Compass Announces Sale of Major Mixed Use Development Site in St. George, in Staten Island

Rendering of the River North Development, Development Site 2 sold by Compass shown far right' - FXCollaborativeRendering of the River North Development, Development Site 2 sold by Compass shown far right' - FXCollaborative

YIMBY has word that The Joe Tirone Team, an affiliated brokerage group under the Compass umbrella, completed the sale of three adjoining lots that were identified as “Projected Development Site 2” in a proposal to City Planning by Madison Realty Capital late last year. That parcel was envisioned to give rise to a 117,848-square-foot, mixed use building. Madison owns, and will develop, “Projected Development Site 1” in their River North proposal, a multi-faceted mixed-use complex under city review that was formerly known as Liberty Towers, in Staten Island‘s St. George neighborhood.

The Compass Team identified the Site 2 lots as 198, 204, and 208 Richmond Terrace. Last week, their client, Brooklyn developer ZHL Group, closed on their purchase of 204 Richmond Terrace, completing the three lot assemblage. Rob Nixon of Cassandra Properties represented the owner of 198 and 208 Richmond Terrace on the sale to ZHL in November 2020.

“As a private development there is an opportunity here to introduce a much-needed balance to include middle income housing for Staten Islanders,” said Joe Tirone. “This project supports that, making the most of the transportation-rich location’s walkability
and reduced dependence on autos.”

Tirone added that The Bay Street Corridor and surrounding local developments are not responsive to Staten Island’s unique demographic profile and contends that the two projects will answer the call for multi-generational affordable living.

“I am hopeful that this development will be a new model for housing for police, firefighters, hospital workers, seniors, small business owners and others from middle income households who want to stay in Staten Island,” said Tirone.

Development Site 2 Within Liberty Towers Master Plan

Development Site 2 Within Master Plan

The entire development will comprise 750 residential units, with at least 30 percent or 225 units designated as affordable housing; 18,880 square feet of retail area; parking area designed to accommodate 341 vehicles; and 7,790 square feet of landscaped outdoor area, the majority of which will be available for public use.

(From Right to Left) Tim Huang, Joe Tirone, Salvatore Ingravallo; Three members of The Joe Tirone Team - Photo Courtesy of Compass

(From Right to Left) Tim Huang, Joe Tirone, Salvatore Ingravallo; Three members of The Joe Tirone Team – Photo Courtesy of Compass

The River North project is located a short walk from the Staten Island Ferry terminal, an iconic NYC transportation hub. A new city fast-ferry station is also planned to open in St George this year.

ZHL Group’s team includes Architects/Planners, Pablo Vengoechea and Timothy Boyland (V+B), land use experts and members of the St George community. Mr. Vengoechea is a former Director of City Planning’s Staten Island office and a past Commissioner at the Landmarks Preservation Commission. Mr. Boyland, a fifth generation Islander, says he’s excited for the project’s potential, adding “this is a block that’s been passed over by city planners for decades as most of the surrounding neighborhood has gotten the attention. The timing is right to re-evaluate a 60 year old zoning framework, to re-activate this streetscape, and advance a real sense of place in the heart of St George.”

According to members of the Compass team, this is “an opportunity to maintain and bolster the Island’s unique sense of identity: strengthening streetscapes, green space, and neighborhood fabric while sowing the seeds for new cultural and architectural
landmarks.”

Existing site that will become the River North Development - FXCollaborative

Existing site that will become the River North Development – FXCollaborative

“The developer, ZHL Group created an Economic Development Opportunity Zone Fund to participate in the tax deferral program that incentivizes real estate development in economically deprived neighborhoods,” said Salvatore Ingravallo, a Licensed Real Estate Salesperson on The Joe Tirone Team. “Staten Island’s waterfront is rich with federally declared Opportunity Zones which will see a lot of investment from off the island developers in the years ahead. Developments like this one will reinvigorate the local economy and perhaps inspire Staten Island households and small business owners who choose to live and work here.”

At this time, Madison’s River North development team has presented a draft Environmental Impact Statement as part of the Uniform Land Use Review Procedure process.

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18 Comments on "Compass Announces Sale of Major Mixed Use Development Site in St. George, in Staten Island"

  1. David in Bushwick | February 3, 2021 at 9:32 am | Reply

    “Middle income” is about as much as most Staten Islanders will accept.

  2. I just the term affordable units. Go ask what trash occupies those units at Urby on Stapleton. And this is much closer to the dreaded Jersey Street epicenter. I’d rather see high-end units to really transform the Notth Shore

  3. My name is Kevin Whaley and a very interested getting application to apply for one of those apartment I don’t care someone please contact me after 516-444-2119 thank you have a wonderful day

  4. I have always felt that the North Shore of Staten Island should become New York’s Sausalito. Perhaps this is a start in the right direction.

  5. I have always though that the North Shore of Staten Island should be New York’s Sausalito. Perhaps this is a start in the right direction.

  6. Imelda pebenito | February 3, 2021 at 5:34 pm | Reply

    I want an application for a one or two bedrooms please thank you.

  7. staten islander | February 3, 2021 at 5:39 pm | Reply

    ‘I am hopeful that this development will be a new model for housing for police, firefighters, hospital workers, seniors, small business owners and others from middle income households who want to stay in Staten Island,” said Tirone.’

    Cops, firefighters and small business owners buy homes, not rent apartments in high crime areas. Parking spots for only 45% of the units is a mistake too. Staten Island has an automobile-based economy and unless the people stupid enough to rent units in this development only want to shop at bodegas, they will own automobiles.

  8. Interested in getting an application … Great for getting in to the city!

  9. I live in St George and it is not a high crime area as stated above. Jersey street is about a 10 minute walk from here as well. There are no Bodega here as stated above. We have delis. Pretty sure the comments are from people not from the area and always have to have their two cents. I do agree with the parking, most parking at that site are Nypd.

  10. David : Sent From Heaven. | February 3, 2021 at 9:46 pm | Reply

    A team and their a few friends first I have to see them, and they are cool about it all the time; skills are great on how to deal with the project: Thank you.

  11. This is a HORRIBLE idea, why Highrises???? Why not shorter buildings?? You’re just gonna block the views of the Castleton Park high rises. This is so bad. I hate it

  12. They’re going to ruin staten Island there’s so much nature here and they’re going to ruin it because this will be the start of affordable housing and attracting too many people that are not from here and it’s a difference from a few coming from other places to move away from certain areas that has too much crime and have already affordable housing than attracting so many for making affordable housing in staten Island and making it into those areas that some didn’t want to live in anymore they’re going to ruin it. I have family who been here forever and some in other areas so I know what I’m talking about

  13. Staten Island could use more development like this both affordable and high-end housing. More emphasis should focus on infrastructure — in particular transportation hubs. St. George has such in place and with a fast ferry being added will only underscore how this kind of development can be successful.

  14. #byebyeJimmyOddo | February 5, 2021 at 12:25 pm | Reply

    Sorry to be a negative Nancy BUT the Politicians on Staten Island will never let this be what it could/should be. St. George/Stapleton/New Brighton should be S.I.’s “Downtown” but James Oddo and his gang will never allow the necessary Zoning changes to happen. Sorry SI but you voted for a BP who is not for the advancement of Staten Island.

  15. I m senior and veteran and would like an application for a one bedroom. I am Staten Island resident that being rip off by paying high rent. Just got my rent raise in Jan 2021 during this virus outbreak. Plz help me . !!!

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