(BINGHAMTON, N.Y.) — Mayor Richard C. David today kicked off demolition work at 435 State St. on the City’s North Side, the former Big Lots plaza.
“We’re tearing down an eyesore and creating a shovel-ready site in an important commercial corridor,” said Mayor David. “Demolishing blighted property is the first step in community redevelopment — it opens the door for new investment and revitalization. I thank Governor Cuomo and Senator Fred Akshar, who were instrumental in delivering the funds for this project to Binghamton.”
In addition to demolishing the 48,000 square-foot plaza, crews will remove asphalt, install construction fencing, seed the site and render it “shovel-ready” for future redevelopment.
The demolition clears the way for a planned $11 million affordable housing project spearheaded by the Binghamton Housing Authority and 3d Development Group, a private real estate firm. The four-story housing project would include commercial space on the first floor and a total of 48 one- and two-bedroom apartments on the upper floors.
The Binghamton Housing Authority and 3d Development are applying for tax credit financing from the New York State Division of Housing and Community Renewal to fund the project.
Earlier this year, the New York State Division of Housing and Community Renewal awarded $4.2 million in tax credits to the $11 million Crandall & North Street Revitalization Project, led by Mayor David and the First Ward Action Council.
Broome County sold 435 State St. to the City of Binghamton for $1 in 2015.
“The City was able to take action and implement a vision for this property when others could not,” said Mayor David. “We’re transforming a blighted piece of land that has sat vacant for too long into a true redevelopment opportunity.”
In January, Governor Andrew Cuomo announced a Restore New York grant award to the City of Binghamton of up to $534,000 for demolition of the plaza with a ten percent local match.
The total cost of demolition and site work is $400,288, paid for by $360,259 in Restore New York grant funding and $40,029 from the City’s general fund. Gorick Construction, of Binghamton, is performing the work.
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