the housing, retail and waterfront esplanade. Ironstate Development Company was selected as the developer based on its proposal, which complied with the approved development framework for the Stapleton Waterfront, met the goals set forth by the Homeport Task Force, and complemented the historic character of the surrounding community.

Ironstate Development has a history of developing and revitalizing established urban centers. Some recent projects include The Shipyard, a development of residences, retail shops, ferry stop and marina on the Hudson River in Hoboken; Port Liberte, a waterfront condominium community in Jersey City; and Pier Village and Beach North, a mixed-use development rental residences, condominiums and townhomes and entertainment and lifestyle retail shops on the oceanfront in Long Beach, New Jersey.

The Bloomberg Administration’s Five Borough Economic Opportunity Plan is a comprehensive strategy to bring New York City through the current economic downturn as fast as possible. It focuses on three major areas: creating jobs for New Yorkers today, implementing a long-term vision for growing the city’s economy, and building affordable, attractive neighborhoods in every borough. Taken together, the initiatives that the City has launched to achieve these goals will generate thousands of jobs and put New York City on a path to economic recovery and growth. To learn more about the plan, visit Recent Five Borough Economic Opportunity Plan announcements include:

  • A marketing and tourism agreement to boost travel between New York City and London.
  • Broadway had its biggest season ever, selling 12 million tickets generating $943 million.
  • More than 800 retailers throughout the five boroughs participated in Fashion’s Night Out.
  • The City financed 12,500 low- and middle-income affordable housing units in the last year.
  • The start of construction of the $148 million East River Waterfront Esplanade.
  • The first housing projects to start using TCAP stimulus funds, creating 2,800 jobs.
  • The start of construction of an affordable housing complex in the South Bronx.
  • Steps to prevent a speculative purchase of Ocelot Capital Group sites in the South Bronx.
  • Plans for the first 120 units of the Seaview Senior housing project in Staten Island.
  • SecondMarket, Inc. will create 367 new jobs in Lower Manhattan through JCRP.
  • $1 million to create a shared commercial kitchen at La Marqueta in East Harlem.
  • The start of construction of a 600-unit mixed-income complex in the Bronx.
  • The start of construction of major improvements to Queens Plaza and Jackson Avenue.
  • $100 million for 14 infrastructure projects across Queens that will create 400 new jobs.
  • The adoption of the City’s plan for Coney Island that will create more than 30,000 jobs.
  • Resources for workforce training to New Yorkers for jobs in a green economy.
  • ImClone will locate its research headquarters at the City’s new bioscience complex.
  • A plan to create 11,000 permanent industrial jobs on Brooklyn’s working waterfront.
  • Eight initiatives to strengthen the media industry in New York City.
  • New initiatives to help support Hispanic-owned small businesses.
  • The opening of China Construction Bank’s New York City office.
  • New international cruise activity, growing New York City’s 13,000-job cruise industry.
  • Steps to help New York City’s bioscience companies compete for Federal funding.
  • Legislation that will green buildings and create 19,000 construction jobs.
  • Green projects at the Brooklyn Navy Yard are creating more than 1,700 permanent jobs.
  • Comprehensive initiatives to support the nonprofit sector and its 490,000 jobs.
  • New programs to provide training and resources for City’s future entrepreneurs.
  • 11 new initiatives to support the financial services sector and promote entrepreneurship.
  • $350,000 in NYC Business Solutions Training Funds awarded to small businesses.
  • Enhancements to the City’s Minority- and Women-Owned Business Enterprise Program.
  • The opening of a 125-unit mixed income housing development in the Central Harlem.
  • A record 10,500 job placements through the first half of 2009.
  • A plan to convert unoccupied apartments and stalled sites into affordable housing.
  • The opening of New Mount Hope Community Center in the Bronx.
  • The purchase of the Hunter’s Point South site to create a new, affordable neighborhood.
  • A public campaign to help more New Yorkers get free foreclosure prevention services.
  • The start of services of the Park Slope 5th Avenue Business Improvement District.
  • A stimulus-funded bond program to spur commercial and industrial projects citywide.
  • The City will use nearly $32 million to train 10,000 New Yorkers for jobs.
  • New space for 20 small businesses in Bushwick, creating more than 80 industrial jobs.
  • The citywide “Fashion’s Night Out” event to support retailers in all five boroughs.
  • The start to construction of the International Gem Tower, which will house 3,000 jobs.
  • City’s Workforce1 Centers in Harlem and Jamaica received awards for innovation.
  • Food Retail Expansion to Support Health (FRESH) program to encourage grocery stores.
  • City-supported loans unavailable from banks to help small businesses stay in operation.
  • Three new Financial Empowerment Centers offering free, one-on-one financial coaching.
  • Stimulus funding to help the City provide summer jobs for 51,000 young New Yorkers.
  • The opening of New Hope Walton Project, housing for low-income residents in Harlem
  • New affordable housing at Gateway Building, a long-vacant structure in the South Bronx.
  • The Harlem Business Assistance Fund to help businesses relocate to the 125th Street area.
  • The expansion of NYC Business Express to help businesses obtain permits and licenses.
  • The “Nine in ’09” campaign to promote economic activity in diverse neighborhoods.
  • A Center for Economic Opportunity program put 4,000 low-income New Yorkers in jobs.
  • Stimulus-funded community development projects that will strengthen neighborhoods.
  • Stimulus-funded Housing Authority projects that will create jobs for 3,255 New Yorkers.
  • The start of construction of 103 units of affordable housing in Brownsville.
  • The opening of Home Depot in the South Bronx creating 200 new permanent jobs.
  • The latest round of training funds to help small businesses train their employees.
  • The placement of 50 laid-off New Yorkers into positions at entrepreneurial companies.
  • New York City achieved a record 5,000 job placements through the first quarter of 2009.
  • Help for a beer distributor to create 55 permanent and 30 construction jobs in the Bronx.
  • Comprehensive initiatives to support the nonprofit sector and its 490,000 jobs.
  • Federal stimulus transportation projects that will create or preserve 32,000 jobs.
  • Steps the City is taking to help small businesses adapt to conditions and avoid layoffs.
  • A plan to create and retain 400,000 jobs over the next six years.


Stu Loeser/Andrew Brent   (212) 788-2958

David Lombino/Janel Patterson (NYCEDC)   (212) 312-3523

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