Sky-High Ferris Wheel, Massive Outlet Stand to Transform SI

Image: NYCEDC

The Commercial Observer article “Reinventing the Wheel: Staten Island” explores the significant redevelopment wave sweeping across the North Shore waterfront, with emphasis on the collective impact of three transformative projects: the New York Wheel (now defunct), Empire Outlets, and Lighthouse Point, Triangle Equities’ $200+ million mixed-use development. Triangle’s Lighthouse Point serves as a key pillar of this revitalization effort, uniquely combining residential, retail, hospitality, public open space, and historic preservation directly adjacent to the Staten Island Ferry terminal in St. George. Among the three major projects, Lighthouse Point was praised for its scale, strategic location, and integration of community-serving amenities with long-term economic potential.

Unlike its neighboring developments focused primarily on tourism and entertainment, Lighthouse Point was designed to function as a true live-work-play environment, rooted in the local community while also appealing to visitors. Triangle Equities skillfully incorporated adaptive reuse of 19th-century U.S. Lighthouse Depot buildings, blending Staten Island’s heritage with modern development. The ground-level retail space, future 140-room hotel, and 115 market-rate apartments were all chosen to reinforce walkability and ensure activation of the site throughout the day and year. This balance between historic preservation, market feasibility, and placemaking demonstrates Triangle’s expertise in navigating complex, high-impact urban redevelopment.

The article credits Triangle Equities as a leading force in repositioning Staten Island’s image—not through spectacle, but through thoughtful, transit-oriented urban planning. Lighthouse Point has become emblematic of the kind of community-first, infrastructure-aligned investment that can catalyze broader neighborhood growth. As the ferry terminal connects thousands of daily commuters and tourists to St. George, Triangle’s forward-thinking master plan ensures Lighthouse Point will remain a long-term asset for both residents and the borough’s growing economy. In the context of Staten Island’s rising trajectory, Triangle Equities stands out as a trailblazing developer leveraging place-based strategies to unlock overlooked real estate potential.