The Collegetown Boom Continues: The Plans for 302-306 College Avenue

30 10 2014

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I touched on this one in last week’s news updates, but now I have some images to go along with it. Plans brought forth by Avramis Real Estate and designed by Collegetown favorite Sharma Architecture show not one but two buildings, one 6 stories and one 4 stories. The sketch plan can be found here. The buildings are split up according to zoning – one occupies the 6-story MU-2 zone, the other the 4-story CR-4 zone. Neither requires parking, although a small amount is provided between the two structures.

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The buildings on the MU-2 portion consist of three older homes originally built around 1900-1920, and periodically updated to reflect a changing Collegetown, such as the bump-out in front of 306 College that houses Collegetown Liquor. Not exactly devoid of charm, but the alterations have been enough to compromise their historic value. These house 36 bedrooms.

The CR-4 portion has 4 homes, all late 1800s to early 1900s, and house 32 bedrooms. Once again, not without their charms, but pretty run down.

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The MU-2 building, called “304 College Avenue”, will house 64 apartments with 117 bedrooms. The CR-4 building will house 38 apartments with 85 bedrooms. So the site will see a net gain of 134 bedrooms (202-68).

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304 College almost doesn’t look like a Sharma to me.  The mosaic tiling is a feature that makes it stand out, although I personally am not the biggest fan. It’s boxy and bulky, but not offensive.

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Not much to say about the Catherine Street building, the design still has yet to be fully rendered. But it looks pretty standard for Jagat Sharma’s work, the Fontana Apartments or 211 Linden come to mind.





The De-Evolution of the Purity Project

29 10 2014

4-8-2013 252

I figured that so much has happened with this one, that it merited its own post.

When the Purity Project was first proposed in November 2012, it was something of a surprise, and a welcome one. Developers Bruce and Heather Lane were proposing a five-story apartment building on the site, with purity on the ground-level. A mid-rise mixed-use building for the historically overlooked West End of the city. It seemed like win-win, and another sign of Ithaca’s burgeoning residential growth.

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Then came the first downgrade. The apartment tower was gone, and the reasons weren’t explicitly stated at the time. In its place was a small second-story office addition of 2,600 sq ft. A disappointment, certainly. With some reservations (discussed in a great write-up by Jason at Ithaca Builds), the project was approved last December. The first phase, which was a renovation Purity’s customer service area, opened in May.

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No we have the third version, which is another scaling back of the proposal (they use the term “value engineered”, which are curse words in my book). There are no additions; the letter from the project engineers say it would be better characterized as “a gut renovation”. According to their study, the soil on site, which is lake sediment, compresses very easily, and is so difficult to build on that just about any addition would be cost-prohibitive. The extent and severity of the soil issue only became apparent when detailed analysis was being conducted for the next phases. The soils/foundation issue was also a major factor in dooming the apartment tower.

The latest iteration renovates the vacated western portion of the building for about 3,834 sq ft of office space (called “Cascadilla Corner”), which they anticipate being held by a tenant with 18-23 employees, according to the parking study. As someone that once worked in a 4,000 sq ft office with 20 others, that sounds about right to me. I do have concerns given Ithaca’s generally-lackluster office market, but the space is small enough that it’ll probably be easier to fill than the large floorplates once proposed by Harold’s Square.

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Here are the latest renders. At least the renovated space will be nicer than the industrial warehouse’s present form.





News Tidbits 10/25/14: It Seems Expensive Because It Is

25 10 2014

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1. I always appreciate it when people respond to my emails. On a whim, I emailed the realtor in charge of the Belle Sherman Cottages to see which ones were underway with sales, and what the time frame was. She forwarded the request to the developer, Toby Millman of Agora Homes and Development LLC, who wrote back to say that as of the 17th, the front-loading garages on lots 25-29 (render above) were being marketed, and three of the five have been sold. They are planning for an April 2015 completion for those five, with the modules being set into place next year (some site prep work may occur this fall). The five townhomes with the back-loading garages are not being marketed just yet. Who knows, with most of the homes being sold and several under construction, the entire project could be complete by the end of 2015.

2. Oh geez. An Irish-themed Hooters is coming to Ithaca. According to the Post-Standard, Tilted Kilt, a “Celtic-themed sports pub”, is looking at a restaurant for Ithaca. The Syracuse location due to open next month will be 7,000 sq ft, I expect an Ithaca location would be similarly-sized. The chain already has a location in Watertown, and has plans for a Utica restaurant as well. Basically, any city over 30,000 roughly within an hour’s radius of Syracuse. Here’s the chain’s website, featuring a woman preparing to make out with a hamburger. I’m sure the fratty frat boys at Cornell are getting excited. Placing bets on whether they go for Lansing or southwest Ithaca.

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3. Per the IJ, The developers of the Carey Building expansion are asking for a tax abatement from the city via the CIITAP application. A primer on CIITAP applications can be found here at the Ithaca Voice; a number of projects in the city’s “density district” have used them in recent years as a way to offset high development costs in downtown and West End. Recently, Jason Fane made news for pursuing a tax abatement via CIITAP for his project on East Clinton Street. The standard abatement is 7 years, with 90% of the increased value being offset in the first year. In this case,the building was assessed in 2014 at $475,000. The new construction will cost $4.7 million according to the IJ, but it says $1.6 million in the city’s site plan application; that gives us assessed values in year one of $945,000 if the IJ is right, or $635,000 if the SPR is still accurate. The abatement tapers off through the latter six years. As with Fane, I suspect Travis Hyde Companies is pursuing an abatement simply because they can, they meet the qualifications so carpe diem. The wide difference in the IJ and SPR numbers could be an indication of rapidly rising project costs. Regardless of reasoning, this definitely isn’t going to do the developers any favors when it comes to community relations.

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4. Maybe the Novarr interview in the Voice will have run by the time this runs; maybe it won’t. Just in case, straight from the developer himself, Phase III/Building 7, with its 247 units, is planned for a late 2015 construction start, with completion in the summer of 2017. It’s a long construction period; it’s also a very big building.

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5. From the Cornell Daily Sun, it’s expected that rents at Collegetown Crossing will be around $1,000, per month, per tenant. Students in Cornell’s Student Assembly aren’t exactly pleased, since that number far exceeds even what most Cornellians can afford (but don’t worry; with student population growth far outstripping supply, there’s enough demand for student rentals, even in the luxury segment, that this place will fill up to capacity as soon as it opens). Welcome to Ithaca’s severely under-supplied rental market; open your wallets wide, boys and girls.

It just occurred to me that since I wrote the enrollment column last year with 2012 numbers, I glanced at the 2014 numbers on the University Factbook. Now it’s 21,850, an increase of 426 students in 2 years, and in pace with the 2002-2012 period. 234 of that 426, 55%, were grad and professional students.

There are a number of factors for why it’s so expensive – land values in Collegetown are high, construction labor is expensive because Ithaca is off the beaten path, taxes are high, and the new Collegetown zoning doesn’t allow Lower to build out the rear portion as he initially intended, forcing him to keep the building’s rear flank at 4 floors instead of 6 (the zoning is also what allows him to build in the first place, since it removed the parking requirement).

Let me be clear. Unless something is done to reduce demand or increase supply, this will become the norm, and Cornell students of modest means will be placed in an increasingly precarious situation with the cost of housing. Just like the rest of Ithaca.

6. To wrap things up, here’s looking into the agenda of next week’s Planning Board meeting (and what will probably comprise my mid-week posts). Purity, The Canopy by Hilton, Chain Works, 114 Catherine, and the 15,700 sq ft retail building on the Wegmans pad site. Only the Wegmans parcel is up for final approval.

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114 Catherine comes to the board with one major change – the front entrance was moved from the corner to the middle of the front facade. Still 17 bedrooms in 3 units.

As for new projects coming up for sketch plan, we technically have three. As much as I was looking forward to it, Ithaca Gun is not one of them, but I’ll keep my fingers crossed for next month.

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The first is 402 S. Cayuga Street. Eagle-eyed readers will recognize this as INHS’s 4-unit townhome project.

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The second is Cornell – Upson Hall renovations. Cornell stuff is easy enough to find, they publish veritable novels about projects once they’re cleared by the Board of Trustees. Upson renovations sound like they’re mostly internal work with a facade update. I’m more interested in the proposed biomedical building they have yet to roll out designs for. The Upson renovation is supposed to cost $63 million, so maybe there are additions involved; the new biomedical building, $55 million. The firms involved look to be LTL Architects, Perkins+Will, and Thornton-Tomasetti. In other words, modern glass and steel box, looking for LEED Gold. No renders yet, but I’ll post ‘em when I see ‘em.

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The last of the trio is yet another Collegetown project – 302-306 College Avenue, an address which consists of the three architectural stunners above. I’ve been patiently waiting for a proposal here (though to be honest, I’m kinda partial to 302, second from the left). John Schroeder from the Planning Board has wanted a proposal here for years. They sit in an MU-2 zone – 6 floors, 80′, no parking required. All three are owned by the Avramis family, Collegetown’s third-largest property owners. More interestingly, rumor has it that the buildings they own contingent to 302 College on Catherine Street, which are CR-4 zoning (no parking, 4 floors), are involved as well. So this could be a fairly substantial project. My money is on Sharma Arch being involved, since they are Avramis Real Estate’s usual architect-of-choice. I figured that the M&T Bank on the 400 block would get torn down first, but this is no big surprise, the Avramises have been fairly active in redeveloping their properties.





Riots in Collegetown

14 10 2014
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Photo courtesy of the Cornell Daily Sun

Entry number five in the Collegetown history series.

***

There’s a lot to dislike about Collegetown. The litter, the students, the traffic, the students, the noise, the students. For as much value as it is to the city’s coffers, I’m willing to wager that a survey of 20 random Ithaca residents on the worst neighborhood in the city would turn up a near tie between Collegetown and specific sections of crime-plagued West Hill. To some, Collegetown could hardly be a worse place.

But it can; take for instance, student rioting.

Rioting could fall into two fairly broad categories – violent social commentary, or drunken idiocy. Syracuse can provide an example of the latter. Collegetown’s riot may be a little alcohol-infused (particularly the second one discussed here), but mostly they were the result of social unrest.

Today’s clock is rolling back to May 1972. That spring had been a long semester at Cornell. Carpenter Hall had been taken over a few weeks earlier, with students demanding that Cornell Aeronautical Lab stop government research (much of their research focused on defense and military concerns), that trustees with a hand in Gulf Oil force the company out of Portugal’s African colonies, and that the ROTC be permanently disbanded. The administration, then under President Dale Corson, said it was “prepared to talk and listen but not negotiate“. The protestors refused to budge, but stormed out to Day Hall when an injunction was about to be served.

May 11 started just like any other anti-war rally, with 200-300 students protesting in front of Day Hall at around 10 PM. But when they decided to march to Collegetown, things spiraled out of control. Several students went to the First National Bank on the corner of College and Dryden (the corner where the failed Green Cafe is now), smashed the windows, and tried to set the bank on fire with homemade torches. IPD responded to the rioters with tear gas. Eight protesters were arrested and two policemen sustained injuries, one of which was a broken leg. The rioters, dressed in Halloween masks and being in a destructive sort of mood, retreated to campus, where they smashed the windows of the Campus Store and Day Hall, to the tune of “Day Hall must fall” chants. They marched on to Barton because of its ROTC affiliation, smashing several more windows while Cornell police watched in their riot gear, but did not intervene. By 1:15 AM, the rioters called it a night and dispersed. The damage to Collegetown was estimated to be thousands of dollars, which would be in the tens of thousands when adjusted to 2014 values.

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Photo courtesy of the Cornell Daily Sun

Corson and his administration were none too amused, and vowed to prevent any recurrence with the help of the IPD. That vow would be tested two days later, at a student block party on College Avenue near its intersection with Catherine Street. The party had hundreds of attendees and had been well-publicized, but it lacked the necessary permits from the city (yes, even in the idyllic days of yore, there was red tape). Mayor Ed Conley, remembering the riots two days earlier, was not going to let it slide. The police were out by 6 PM and started to arrest students for minor infractions such as noise violations. The proverbial stick was poking the hornet’s nest, and Cornell’s provost tried to step in on the university’s behalf and offer up party space on campus. But students declined, and unrest began to boil over by 9:30 PM. The officers turned to tear gas to keep the street clear, which fomented the students and encouraged them to act out. Bottles, rocks and obscenities began to fly. Soon the battlefield had migrated up College Avenue, where IPD threw tear gas into buildings in an effort to gas out what they thought were unruly students taking refuge, but ending up gassing innocent bystanders as well. One store-owner accused the police of starting a fire with a canister thrown into his deli. The rioting continued to 2 AM, and resulted in 29 arrests, including 13 Cornell students. Accusations were thrown around about who started it and who did what damage, and a report some time afterward laid blame on the students, the IPD, the mayor and Cornell (so essentially, everyone was at fault). In retrospect, the May 13th episode was regarded as a giant mistake. The May 11th incident was still a flash point months afterward, a drug-infused example of organized crime per the district attorney and a witchhunt per the students.

Not to condone the drunken throngs losing their dinner on the sidewalk, but I suppose I’d rather put up with that than burning buildings and riot gear.





News Tidbits 10/10: Waiting For That Fall Slowdown

10 10 2014

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1. Well, this should be fun and exciting. 707 East Seneca, a vacated parcel that was put up for sale by the city, already has a potential development proposed. A sketch plan is due to head to the Ithaca Landmarks Preservation Council this month. It’s a small piece of real estate in a historic district, neither of those details beckons development opportunities. The property was offered for sale at $175k, which is $75k above assessed value, and is zoned to allow up to 4 housing units.

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2. Some additional documentation about 114 Catherine. Cover letter here, Site plan Review drawings here, and Site Plan Review forms and documentation here. Apparently they were reusing the Dryden South SPR and forgot to update the numbers; Sharma has so many projects going they can’t keep in track. About the only difference from the old renders to these new ones is the addition of narrow windows into the brick face of the front facade, and some cute cut-and-paste vegetation. According to the docs, the new 3-unit, 17-bedroom building will cost about $500,000 to build, and has a timeline of January 2015 to July 2015 (for August move-in, presumably). This is a key detail – developer Nick Lambrou wants his project done before projects like Collegetown Crossing, 327 Eddy and others start major work; bigger demand for construction workers will drive the labor costs up, so he’s trying to get his project completed before that happens. Look at it as an appetizer before the main course arrives.

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3. Next up, a few more details on Ithaca Beer Company, courtesy of its TCIDA application. Apparently, the construction on this project is supposed to start very soon – mid-November, for a May 2015 completion. A PDZ is very encompassing, and as close to carte blanche as town zoning gets. There’s not much the town needs to sign off on. And although winter construction is difficult, the foundation can be poured during the winter, given proper precautions. The cost of construction and new equipment will be approximately $7.2 million. The total cost of tax abatement requests (property, sales and mortgage) is about $350,000, most of that being in property tax. The addition is expected to create 22 new jobs (IBC currently employs 42), of which 18 look to be living wage. IBC has received tax incentives in the past and met or exceeded its obligations; I don’t see this application causing much fuss.

4. Normally, I don’t pay a whole lot of attention to Board of Public Works minutes; while important, public works aren’t exactly glamorous. But one thing caught my eye in the 9/22 minutes. It’s related to the Brindley Street bridge replacement, a one-lane bridge on a street you’d forget about if you weren’t explicitly looking for it. This line was included in the discussion of bridge options:

“Ben Weitzman has some very large plans for his parcel which is a very under
developed piece of property”

I think this is the Ben Weitsman of 132 Cherry Street? A branch of the Upstate Shredding metal scrapping company? I’m not sure if the plans are industrial or something else, there have been rumors of residential projects being considered in this area. It’s something to keep an eye on in the coming months.

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5. From the Cornell Daily Sun, looks like Cornell “Sesquicentennial Commemorative Grove” is complete. That was surprisingly quick. The formal dedication will be the Friday before Cornell’s Homecoming.

 

 





News Tidbits 10/4/14: Risky Business

4 10 2014

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1. According to the IJ, Urgo Hotels finally has a construction company lined up for the long-awaited downtown Marriott hotel. The firm, William H. Lane Inc. out of Binghamton, is no stranger to the area, with previous work on Cornell and IC’s campuses. Construction would hopefully start in October and take place over a year or so; late 2015 would be great, but early 2016 seems more plausible. The journal article makes reference to the firm also being involved with a dorm expansion planned at Tompkins Cortland Community College (TC3) starting construction this fall; this is the first time I’ve heard anything about there being more dorms out in Dryden. I checked TC3’s news archives and found nothing, and I contacted their residential life but received no response. The main classroom building is undergoing renovation, so it could just be a typo on the Journal’s part.

With as many delays as the Marriott project has had, I won’t believe the hotel’s under construction until I see foundation work underway.

2. In economic news, a quickly-growing local company is applying for tax abatements to help fund its expansion. BinOptics of Lansing is based out of the Cornell Business Park over near the airport, at 9 Brown and 20 Thornwood Drive. According to their TCIDA tax abatement application, the abatement is to underwrite some of the cost for expanding in those two buildings, and adding a 2,800 sq ft clean room onto 9 Brown (BinOptics works in the manufacture and sale of optical and laser devices). The project is expected to cost $7.7 million, mostly on new equipment. On paper, it sounds promising; the 14 year-old company claims to have grown from about 50 to 143 employees in the past 3 years, 35 in the past year alone. They expect to add 91 more jobs over the next 3 years, of which the vast majority pay living wage. The abatement is for about $200k in mortgage and sales taxes, and a multi-million dollar abatement on property taxes (I’m not sure of the exact figure because it deviates from the TCIDA standard plan, but it is greater than the standard plan).

I’m not about to support or oppose this until I know how much the tax abatement is for, but the glassdoor reviews don’t bode well.

3. And now there are four – Integrated Acquisition and Development has pulled out of the Old Library competition. Its “Library Square” project had the most units, but was generally unloved by constituents. INHS dropped out of the running when it acquired the Neighborhood Pride grocery site a few months ago and decided to focus on thatThat leaves Travis Hyde’s proposal, Cornerstone Group, and the two favorites, DPI’s condo proposal, and Franklin/O’Shae’s reuse proposal. Both have ardent groups of supporters; as an observation, what DPI has in big name supporters, Franklin/O’Shae is counteracting with grassroots outreach. Both have their own merits, one promoting home ownership, the other ecological sensitivity.

Now comes the actual RFP (Request for Proposals). According to the county press release, it will include

“…detailed site plan, building design and floor plans; detailed cost and financial information, including the proposed financing for the project; certification of ability to close on acquisition (or lease) by a given date; verification of any agreement or memorandum of understanding with Lifelong (if a part of the project), and with any other parties committing to lease or own space in the building.  Among other recommended elements are any anticipated request for tax abatements or tax credits; strategies to manage parking demand; specific measures to reduce carbon footprint; and evidence of meeting with the City Landmarks Preservation Commission, and with City staff to assure that the project meets zoning and code requirements.”

The draft RFP is due to be reviewed at the November 7th meeting.

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4. The Ithaca Times is running a piece where shop owners on the 300 Block of East State are fretting about the loss of the municipal parking lot for the Hampton Inn project. Will the loss of adjacent parking be inconvenient? Sure, a little bit. This was also a block that historically (The Strand, 1916-1993) had a large theater occupying much of the site. Some of the shopkeeps and property owners are cautious and neutral about the parking changes and coming hotel, which is fair; one seems to think it will ruin their business. The same one who, although quoted that she’d support downtown residential projects, has also gone on the record for opposing the Carey Building addition, saying the addition was out of character. Hmm. Regardless, it will be logistically complex, but I think the end results will justify the nuisances.

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5. On the other hand, the ever-increasing Commons delays are a serious, serious problem. I can’t claim to know much about the bidding process, but Vacri was the only one who bid for the third phase, came in well over budget. What Ithaca is getting is a watered-down, overpriced, much-delayed project that threatens downtown’s commercial vitality, which is really unfortunate. Michael Kuo, the Commons project manager, probably wants to crawl under a rock. I wouldn’t blame him for that.

6. The Belle Sherman Cottages project on the east side of Ithaca says that sales and prep work are underway for their townhomes. The townhomes will be built in 2 sets of 5 units, one set will have garages facing the front side (thumbs down) and the other will have garage doors in the back (thumbs up). All of the units are 2-bedrooms, 2.5 bath, and start at about $250k. That makes them a bit of a premium price in the Ithaca market, but they are new, and I have no doubt at least a couple of the units will be bought by deep-pocketed Cornellian parents who don’t want to worry about their little ivy leaguer paying rent. I know at least one townhouse unit has already sold.

Spring seems to be intended completion period, whether that’s for one set of 5 or both, I’m not sure. I’m going to guess that it depends on sales this fall.

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7. In other town news, the planning board will be looking at plans to make Ithaca a little boozier. Local brewery Ithaca Beer plans to more than double the size of their current 16,000 sq ft brewery and restaurant with a 23,800 sq ft addition. The addition will house increased production and storage space, something that in the documents filed, the brewery claims in necessary to keep up with its “tremendous growth”. Its unknown how many jobs would be created by the expansion, although the paperwork implies there will be a sizable increase.

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8. Over at the city’s design review board, the owners of the Rothschild’s Building (215 E. State) want to add another multi-pane window to the 1970s structure. I can comfortably say it’s an improvement.

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9. Lastly, from the city’s planning committee comes intended start dates of several local projects. The Hotel Ithaca addition and convention center? Shooting for a November start. Also, Ithaca Gun will be an apartment complex.

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News Tidbits 9/29/14: Thinking Inside the Box

29 09 2014

This is a little later than usual. I didn’t want to post anything before now was because I was hoping the Ithaca Gun sketch plan would be posted to the city website by Friday. It still has not, meaning that it either wasn’t discussed at the Planning Board meeting, or someone in city hall is taking their time with the uploads. My plan to write that up and get that out Friday while in Dulles airport was a no-go, and only now have I had the time to execute Plan B. So here we are.

1. Down in big box land, Wegman’s is planning yet another big box, with maybe a couple more to follow. The site plan dates from 1999, When Wegmans received approvals for three outparcels (satellite little boxes to their big box) with a total of ~36,000 sq ft of retail space. Wegmans wants to move forward on that plan, but change up the individual parcels (the completed total would still be 36,000 sq ft). The first phase is for a one-story, 15,700 sq ft building with 88 parking spaces, to be built on a section ot the current parking lot. Cover letter to the city here, Full Envrionmental Assessment Form (FEAF) here, Site Plan Review (SPR) application here, SPR renderings here, and color rendering here. The first building is planned for construction from April to October 2015, with an estimated $4,000,000 cost. Fake second floor? You got it. Cutesy little awnings and brackets to suggest Main Street USA imagery? You get that too.

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There’s a pretty good chance that, as Jason at IB covered this past spring, this is a new Wegmans-owned wine and liquor store, which they have at several of their NYS locations (for those unfamiliar with state law, grocery stores can’t sell wine or liquor, unless it’s a wholly separate part of a building with its own entrance, or it’s in another building completely).

2. Collegetown Crossing is finally, finally approved. Familiar readers will recall that this project has been held up for years due to its need for a parking variance under the old zoning plan. The new plan did away with the parking requirement, but since the building straddles two parcels with different form guidelines, part of the rear portion was reduced. With approvals in hand, developer Josh Lower can focus on getting financing and construction loans (being in Collegetown with its captive and lucrative rental market, that probably won’t be a big hurdle). Over time, the retail spaces on the first floor have been consolidated to three, a 3,200 sq ft small grocery store (a planned Greenstar branch) and two smaller spaces. 46 apartments with 96 bedrooms will fill out the second to sixth floors. The tentative opening of the store, and first occupancy for those apartments, is summer 2016 (July/August). 2015/2016 will see a lot of steel going up in Collegetown, with 327 Eddy and 205 Dryden on similar timeframes. To my pleasant surprise, a number of residents spoke in favor of the project, citing the appeal of a small grocery store in walking distance.

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3. One project moves forward, another bites the dust – NRP is calling off its Cayuga Trails development over on West Hill. Although the 58-unit project was opposed by neighbors due to concerns about traffic and for being lower-income housing, the reason the project is being called off has nothing to do with either of those. When the full environmental review was conducted, the wetlands on site are much larger than anyone anticipated, and developing wetlands is an extremely complicated and expensive process – they usually have to be replaced in order to get permission to build. Most developers, affordable or otherwise, will not touch wetlands because of the permissions process and high costs (this recently was an issue in Lansing because an undeveloped site being marketed for office space was found to be wetlands). So the project is halting and it is unlikely anything will be built on the site. Unfortunately, this also results in the county trying to rid itself of a parcel they don’t want and can’t be developed – not a great situation for their budget, but alas, not much they can do.

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4. Another setback, this one economic – Sears is closing its location up at the mall, putting 37 people out of work, including 13 long-term full timers. When it closes in December, 55,000 sq ft of big box space will hit the market. For those taking this as a sign that the economy is doomed, it’s not. Sears and its sister brand KMart have been dropping like flies all over the country, with several dozen closing in the past year. In Albany, the Sears store shrank by 50%, giving up space to expensive supermarket Whole Foods.

While Ithaca’s market is too small to be on Whole Foods’s radar, I’m not worried about the future of the space. 55,000 sq ft is middle-of-the-road for the big boxes, and like with the Ithaca Kmart that closed in 2011 and was replaced with Hobby Lobby, this has significant redevelopment potential. I’m no fan of suburban malls, but I like empty storefronts even less.

5. Here, let me stress that again – there are many issues in Ithaca’s market, but a weak economy is not one of them. At the moment. A 1.7% increase in jobs year-over-year is pretty good. I’m not happy that the gains were completely in education and healthcare, but since these are summer numbers, these are more likely to be full-time staff positions, rather than seasonal positions which are typically service-oriented (and lower-paying).

 








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