New York’s Staten Island. Thirty newly built rent-stabilized condos at the Residences at Lighthouse Point in St. George have an application lottery deadline approaching.
The deadline for rent-stabilized applications is January 16, 2025, and the mixed-use property has been in development since 2016. The rent-stabilized spaces’ eligible income ranges from $33,875 to $218,010.
Seven two-bedroom apartments, seventeen one-bedroom apartments, and six studios are among the available units.
The 115 residences in the 13-story building, which was constructed in collaboration with Lubert-Adler, New York State and Empire State Development, and the New York Economic Development Corporation, all include recessed lighting, eight-foot ceilings, and in-home washers and dryers.
Quartz worktops, espresso-colored cabinets, and stainless steel appliances are common in kitchens. The bathrooms have matte black medicine cabinets, a wall-mounted espresso vanity, and white porcelain bath tiles that run the length of the room.
All building residents will have access to a private beachfront esplanade, a state-of-the-art fitness center, and a rooftop lounge, and some apartments will have private outdoor areas. Additionally, homeowners have access to 115 covered parking spaces.
According to a description on the Lighthouse Point website, the Residences at Lighthouse Point is Staten Island’s newest premium rental neighborhood, perched above New York Harbor and offering unhindered vistas that extend from Brooklyn to Manhattan. The 115-unit complex of studio, one-, and two-bedroom rental apartments, designed by Cooper Carry Architects and built by Triangle Equities, is located at the center of the St. George regeneration project and is situated atop a public park, pier, and esplanade.
The project, which is officially situated at 35R Bay St., close to the Staten Island Ferry Terminal, has seen several setbacks: Development started in 2016, but was put on hold for years when a general contractor filed for bankruptcy in 2019 and became involved in a number of legal disputes. The project got back on schedule in 2022 when construction resumed.
For 30 newly built units at the Residences at Lighthouse Point, a mixed-use property in St. George that has been under construction since 2016, NYC Housing Connect is taking lottery applications through January 16, 2025. (Triangle Equities, with permission)(Triangle Equities, with permission)
According to the builder, Lighthouse Point, a federally recognized National Historic Site, was the hub of lighthouse operations for the United States in the late 19th and early 20th century. It was also the location of the United States Lighthouse Service Depot Complex.
Triangle Equities stated in its marketing materials that the development team’s work on Lighthouse Point involves the preservation and rehabilitation of four historic structures, a system of subterranean vaults, and a historic wall, preserving the site’s historic character while adapting it for contemporary usage.
A total of 60,000 square feet of commercial space is planned to be built in the neighborhood in addition to these 115 residential units.
The following information relates to the housing lottery:
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The apartments are reserved for New Yorkers earning from 40% to 130% of the area median income (AMI). The developer has said the current AMI for New York City is $108,700 for a person living alone.
Lighthouse Point has the following 30 apartments available:
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Six studio apartments for households earning from $33,875 to $55,920, with rents starting at $903/month.
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Seventeen one-bedroom apartments available for households earning from $51,703 to $100,620, with rents starting at $1,411/month.
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Seven two-bedroom apartments available for households earning from $62,058 to $218,010, with rents starting at $1,682/month.
In addition, a small portion of the units are reserved for individuals with visual, hearing, and mobility impairments; a portion of the units are preferred for Community Board 1 residents and NYC staff.
See https://housingconnect.nyc.gov/PublicWeb/details/5390 for additional information.
For 30 newly built condos at the Residences at Lighthouse Point, a mixed-use property in St. George that has been under construction since 2016, NYC Housing Connect is holding a lottery until January 16, 2025. (Triangle Equities, with permission)(Triangle Equities, with permission)
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