Developer: Work on Court Street Building May Start in Summer
Planning for a new commercial and residential building to fill a vacant parcel in the center of downtown Binghamton is moving forward.
Developer Mark Yonaty said "we've had some hurdles" but he is continuing to work on the project that's planned at the corner of Court and State streets.
Speaking on WNBF Radio's Binghamton Now program, Yonaty said he now believes some work on the property could begin this summer.
The site has been vacant since the city ordered the demolition of the old Ross Building more than a decade ago.
Yonaty submitted his original proposal for the project to the city five years ago. He said several factors have slowed progress toward getting construction started.
Plans for the building have been revised a couple of times. He said a five- or six-story structure is to be constructed at the site, which has been owned by the city since 2007.
Yonaty said he still expects a local financial institution will be the anchor tenant in the building. The structure also could have some professional offices and 20 apartments on the four upper floors.
Yonaty said he now expects the total project cost will be between $4.5 million and $5 million.
Contact WNBF News reporter Bob Joseph: firstname.lastname@example.org
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