A massive residential development is poised to reshape a sleepy stretch of industrial waterfront in Rosebank, along the eastern shore of Staten Island. YIMBY has the first look at the complex, which will stretch across three buildings and 18 acres at 125 Edgewater Street.
Developer V Capital Management hopes to rezone the site between Greenfield Avenue and Sylvation Terrace to make way for half a million square feet of apartments and retail space. The firm wants to erect three buildings with nearly 400 apartments on a vacant lot where the city currently only allows manufacturing.
These renderings, by Gerald Caliendo Architects, come from V Capital’s zoning application filed with the Department of City Planning. The buildings would be 13-, 12- and six stories tall and hold a total of 371 or 396 apartments, depending on which plan makes it through the public review process. The first proposal calls for a development that includes 24,000 square feet of retail but fewer apartments. The second plan would have more apartments, but would lack retail, which could boost street life on a fairly dead stretch of waterfront. Regardless of how many apartments get built, the development would have a 346-car parking lot.
Twenty percent of the apartments would rent for below-market rates to families making up to 80 percent of the Area Median Income, or $78,336 for a family of three.
Eventually, the Edgewater Street complex will offer a landscaped, 60,000-square-foot public esplanade, linking to a longer stretch of public waterfront planned in Stapleton. The city is also planning a fairly dramatic rezoning just north of here along Bay Street in Stapleton and Tompkinsville. If that proposal moves forward, it will bring buildings as tall as 16 stories to the North Shore.
If approved, the developer expects construction to begin the fall of 2017 and wrap by the end of 2019.