Binghamton, NY (WBNG Binghamton) Binghamton Mayor Richard David announced Tuesday the City has received three proposals to develop the vacant public lot at 70-72 Court Street downtown.
The proposals, submitted April 16 to the City’s Board of Contract and Supply, range from a three-story commercial office building to a 12-story mixed-use commercial, retail and loft-living housing project.
“Our goal is to put this property back on the tax rolls, create jobs and leverage private investment for this important downtown project,” said David. “I am very encouraged by the proposals, as each call for a multi-million dollar investment on this public site.”
The three bids to purchase the vacant lot were:
Eckberg, LLC — $50,000
Greater Binghamton Development, LLC — $75,000
Marchuska Productions, LLC — $1
David will also be seeking input from the new directors of both Economic Development and Planning, Housing and Community Development prior to making his selections.
“When I originally took steps to sell this public lot, I was optimistic the City would receive proposals that could transform this block of Downtown Binghamton,” said Mayor David. “I’m very pleased by the depth and diversity of these proposals, which are similar to mixed-use private development projects seen in growing cities across the nation.”
The property is zoned C-2 Downtown Business District for large retail stores, specialty shops and services, business services, financial institutions, offices, theaters, hotels, government buildings, and sports and entertainment facilities. Traffic count is estimated 7,000 cars per day.
After reviewing the proposals, City officials will forward the recommendations to City Council, which will also have an opportunity to interview the developers.
Mayor David assembled a team of City officials to review and evaluate the proposals, which includes Councilman Chris Papastrat, Executive Assistant to the Mayor Jared Kraham, Commissioner of Public Works Gary Holmes, Corporation Counsel Kenneth Frank, Assistant Director of Economic Development Joel Boyd and Acting Director of Planning, Housing and Community Development Jennifer Taylor.