JOHNSON CITY, N.Y. — The Regan Development Corporation of Westchester County plans to redevelop two vacant, multi-story industrial buildings that were part of the Endicott-Johnson Corporation industrial complex. The $29 million Century Sunrise redevelopment project, located at 135-139 Baldwin St. in the village of Johnson City, is a mixed income, mixed-use project, the Agency for […]
JOHNSON CITY, N.Y. — The Regan Development Corporation of Westchester County plans to redevelop two vacant, multi-story industrial buildings that were part of the Endicott-Johnson Corporation industrial complex.
The $29 million Century Sunrise redevelopment project, located at 135-139 Baldwin St. in the village of Johnson City, is a mixed income, mixed-use project, the Agency for Economic Development said in a Thursday news release.
The Agency is the rebranded name of the Broome County Industrial Development Agency (IDA). Its board of directors oversees both the IDA, or the Industrial Development Agency, and the LDC, or the Broome County Local Development Corporation.
The Johnson City project includes 104 residential units and a 3,500-square-foot, multi-level restaurant with garden space.
The residential units will include apartments that range from one to three bedrooms.
Regan Development plans to use federal and state housing credits, historic tax credits, and community development block grant disaster-relief funds to help finance the project, according to the Agency’s news release.
The developer is also requesting $1.3 million from the Southern Tier regional economic-development council to help with the project financing.
The project will create more than 140 construction jobs about 20 or more permanent jobs between its housing and commercial components, the Agency said.
The need
The project will “transform a historically significant” industrial shoe factory into a “vibrant neighborhood asset,” the Agency said in the release.
Endicott-Johnson at one time was the “largest producer of footwear in the U.S.,” operating dozens of factories in and around the region, it stated.
The site is located near UHS Wilson Medical Center, one of the area’s largest employers, and near the future site of the Binghamton University School of Pharmacy & Pharmaceutical Sciences.
By 2018, the new pharmacy school will attract 300 undergraduate and 60 graduate students and its employees, “creating a need for nearby housing and commercial space,” the Agency said.
“We are very pleased to lend our redevelopment expertise to the Village of Johnson City and Town of Union to bring these historic Endicott-Johnson buildings back to their former glory,” Larry Regan, president of Regan Development Corp., said in the Agency’s news release. “By adaptively revitalizing these buildings with residential and commercial mixed uses, our hope is to add to the community’s vision of creating a vital downtown 24/7 neighborhood in the heart of Johnson City. Our hope is that many of the employees of UHS [Wilson] Medical Center and other local employers will seek to live close to where they work. With the addition of new residents living in the downtown core, they will provide the economic boost of walking to shopping and restaurants, further improving the economic future of Johnson City.”
Ardsley, New York–based Regan Development Corp. is a family-run business that has developed more than $384 million in residential and commercial real estate and affordable-housing developments throughout New York, New Jersey, and Connecticut.
Contact Reinhardt at ereinhardt@cnybj.com