STATEN ISLAND, N.Y. -- What was iInitially reported to be an eight-story mixed use building in Stapleton will now be a 12-story building, according to a published report.
BFC Partners, the developers of Empire Outlets, purchased the 53,922-square-foot parcel in Stapleton and will turn the property into a mixed-use building with residential and commercial space.
The 208,000-square-foot project, located at 475 Bay St., will consist of 274 residential units across 198,000 square feet, according to The Real Deal.
At least 20% of those apartments will be set aside for affordable housing, Joseph Ferrera, principal of BFC Partners, told the Advance in 2016, stating that BFC Partners fully stands behind the de Blasio administration’s affordable housing initiative.
“There are many different levels of affordability. A family of four with a firefighter and a nurse can still qualify for an affordable unit in New York City. That’s the target audience. … People shouldn’t be afraid of affordable housing,” Ferrara told the Advance in 2016.
Ferrera said the residential units would range in size from studio to three-bedroom apartments.
The remaining 10,000-square-feet of the 12-story project will be commercial space.
The Advance/SILive.com previously reported BFC Partners was to close on the property with a price tag of $4 million.
A spokeswoman for BFC Partners said the company declined to comment when asked for additional information and an update about the project.
In 2016, Ferrara said the future of the project would depend on the City Planning Department rezoning to create the Bay Street Corridor.
The Bay Street Corridor Rezoning plan passed overwhelmingly in June 2019 by a vote of 44-2, with Island Republican Councilmen Joe Borelli (South Shore) and Steven Matteo the only members who voted against it.
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Empire Outlets developer moves forward with plans for 12-story mixed-use building in Stapleton - SILive.com
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