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PR- 213-13
June 20, 2013


More Than $180 Million in Public and Private Investment Will Lead to Construction of New Neighborhood on Site of Former Homeport Naval Base - Dormant for 20 Years

Project Will Include Affordable Housing, Retail, and Waterfront Esplanade

Mayor Michael R. Bloomberg, New York City Economic Development Corporation President Seth W. Pinsky, Staten Island Borough President James P. Molinaro, Council Member Debi Rose and Ironstate Development President David Barry today broke ground on construction on the New Stapleton Waterfront Development Plan, a major community-driven project that will create new housing, retail and a waterfront esplanade at the former Homeport site on Staten Island. Ironstate, which was selected in 2009 to lead the project after a competitive bid, will invest $150 million to construct approximately 900 units of residential housing, 20 percent of which will be affordable, as well as 30,000 square feet of ground floor retail, and 600 parking spaces. The City is committing $32 million towards the project for infrastructure improvements and the construction of a new waterfront esplanade providing the public with waterfront access. This collaborative project is the result of Mayor Bloomberg’s Homeport Task Force, which was convened to help transform the former U.S. Naval Homeport on Staten Island’s North Shore, and will lead to the activation of an underutilized waterfront by creating new housing, retail and significant improvements in critical public infrastructure.

“Today’s groundbreaking is yet another sign of the redevelopment of Staten Island’s North Shore,” said Mayor Michael R. Bloomberg. “The New Stapleton Waterfront, complete with housing, retail, and a brand new waterfront esplanade, will create over a thousand jobs and help revitalize this neighborhood that has long been one of New York City’s best-kept secrets, with sweeping views of Lower Manhattan. Combined with a giant Ferris wheel, a brand new outlet mall, and new housing at the Lighthouse Point, Staten Island’s North Shore is poised to become New York City’s next great neighborhood.”

As part of the New Stapleton Waterfront Development Plan, the City and its partners have also addressed the potential for future major storms, with all planned buildings on the site having been elevated by two feet and a new set of tidal wetlands being built to mitigate possible storm surges and flooding. The project is a key part of the City’s comprehensive strategy to further promote economic growth on the North Shore of Staten Island, which will include the construction of the New York Wheel, the largest Ferris wheel in the Western Hemisphere; a new mall, Empire Outlets; and the Lighthouse Point development project. The first phase of the new Stapleton waterfront project is anticipated to create more than 1,100 construction jobs and 150 permanent jobs, providing a significant impact to Staten Island’s economy.

“The groundbreaking of the New Stapleton Waterfront represents the culmination of years of work by the City to create a new mixed-use neighborhood on the site of the former Navy Homeport,” said Deputy Mayor Robert K. Steel. “By creating one thousand new jobs, hundreds of units of housing, 30,000 square feet of retail and brand new open space, the New Stapleton Waterfront will be a wonderful addition to Staten Island.”

“Today’s groundbreaking represents the next step forward in the Bloomberg Administration’s ongoing work to revitalize Staten Island’s North Shore,” said New York City Economic Development Corporation President Seth W. Pinsky. “Building upon recent development plans, including the New York Wheel and Empire Outlets, the Homeport project, along with the nearby waterfront park and esplanade, will enhance the resiliency of, and spur economic growth in, the Stapleton community, Staten Island and the City as a whole.”  

“Today is a huge step forward for the Homeport redevelopment plans,” said Borough President James Molinaro. “As we begin the construction phase, the long-awaited dream of a revitalized waterfront begins to take shape. I want to thank Mayor Bloomberg for his support, as well as Ironstate Development Company President Dave Barry for his investment in Staten Island’s future.”

“When the Navy left the Stapleton home port 20 years ago, a promise was made that the area would be revitalized,” said Council Member Debi Rose. “Today’s groundbreaking ceremony of the ‘New Stapleton Waterfront’ represents another major step in the renaissance of the North Shore waterfront. Thanks to the vision of the community and Ironstate Development Company in cooperation with all of our city and local stakeholders, this residential-and-retail development is moving closer to reality.  I’m especially pleased that this much welcomed waterfront project was designed to meet the storm resiliency requirements. It will serve as an anchor for the Stapleton community and will help increase the density needed to spur the local economy. I want to thank David Barry, president of Ironstate, for investing in Stapleton as well as Mayor Michael R. Bloomberg, New York City Economic Development Corporation President Seth W. Pinsky, and Staten Island Borough President James P. Molinaro for working together on a comprehensive strategy to revitalize Staten Island’s North Shore.  I look forward to its completion of the ‘New Stapleton Waterfront’ project.”

“The New Stapleton Waterfront is a welcome addition to this historic Staten Island community," said Senator Charles Schumer. "Transforming the non-functioning U.S. Naval Base into a very functional mixed-use residential waterfront community is a smart investment for our city and I am confident it will attract new residents, visitors and be a boon to the local economy. I applaud Borough President Molinaro for his constant advocacy and Mayor Bloomberg and NYC EDC for bringing this terrific revitalization project to fruition.”

“Today’s groundbreaking marks a critical step forward towards transforming and revitalizing Staten Island’s waterfront,” said Senator Kirsten Gillibrand. “The City's new collaborative project will have a lasting impact on economic growth, improved public infrastructure, and job creation across Staten Island's North Shore.”

“Today’s groundbreaking will kick-off an economic revitalization of the Stapleton Waterfront,” said Congressman Michael Grimm. “This project will create a vibrant new community on the North Shore with a mixed-use space for housing, retail, and open space; as well as bring new jobs to Staten Island.  I applaud the City for maximizing this development opportunity by including plans to upgrade our infrastructure and strengthen protections against storm damage and flooding.”

“Stapleton is in the middle of a renaissance from this waterfront development, to the Gerald Carter Recreation Center and New Senior Housing at Stapleton Houses, to the designation of historic hillside; all of which is centered on a redesigned Tappen Park and the expansion Stapleton Library,” State Senator Diane Savino said. “The renaissance of Stapleton, will establish it once again as a major shopping and recreation destination, which will now include safe smart waterfront development.”

"The New Stapleton Waterfront is going to be a great addition to Staten Island," said Assemblyman Matthew Titone. "I am excited to see the north shore being rejuvenated with ambitious projects that will stimulate our economy, provide new jobs, and transform our community."

The world continues to urbanize, creating more and more demand for housing opportunities that meet the needs of the outwardly mobile professional,” said Ironstate Development President David Barry.This is particularly true in Staten Island, where many young people are leaving the communities in which they were born and raised because exciting housing and lifestyle options simply don’t exist here.  Our project is designed to meet this need with smartly-designed residences, forward-thinking amenities, open space, carefully-selected boutique shops, restaurants and convenient access to mass transportation to create a vibrant, sustainable environment for the 21st Century. The considerable investment we’re making in the area, in conjunction with the financial commitments and support of Borough President Molinaro’s administration, Mayor Bloomberg and the NYCEDC, will effectively open up the waterfront to the public, enhance the quality of life for Staten Island residents, and serve as a catalyst for a broader revitalization of Bay Street and the surrounding neighborhoods.”

The new mixed-use development will feature residential buildings with ground floor retail and new public open space to further encourage connections with adjacent neighborhoods. In addition, it will be accessible to the St. George Ferry Terminal and the broader metropolitan area mass transit network through the Staten Island Railroad, at the adjacent Stapleton station, and multiple bus routes along the Bay Street corridor. The first stage of development, expected to be completed in 2015, will consist of approximately 340,000 square feet of residential housing, 25,000 square feet of retail and accessory parking. The second stage includes 260,000 square feet of residential housing, 5,000 square feet of retail space and accessory parking.

The design of the project has also been altered to improve resiliency in the wake of Hurricane Sandy. All buildings on the site will now be constructed two feet higher than previously designed. Additionally, the public open space adjacent to Ironstate’s development will include innovative protection measures to reduce storm damage and prevent further shoreline erosion. These include “the Cove”, a new tidal wetlands area of approximately 30,000 square feet located between Canal and Water Streets to mitigate against storm surges and flooding. A storm water management system located in the public open space surrounding the Cove will include 60,000 square feet of bio-swales – elements to remove pollution from water – to capture and treat storm water before it reaches the bay. This system is unique in New York City for its scale and cutting edge design, and, together with the Cove, provides much-needed flood and storm water mitigation for Stapleton and the surrounding areas.

The City is also currently undertaking major road reconstruction, including critical upgrades to Front Street, which are expected to be completed at the end of this year. In keeping with the Bloomberg Administration’s commitment to environmental sustainability, the City’s plans for the New Stapleton Waterfront have achieved Silver certification in the Leadership in Energy and Environmental Design for Neighborhood Development (LEED-ND) program administered by the U.S Green Building Council.

The development of this site will greatly contribute to economic growth on Staten Island, as outlined in comprehensive planning efforts such as the Waterfront Vision and Enhancement Strategy (WAVES). Launched in March 2011, WAVES is a citywide initiative launched by Mayor Bloomberg which will create a new sustainable blueprint for the City’s more than 500 miles of shoreline. WAVES has two core components: Vision 2020: The New York City Comprehensive Waterfront Plan, which will establish long-term goals for the next decade and beyond, and the New York City Waterfront Action Agenda, which will set forth priority initiatives to be implemented within three years. Together, the initiatives will provide a blueprint for the City’s waterfront and waterways, and focus on the following categories: open space and recreation, the working waterfront, housing and economic development, natural habitats, climate change adaptation and waterborne transportation.

Ironstate Development is one of the largest privately held real estate development companies in the Northeast United States.  Based in Hoboken, New Jersey, Ironstate engages in the development and management of large-scale mixed-use projects and has a diverse portfolio of apartments and hotels valued at several billion dollars.  Ironstate has a history of developing and revitalizing established urban centers.  The company has approximately $1 billion in the development pipeline. 


Marc La Vorgna /Julie Wood   (212) 788-2958

Patrick Muncie/Nick Kelly (NYCEDC)   (212) 312-3523


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