Can Staten Island Get It Right This Time? $400 Million Spent On Yet Another Waterfront Revival
The city has allocated $400 million for the development of an extensive park along the New York Bay in Staten Island, aiming to attract private businesses to invest in the borough.
This four-year initiative, championed by Mayor Eric Adams and Councilwoman Kamillah Hanks as a renewed commitment to the North Shore, outlines the creation of a two-mile waterfront park, stretching from the Bayonne Bridge to the Verrazzano-Narrows Bridge, akin to Manhattan’s western side park.
Legislators are optimistic that this 20-acre waterfront promenade will entice approximately 8,000 new job opportunities and expedite the construction of numerous housing units.
Mayor Adams expressed his enthusiasm during a Pier 1 event, stating, “When people come down here and witness the beauty of the waterfront, builders will recognize the growing interest and invest.”
Addressing the historical neglect of Staten Island, Adams affirmed, “For so long, Staten Island has been denied and ignored, earning the title of the forgotten borough. I want to make it abundantly clear during my tenure: You are not forgotten in this administration.”
The construction of the promenade is scheduled to commence in the upcoming autumn while the city seeks funding for the deteriorating fishing pier at St. George Ferry Terminal and a new developer for the abandoned New York Wheel project.
The ambitious plan also entails:
- The New York City Economic Development Corporation will expedite the completion of the Lighthouse Point and Staten Island Urby housing projects.
- A fresh request for proposals for the 35-acre former U.S. Navy base in Stapleton, aiming to establish a school with 600 seats and 2,000 new mixed-income residences.
- The restoration of waterfront access to the three acres in front of the originally planned Ferris wheel site on Banks Street, which suffered damage from severe weather.
While much of the plan hinges on private enterprises recognizing the potential and investing, officials foresee a potential economic impact of nearly $4 billion if it comes to fruition.
This investment news follows Mayor Adams’ recent caution regarding the city’s finances, as it grapples with significant expenditures related to the migrant crisis in New York City. City agencies have been advised to prepare for budget reductions of up to 15%.
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