An innovative competition by the New York City Economic Development Corporation to attract catalytic retail businesses to Downtown Staten Island
At the tip of a borough of nearly 500,000 residents, Downtown Staten Island is undergoing a significant transformation. Nearly 70,000 Staten Island Ferry riders now pass through the neighborhood every day. More than 30,000 young New Yorkers are building strong artist and ethnic communities here. The world’s largest Observation Wheel will soon break ground next to the Staten Island Yankees’ stadium and the St. George ferry terminal. More than a thousand new housing units are planned for the waterfront, along with new parkland and retail investments.
Staten Island Storefronts provides a unique opportunity for retailers, restaurateurs, service providers, and entertainment venues to get in on the ground floor – it’s a race for space with more than $400,000 in prizes to be distributed to entrepreneurs and established businesses alike seeking to be a part of growing this neighborhood unlike any other in New York City.
New York City Economic Development Corporation ("NYCEDC") has established a fund of $425,000 in prizes to be awarded to eligible businesses opening new storefronts in existing spaces located within the Eligibility Zone of Downtown Staten Island on a first-come-first-served basis:
Winners will not only get cash to help open their new storefronts, but will also be recognized by NYCEDC and the Staten Island Storefronts Advisory Committee as stewards of a new downtown.
Our goal is to fill storefronts in Downtown Staten Island with businesses ready to commit to being a part of the neighborhood and invest in its future. Almost anyone can apply, and almost any storefront is eligible, provided that:
Additionally, applicants must demonstrate that award money will leverage private investment, which may be demonstrated through annual rent equal to or greater than the prize amount, permanent space improvements of twice the award amount, or other means.
Upon submission, any application that meets these criteria and demonstrates its ability to follow through will be awarded a prize. Winners will be notified within approximately 2 weeks of submission of their application. Prizes will be distributed until the money runs out.