$4.7M awarded to transform former Big Lots property into afforda - WBNG.com: Binghamton-area News, Weather, Sports

$4.7M awarded to transform former Big Lots property into affordable housing

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Rendering of 435 State St. Project - Photo provided by City of Binghamton Rendering of 435 State St. Project - Photo provided by City of Binghamton
Rendering of 435 State St. Project - Photo provided by City of Binghamton Rendering of 435 State St. Project - Photo provided by City of Binghamton

(WBNG) -- Governor Andrew Cuomo announced Thursday that nearly $17 million has been awarded to three affordable housing developments in the Southern Tier. He says the funding will create a total of 202 affordable homes. 

Governor Cuomo's office released the following information regarding the 435 State Street project in Binghamton:

"These 48 affordable homes will be constructed on a vacant Brownfield site in the North Chenango River Corridor Brownfield Opportunity Area, which is part of a local Waterfront Revitalization Plan Area that is experiencing significant redevelopment including an active neighborhood retail sector. It will include two Community Service Facilities occupied by Catholic Charities of Broome County Employment Program and Health Home Division, which will provide job training through a café or coffee bar to allow clients to receive hands-on experience interacting with the public. Encompass Health Home will also occupy the space and will provide services to Medicaid eligible adults and children with chronic medical and/or behavioral health conditions."

Binghamton Mayor Rich David released this statement Thursday: 

“We thank Governor Cuomo and Senator Fred Akshar for their support of this project. Our state partners have again believed in the City’s North Side revitalization efforts and have stepped up with significant resources. Our partners at 3d Development Group and Community Potential are ready to move this project forward. Their vision and behind-the-scenes work were critical to securing this funding.

For years, residents have voiced concern about the shortage of affordable housing options in Binghamton. I’ve made a commitment to focus on new affordable housing projects that provide safe, quality living environments for families. It’s the key to stabilizing neighborhoods and Binghamton’s continued revitalization.

This project will have a transformative impact on the City’s North Side, anchoring and supporting redevelopment on the State Street commercial corridor and beyond.

We’ve been working for years to get to this point - acquiring a tax-foreclosed property from Broome County, landing $534,000 in grant funds to demolish a blighted plaza and render it shovel ready, tackling environmental site issues and now finally securing tax credit financing to begin construction.”

The funding will also support a $7 million project in Corning and a $5.1 million project in Lansing.

For more information on Governor Cuomo's announcement, click here.

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