- The NYC Economic Development Corporation has selected Artimus and Phoenix Realty Group to develop a two-building, 500,000SF residential project using mass timber—the largest of its kind in the city.
- The project will include over 500 units, with 25% designated as affordable housing for households earning 40–80% of the area median income.
- The initiative aligns with New York City’s broader push toward sustainable building materials and follows recent code updates allowing taller timber structures.
According to The Real Deal, New York City is embracing greener construction. The city’s Economic Development Corporation (EDC) has chosen Artimus and Phoenix Realty Group to build over 500 homes on Staten Island’s Stapleton waterfront. These buildings will be made with mass timber, a low-carbon alternative to traditional materials.
Breaking New Ground
This project will be the largest mass timber residential development in the city by square footage. It spans 500,000SF across two buildings. Although the material is gaining popularity, it’s still new to NYC.
In 2021, the City Council updated building codes to allow mass timber structures up to 85 feet tall. Before that, such buildings required extra approvals. Now, projects like this one can move forward more easily.
The Structure of the Deal
The developers will operate the site under a 99-year ground lease with the city. Instead of paying property taxes, they’ll make payments equal to the 485x tax break. Importantly, 25% of the units will be reserved for households earning 40% to 80% of the area’s median income.
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Support and Guidance
To help the project succeed, the NYC Mass Timber Studio will offer technical support. This city program launched in 2023 to promote the use of mass timber and guide developers through the process.
Part of a Larger Plan
This project is one piece of a broader waterfront redevelopment plan. That plan includes 2,100 apartments and a 600-seat public school. Ironstate completed the first phase in 2016 with a 571-unit housing complex. Last month, the city also broke ground on a waterfront esplanade. It will link Stapleton to Lighthouse Point and the St. George Ferry Terminal.
Why It Matters
New York has been slower than states like Oregon and California to allow tall timber buildings. However, this project shows the city’s growing commitment to sustainable materials. It could encourage other developers to follow suit.
What’s Next
With policy changes and city support, mass timber projects may become more common. As interest grows, New York could soon see more of these climate-conscious buildings across the boroughs.
