The structure will span 162,000 square feet and rise to 70 feet. Each floor will hold about 30 apartments averaging 750 square feet.
The site currently is currently zoned for low density manufacturing and commercial uses -– for now.
The developer will have to seek a variance or a formal rezoning to permit residential development on the property.
BFC Partners will likely win permission to build the Bay Street project, in light of Bill de Blasio’s affordable housing initiative and the city’s emphasis on growth in Staten Island.
The developer’s St. George project, Empire Outlets, will be comprised of
approximately 100 designer outlet shops and a 200-room hotel on the
waterfront.475 Bay Street is being designed by Edelman Sultan Knox Wood Architects of Manhattan, and will rise along the Stapleton waterfront on Staten Island’s North Shore, not far from Ironstate Development’s Homeport complex.
The city’s Economic Development Corporation selected Ironstate for the first phase of construction at the 35-acre decommissioned Homeport naval base.
That project will soon be home to retail space and 900 units of housing, called Urban Ready Living Staten Island.
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