New Home Construction Proposed for Four Vacant Lots in Binghamton’s First Ward

BINGHAMTON, N.Y. (WBNG) -- Binghamton Mayor Jared Kraham announced plans to sell four vacant City-owned lots in the First Ward to Community Asset Preservation Corporation, or CAPC, for the development of single-family homes for income-eligible first-time homebuyers.

The City plans to sell the following lots to CAPC for $1 each: 25 Lydia St., 29 Lydia St., 60 Dickinson St. and 199 Murray St.

CAPC plans to build six single-family homes on the four lots.

The organization is aiming to pursue funding through New York State’s Block by Block Program, which provides developers up to $300,000 for the construction of a single-family home or $400,000 for the construction of a two-family home, to facilitate the construction.

Properties in the Block by Block program must be sold to households making 60 percent of the area median income or less.

Legislation on the sale of the properties was introduced at Monday’s City Council work session.