State: $20M Greater Binghamton Fund to pay for 32 projects

BINGHAMTON, N.Y. — The $20 million Greater Binghamton Fund has awarded money to help pay for 32 projects in Binghamton, Johnson City and Endicott.

The initiative will facilitate “key” economic-development projects as outlined in the “Southern Tier Soaring” Upstate Revitalization Initiative plan, the office of Gov. Andrew Cuomo said in a Tuesday news release announcing the projects. Cuomo first announced the initiative in August 2017.

The Greater Binghamton Fund focuses on targeted urban centers, or “iDistricts,” that can become “communities where the next generation of workers want to live, work, and play.”

The fund will support “innovative and creative” projects, including mixed-use and mixed-income developments; private retail and commercial development; and “smart-growth technologies will be implemented through infrastructure and streetscape improvements.”

The Southern Tier Regional Economic Development Council solicited public input through a series of events, including community meetings in each “iDistrict,” industry focus groups, stakeholder meetings, and “advice and guidance” of the regional economic-development council’s Greater Binghamton work group. Broome County Executive Jason Garnar and Binghamton University chief of staff Terry Kane lead that work group, per the release.

Combined, the projects that the Greater Binghamton Fund is supporting will include 139,000 square feet of renovated or new commercial space, 12 streetscape or public-realm projects, the renovation of four “historically significant” properties, 30 public art installations, three demolitions, 20 façade renovations, the “adaptive reuse” of nine vacant buildings, and the construction of 145 new affordable and market-rate housing units.

Altogether, the initiative represents a combined $80.3 million in both public and private investment, Cuomo’s office said.

Binghamton projects

The projects include the construction of a five-story, mixed-use development at 70-72 Court St. that will involve commercial space on the ground floor with residential units above. The Greater Binghamton Fund is providing $500,000 to help pay for the total project cost of $4,750,000.

The fund is also providing $500,000 for the “complete renovation” of the Kenmore building into 26 modern studio apartments with a new elevator in a project with a total cost of more than $2.5 million.

The Binghamton projects also include a downtown entertainment and cultural organizations district. It’ll focus on “existing arts anchors, creating dynamic public spaces and streetscapes, and redeveloping existing properties aimed at attracting new residents, businesses, artists and art patrons to downtown Binghamton.” The Greater Binghamton Fund is awarding more than $1.7 million to help pay for the total project cost of more than $3.6 million.

Endicott projects

The Greater Binghamton Fund is also awarding nearly $1.6 million for the nearly $8 million Endicott Hotel project. It calls for the demolition of the deteriorating Endicott Inn, which will be replaced with a 76-room hotel and conference center that will “serve as a gateway to the Endicott iDistrict.”

Henry B. Endicott School redevelopment project will include the adaptive reuse of the former school into a residential development called Endicott Square. It will feature 71 affordable housing units, targeting families with incomes at or below 60 percent of the area median income. The fund has awarded $3 million to help pay for the nearly $24 million project.

The Greater Binghamton Fund also awarded more than $450,000 for a $1.3 million project involving the Huron Campus advanced-manufacturing hub. The first component involves the acquisition and demolition of two existing buildings to construct a new corporate entrance on the north side of the industrial park. The second piece calls for the partial demolition of two north campus buildings and the cleanup and repurposing of the space for future tenants.

Johnson City projects

The Johnson City projects include the expansion of AgZeit, LLC, an indoor agriculture startup company in a project called Southern Tier Ag Revitalization Transformation, or START.

The company grows organic produce year-round. The firm will buy two properties in order to expand its growing operations to serve the Johnson City and Endicott iDistricts.

The Greater Binghamton Fund is providing nearly $2 million for the $11.7 million project.

The fund is also awarding more than $514,000 for a $591,000 project involving the Johnson City rail trail. The project focuses on the “underutilized” Norfolk-Southern railroad spur into a multi-modal trail.

Another project calls for the creation of six Wi-Fi hot spots at public parks and bus stops throughout the Johnson City iDistrict where anyone with a smart phone or device could access the internet at no charge. The Greater Binghamton Fund is providing about $65,000 of the total project cost of more than $75,000.

Contact Reinhardt at ereinhardt@cnybj.com