The Pearl – 475 Bay Street

The Pearl is a 12-story, 250,000 square foot affordable housing development at 475 Bay Street in Stapleton, Staten Island — the first project to break ground under the Bay Street Corridor Neighborhood Plan, a citywide rezoning effort to transform Staten Island's North Shore into a vibrant residential neighborhood. Completed in 2024 at a total cost of $151 million, the building delivers 270 affordable homes for families and seniors.

Half of The Pearl's 270 units are reserved for formerly unhoused older adults — seniors with incomes at or below 30% of area median income — with on-site supportive services provided by Selfhelp Community Services through the Empire State Supportive Housing Initiative. The remaining units serve households earning up to 80% AMI. The building includes a fitness center, children's playroom, communal lounge, rooftop terrace with waterfront views, and dedicated spaces for senior residents, along with ground floor community and retail space.