The project will redevelop the former factory into 100 market-rate lofts, including 85,000 square feet of commercial space, according to a news release.
The $22 million project will serve as the anchor development for the first-ward district in the City of Binghamton. It’ll connect the central business district, Westside, and Southern Tier Health Sciences and Innovation Park in Johnson City.
The state expects crews to complete the project in late spring 2019, ESD said.
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The four-story factory, located on Emma Street, is “historically associated” with the cigar-manufacturing trade and the camera and film industry, “two of Binghamton’s most important industries in the late 19th and early 20th centuries.”
The building was originally designed and built in 1927 for the General Cigar Company. However, it was the “nationally prominent” Ansco Camera and Film Company that ran its manufacturing operations in the building from 1937 until the company closed its doors in 1977.
The building is a “significant” landmark in Binghamton with its prominent water tower a “long-time feature of the skyline,” ESD said.
“Our vision is to preserve and celebrate the great history of a community landmark in the Southern Tier. We believe the project will build upon the exciting revitalization efforts currently underway in the region,” Matthew Paulus, president of Paulus Development said in the ESD news release.
Syracuse–based Paulus Development similarly repurposed the former R.E. Dietz Lantern Factory in Syracuse, a project that features loft style market-rate apartments and commercial space.
The Preservation League of New York State selected the Dietz rehabilitation project for its “Excellence in Historic Preservation” award, ESD said. The Preservation League presented the award in a ceremony held in New York City last month.
Contact Reinhardt at ereinhardt@cnybj.com
