ITHACA — A Skaneateles developer has started work on a project that will build 29 homes on three acres of land near Cornell University in Ithaca. “These college towns throughout the Northeast are really the places to do these kinds of ‘urban infill’ projects,” says Toby Millman, president and owner of Agora Homes and Development, […]
ITHACA — A Skaneateles developer has started work on a project that will build 29 homes on three acres of land near Cornell University in Ithaca.
“These college towns throughout the Northeast are really the places to do these kinds of ‘urban infill’ projects,” says Toby Millman, president and owner of Agora Homes and Development, LLC. “These are the micro markets that a lot of the experts are talking about. There are some healthy pockets throughout the country right now.”
The project, which Millman dubbed the Belle Sherman Cottages community, will construct 19 single-family detached homes and 10 townhomes on land at 808 Mitchell St. Crews started pouring footers on Aug. 23 for the first of the homes that will be owner-occupied.
The construction comes after Agora hosted a ribbon-cutting ceremony in June at a model home built at 101 Walnut St., which is a newly laid road that runs through the land at 808 Mitchell St. Homeowners will be within walking distance of Cornell University, so Agora is targeting buyers with ties to the institution, Millman says.
Workers will build the homes as Agora sells them to residents. Millman anticipates all homes being sold and constructed in 24 to 30 months.
Agora is partnering with Lansing–based broker Audrey Edelman RealtyUSA to sell the homes. Prospective buyers currently have the choice between two stand-alone home models, and Millman expects to open townhomes for sale soon.
Both stand-alone home models have three bedrooms and two-and-a-half bathrooms, Millman says. But a model called the “bungalow” totals 1,748 square feet, while a model called the “farmhouse” has 1,835 square feet.
Millman points out some other variations.
“Architecturally, they look a bit different,” he says. “The real difference is the bungalow offers a master bedroom on the ground floor. That’s appealing to the older empty nesters. The farmhouse is a more traditional plan.”
The townhomes, by comparison, were drawn up to have two bedrooms and two-and-a-half bathrooms. Their size is set for 1,590 square feet.
Agora is using modular construction. The homes will be largely built off-site and delivered to their lots when they are about 80-percent complete. Then, local contractors will finish them on-site.
Carina Construction Services, LLC, an Ithaca–based firm specializing in modular building, is lined up to finish the homes once they are delivered to their lots, Millman says. Simplex Industries, Inc. of Scranton, Pa., fabricates them.
Millman chose Simplex because the company was willing to build custom designs, he says. He hired an architect versed in modular design, Allison Ramsey Architects Inc., of Beaufort, S.C., to draw up homes that matched the surrounding neighborhood in Ithaca.
“We really try to show that modular construction doesn’t have to look like what people think it’s going to look like,” Millman says. “I love having people walk through and telling them it’s a modular home and seeing their eyes light up.”
The single-family stand-alone homes will be priced in the mid $300,000 range. For the townhomes, Agora plans asking prices in the upper $200,000 range.
Buyers will also have the option of ordering their homes built with an eye toward the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) standards. Agora is currently pursuing LEED silver certification for Belle Sherman Cottages’ model home, Millman says.
Agora planned the homes for land it acquired from Lott Motor Lines after that company merged its operations with Sunshine Bulk Commodities, Inc. in Clifton Springs, according to Millman. He closed on the property in August of 2011 for just over
$1 million. Warren Real Estate of Ithaca, Inc. brokered that deal.
The housing project fits the neighborhood better than the trucking company, according to Millman.
“It was kind of interesting, right in the middle of this older single-family neighborhood they were running 18-wheel trucks,” he says.
And neighbors seem to be supportive of the housing development, Millman adds.
“They really did not want to see student housing here because it’s really the last owner-occupied neighborhood near Cornell,” he says. “Everyone who had looked at this site wanted to do apartments.”
The housing project will cost a total of $8.5 million, Millman estimates. Sources of financing include a loan from M&T Bank and equity investments from a group of investors who wish to remain private, he says.
Millman founded Agora Development in 2009 to specialize in modular construction. He declined to share revenue totals for the business, which he runs from his home in Skaneateles. The firm has one other development project currently under way in Northampton, Mass.
Contact Seltzer at rseltzer@cnybj.com