STATEN ISLAND — STAPLETON — The long-awaited transformation of the Stapleton waterfront is under way at the 35-acre Home Port, the decommissioned U.S. Naval base.
Ironstate Development Company, the Hoboken-based private developer, is taking the lead with a $150 million project on seven acres of the site. The first phase will see the construction of about 450 rental apartments and 25,000 square feet of street-level retail space.
Ironstate expects demolition to be completed, and the site cleared, by mid-February. Construction is planned to start in late summer, and the first housing units ready for leasing and occupancy in Fall 2013.
The second phase of the project calls for another 450 apartments and an additional 5,000 square feet of retail space.
The city will spend $33 million for major road reconstruction and improvements, and the creation of a waterfront esplanade. The open space will include walking paths, lawns and landscaped areas, and a new public launch site for non-motorized boats, plus docking for historic vessels, according to the city’s Economic Development Corporation.
Ironstate Development Company specializes in the development of residential and commercial real estate, and currently owns and manages over 6,000 housing units. Its projects include:
- The Shipyard, Hoboken, N.J.: 1,160 residences, 65,000 square feet of retail shops, a one-acre park, ferry stop and marina on the Hudson river-front.
- Port Liberte, Jersey City, N.J.: A 1,650-unit waterfront condominium facing the Statue of Liberty.
- Pier Village, Long Branch, N.J.: A “Victorian-inspired village,” with 543 luxury rental units, a boutique hotel, and 100,000-plus square feet of entertainment and retail shops, including a beach club, gourmet restaurants and boutiques on the oceanfront.
- The W Hoboken Hotel & Residences, Hoboken, N.J.: A 25-story hotel with 225 guest rooms and 40 condominium residences on the waterfront.