The Pearl, a new 270-unit affordable housing development, has completed construction and yesterday celebrated its ribbon cutting at 475 Bay Street in Stapleton, Staten Island. Developed by BFC Partners and Selfhelp Realty Group, the 12-story building boasts 138 apartments specifically reserved for formerly unhoused seniors with on-site supportive services, as well as retail space. It was designed by GF55 Architects, and cost approximately $155 million to build.
All apartments at the Pearl are offered to households earning up to 80 percent of the area median income. The building features 10,000 square feet of ground-floor retail space and residential amenities that include roof terraces, a fitness area, a children’s room, and outdoor activity space.
The Pearl at 475 Bay Street, via NYC Housing Connect
The supportive apartments benefit from an Empire State Supportive Housing Initiative award, administered by the New York State Department of Health. Selfhelp provides support services, including mental and physical wellness programs, nutrition workshops, and transportation to health care providers.
“As a native Staten Islander, I am incredibly proud to bring community-centered, urban development solutions to our borough. Securing essential housing for those in need is deeply rewarding, and the opening of The Pearl marks a significant step toward inclusivity, demonstrating our commitment to accessible housing for all,” said Joseph Ferrara of BFC Partners.
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Lately, there are only beautiful designs, for both affordable and expensive housing: Thanks.