BINGHAMTON — The city of Binghamton has selected Newman Development Group, LLC of Vestal as the preferred developer for the improvements on the Collier Street parking garage.
Binghamton Mayor Richard David made the announcement in a news release posted Thursday on the city’s website.
Newman Development was the only respondent to the city’s request for proposal, which it issued in April, the city said in the news release.
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The improvements to the aging parking garage are part of an overall project that the city of Binghamton is calling, “Collier Street Commons.”
The parking garage is located at the corner of State and Hawley Streets in downtown Binghamton.
Newman Development made a presentation to city officials on June 2. The development company proposes redeveloping the site into a mixed-use residential, parking, and retail/commercial structure.
Newman Development’s proposal suggests expanding the parking facility with the addition of about 100 parking spots, two floors of commercial and retail space, and up to four floors of market-rate housing, the city said.
“The Collier Street Commons initiative is a visionary and significant endeavor that has the potential to transform a multiple-block section of downtown Binghamton by adding new market rate housing, creating new business opportunities and addressing the needs of a seriously dilapidated parking structure,” David said in the news release.
The Collier Street Commons project is proposed on city-owned land spanning about one acre at 69 Collier St., which is the site the current Collier Street parking garage.
Built in 1960, the garage is at the end of its useful life, the city said.
The structure needs an estimated $1.3 million in immediate repairs to extend its service just five more years, according to the city.
Newman Development is working with Endwell–based Delta Engineers, Architects, and Land Surveyors, P.C.; Kalamazoo, Mich.–based Carl Walker, Inc.; and Binghamton–based law firm Coughlin & Gerhart, LLP on the proposal.
Carl Walker is a parking consulting and engineering firm specializing in parking planning, functional design, structural engineering, parking-structure design, restoration, and operations studies.
The private developer is responsible for operating the housing and commercial components of the project, including attracting and leasing space to tenants, the city said.
Binghamton will submit a consolidated-funding application (CFA) for about $8 million in state funding available through New York’s Regional Economic Development Council system.
The Binghamton City Council approved a resolution in support of the application for CFA funding at Wednesday’s business meeting.
The city will also seek grants through the New York State Research and Development Authority (NYSERDA), it added.
Contact Reinhardt at ereinhardt@cnybj.com
