Under Construction: The once-vacant Plantations Building on Ithaca Commons is being renovated into 8 apartments, a small amount of office space, and a large restaurant on the first floor of the 5-story building. The project is funded partially by community grant money and will be complete in about a month.
Approved: The 6-story, 52-unit apartment building proposed by INHS (1), the 7-story, 45-unit Cayuga Place condos (2), and the 10-story, 140-room Hotel Ithaca (3) are attempting to find financing in what is still a tight market for construction loans. The INHS building is dependent on state grant money that was not granted last year, and they are hoping to obtain financing in the next round of grants. The Cayuga Place condos has been looking for more unit sales and securing bank financing for almost four years at this point, and it might be time to move that to a stale proposal.
Proposed: The 6-story Challenge Industries redevelopment proposal, which has some office space and 32 units of housing. The project is currently trying to win over the neighbors and councils for zoning variances and approval down the line.
Stale/Dead: McGraw House, a senior living facility, was looking into a 25-50 unit expansion, and held several meetings to discuss proposals on the table, but this has all been tabled until a future time.
Examining the Ithaca College Area:
Note that I don’t use Bing Maps because I like them more, but because they are more up-to-date. For example, IC’s virtually complete Athletics Center is clearly visible on this aerial image.
Under Construction are Ithaca’s College’s Circle Apartments expansion (in the site prep stage; four current buildings (132 units) will be demo’d and nine more (280 units) will be added to the complex) and a 22-unit addition of senior housing (patio homes) to Longview.
Approved are the College Crossings retail center and INHS’s Holly Creek townhomes (11 units in first phase, I think 22 total). Off the map to the south and southwest are a couple of housing developments, Southwoods and Cleveland Estates, which are being developed lot-by-lot.
The proposed facility is the long-term expansion plans for the South Hill Business Campus, which would add 197,000 sq ft in three new buildings 3-4 stories in height. The campus currently has about 288,000 sq ft, of which about 84% is leased.
The stale proposal is an apartment building off of Bella Vista Drive that has been trying to market its units for the better part of five years. I am doubtful it will ever launch construction at this point.