Binghamton, NY (WBNG Binghamton) The Broome County Land Bank Corporation Board of Directors accepted a proposal Tuesday for the redevelopment of 50 Front St.
It was originally a hotel and later a senior living facility.
The building has been vacant since 2011 and was acquired by the BCLBC in March.
Representatives from Newman Development Group, LLC presented a proposal to redevelop the site into a mixed-use residential, retail and office space building. The proposal suggests that up to 125 apartments targeting young professionals, empty nesters or individuals seeking urban living could be constructed.
"We formed the Broome County Land Bank last year in order to address blighted properties such as 50 Front St. in the City of Binghamton," said County Legislature Chairman Jerry Marinich. "I'm pleased we've received a proposal that will remove this eyesore from the neighborhood and appreciate that a local company has stepped up to the plate to do it."
Newman Development Group, LLC was the only respondent to the RFP issued in April. The BCLBC Board anticipates a decision on the selection of Newman Development Group, LLC as the preferred developer at a regular Board meeting scheduled for Tuesday, May 27.