News October 22, 2021

Madison Realty's altered plans for SI complex approved

The Real Deal reported that Staten Island City Council’s land use committee approved the St. George waterfront development on Thursday after the proposed complex reduced tower heights and unit counts. The approval came one day after the City Council’s zoning committee also approved the revised plan. The proposal will now return to the City Planning Commission, which approved the previous plan last month. If the City Planning Commission gives the go-ahead, the City Council will vote on the project in November. Madison is looking at developing a three-building, 700-unit complex along the waterfront, near the intersection of Hamilton Avenue and Stuyvesant Place. Under the new plan, 30 percent of the apartments will be set aside for affordable housing. Additionally, at least 30 percent of the construction process will be contracted to minority- or women-owned businesses.

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