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475 Bay Street
Update
03/13/23
Staten Island Affordable Housing Project Nears Top Out
Developer and general contractor, , recently shared photos of the construction progress at 475 Bay Street; a 12-story mixed-use project going up in Staten Island's Stapleton neighborhood.
At this time, concrete superstructure work is nearly finished, and the building is close to topping out.
Upon completion, the development is set to contain rental apartments. Approximately 131 of these units will be reserved for affordable housing and offered to those sitting at or below 80% of the area median income (AMI). This figure equates to around $85,920.
Tenant amenities are to include roof decks, dedicated child and senior rooms, a fitness center, a lounge, a movie room, and a space for community support services. Plans also call for square feet of retail space, located on the ground floor.
Designed by , 475 Bay Street will stand feet tall and total square feet. Construction costs are hovering around $151 million, and work is expected to wrap up by the summer of 2024.
The development comes as part of the Bay Street Corridor Neighborhood Plan. Through over $1 billion in public and private investments, the plan aims to connect Staten Island's mixed-use town centers of St. George, Tompkinsville, and Stapleton by creating a new, walkable neighborhood. The initiative is creating opportunities for housing, businesses, and jobs with easy access to existing public transportation infrastructure.
