Groundbreaking Set for $40 Million JC "Victory Lofts" Project

A project to develop 156 apartments at the site of a long-dormant Endicott Johnson factory is moving forward.

A groundbreaking ceremony for "The Victory Lofts" off Lester Avenue in Johnson City is to be held Thursday morning.

Paulus Development and LeChase Construction are working to renovate the massive 102-year-old factory site into a residential and commercial complex.

A view inside the Victory Building on August 25, 2021. (Photo: Bob Joseph/WNBF News)

Syracuse developer Matthew Paulus has said the site will have about 275,000 square feet of useable space.

Speaking on WNBF Radio's Binghamton Now program last November, Paulus said it would be "one of the biggest transformational projects in upstate New York."

Paulus said revised plans called for the creation of 156 apartments with 120 one-bedroom units and 36 with a two-bedroom configuration.

A rendering of The Victory Lofts provided by Paulus Development

Apartments would be located on the second, third and fourth floors of the old factory building. Commercial space is to be developed on the fifth floor. Parking would be on the first level of the site.

When the project was announced in late 2020, its cost was estimated at $30 million. But the price was revised upward in recent months.

The north side of the former Endicott Johnson building at 59 Lester Avenue. (Photo: Bob Joseph/WNBF News)

An announcement for the groundbreaking event said the "historic rehabilitation of the EJ Victory Building will revitalize an iconic 'anchor asset' and improve the connection between Binghamton University’s Health Sciences Campus, UHS Hospital and the area to the north of Main Street in Johnson City."

Workers have been busy at the site since last summer doing preliminary work to prepare for major construction operations.

A state government sign posted on the old Victory Factory on February 24, 2022. (Photo: Bob Joseph/WNBF News)

WATCH: A visit to the site of the Johnson City project.

Enter your number to get our free mobile app

Contact WNBF News reporter Bob Joseph: bob@wnbf.com. For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.

15 Iconic Retail Stores That Don't Exist Anymore (But We Totally Miss Shopping At)

LOOK: Here is the richest town in each state

Just saying the names of these towns immediately conjures up images of grand mansions, luxury cars, and ritzy restaurants. Read on to see which town in your home state took the title of the richest location and which place had the highest median income in the country. Who knows—your hometown might even be on this list.