News Tidbits 10/4/14: Risky Business

4 10 2014

marriott_rev1_1

1. According to the IJ, Urgo Hotels finally has a construction company lined up for the long-awaited downtown Marriott hotel. The firm, William H. Lane Inc. out of Binghamton, is no stranger to the area, with previous work on Cornell and IC’s campuses. Construction would hopefully start in October and take place over a year or so; late 2015 would be great, but early 2016 seems more plausible. The journal article makes reference to the firm also being involved with a dorm expansion planned at Tompkins Cortland Community College (TC3) starting construction this fall; this is the first time I’ve heard anything about there being more dorms out in Dryden. I checked TC3’s news archives and found nothing, and I contacted their residential life but received no response. The main classroom building is undergoing renovation, so it could just be a typo on the Journal’s part.

With as many delays as the Marriott project has had, I won’t believe the hotel’s under construction until I see foundation work underway.

2. In economic news, a quickly-growing local company is applying for tax abatements to help fund its expansion. BinOptics of Lansing is based out of the Cornell Business Park over near the airport, at 9 Brown and 20 Thornwood Drive. According to their TCIDA tax abatement application, the abatement is to underwrite some of the cost for expanding in those two buildings, and adding a 2,800 sq ft clean room onto 9 Brown (BinOptics works in the manufacture and sale of optical and laser devices). The project is expected to cost $7.7 million, mostly on new equipment. On paper, it sounds promising; the 14 year-old company claims to have grown from about 50 to 143 employees in the past 3 years, 35 in the past year alone. They expect to add 91 more jobs over the next 3 years, of which the vast majority pay living wage. The abatement is for about $200k in mortgage and sales taxes, and a multi-million dollar abatement on property taxes (I’m not sure of the exact figure because it deviates from the TCIDA standard plan, but it is greater than the standard plan).

I’m not about to support or oppose this until I know how much the tax abatement is for, but the glassdoor reviews don’t bode well.

3. And now there are four – Integrated Acquisition and Development has pulled out of the Old Library competition. Its “Library Square” project had the most units, but was generally unloved by constituents. INHS dropped out of the running when it acquired the Neighborhood Pride grocery site a few months ago and decided to focus on thatThat leaves Travis Hyde’s proposal, Cornerstone Group, and the two favorites, DPI’s condo proposal, and Franklin/O’Shae’s reuse proposal. Both have ardent groups of supporters; as an observation, what DPI has in big name supporters, Franklin/O’Shae is counteracting with grassroots outreach. Both have their own merits, one promoting home ownership, the other ecological sensitivity.

Now comes the actual RFP (Request for Proposals). According to the county press release, it will include

“…detailed site plan, building design and floor plans; detailed cost and financial information, including the proposed financing for the project; certification of ability to close on acquisition (or lease) by a given date; verification of any agreement or memorandum of understanding with Lifelong (if a part of the project), and with any other parties committing to lease or own space in the building.  Among other recommended elements are any anticipated request for tax abatements or tax credits; strategies to manage parking demand; specific measures to reduce carbon footprint; and evidence of meeting with the City Landmarks Preservation Commission, and with City staff to assure that the project meets zoning and code requirements.”

The draft RFP is due to be reviewed at the November 7th meeting.

iad_libe_0414

4. The Ithaca Times is running a piece where shop owners on the 300 Block of East State are fretting about the loss of the municipal parking lot for the Hampton Inn project. Will the loss of adjacent parking be inconvenient? Sure, a little bit. This was also a block that historically (The Strand, 1916-1993) had a large theater occupying much of the site. Some of the shopkeeps and property owners are cautious and neutral about the parking changes and coming hotel, which is fair; one seems to think it will ruin their business. The same one who, although quoted that she’d support downtown residential projects, has also gone on the record for opposing the Carey Building addition, saying the addition was out of character. Hmm. Regardless, it will be logistically complex, but I think the end results will justify the nuisances.

hampton_rev2_2

5. On the other hand, the ever-increasing Commons delays are a serious, serious problem. I can’t claim to know much about the bidding process, but Vacri was the only one who bid for the third phase, came in well over budget. What Ithaca is getting is a watered-down, overpriced, much-delayed project that threatens downtown’s commercial vitality, which is really unfortunate. Michael Kuo, the Commons project manager, probably wants to crawl under a rock. I wouldn’t blame him for that.

6. The Belle Sherman Cottages project on the east side of Ithaca says that sales and prep work are underway for their townhomes. The townhomes will be built in 2 sets of 5 units, one set will have garages facing the front side (thumbs down) and the other will have garage doors in the back (thumbs up). All of the units are 2-bedrooms, 2.5 bath, and start at about $250k. That makes them a bit of a premium price in the Ithaca market, but they are new, and I have no doubt at least a couple of the units will be bought by deep-pocketed Cornellian parents who don’t want to worry about their little ivy leaguer paying rent. I know at least one townhouse unit has already sold.

Spring seems to be intended completion period, whether that’s for one set of 5 or both, I’m not sure. I’m going to guess that it depends on sales this fall.

belle_sherman_townhouses_1

7. In other town news, the planning board will be looking at plans to make Ithaca a little boozier. Local brewery Ithaca Beer plans to more than double the size of their current 16,000 sq ft brewery and restaurant with a 23,800 sq ft addition. The addition will house increased production and storage space, something that in the documents filed, the brewery claims in necessary to keep up with its “tremendous growth”. Its unknown how many jobs would be created by the expansion, although the paperwork implies there will be a sizable increase.

ithaca_beer_1

ithaca_beer_2

8. Over at the city’s design review board, the owners of the Rothschild’s Building (215 E. State) want to add another multi-pane window to the 1970s structure. I can comfortably say it’s an improvement.

rothschilds_1

9. Lastly, from the city’s planning committee comes intended start dates of several local projects. The Hotel Ithaca addition and convention center? Shooting for a November start. Also, Ithaca Gun will be an apartment complex.

holiday_inn_expansion_1


Actions

Information

6 responses

6 10 2014
Ex-Ithacan

I agree about the Rothchild’s building window, kind of balances things. Looking forward to quite a spate of construction in the city starting soon (I hope). While looking at the Building and Economic Development Committee agend for 10/8/14, I noticed the Hampton project was still listed as 6 stories vs the 7 in the revised proposal. Did the new height not get approved yet?

6 10 2014
Cornell PhD

I wonder what that new window is even for? The upstairs space in that building has been empty as long as I can remember. You’d think it could be used as a nice function space for the incoming Marriott or something…

I actually worry a number of projects will try to start at the same time, which might lead to more delays endangering them given the sparsity of available construction workers and high bids from the limited number of firms.

7 10 2014
B. C.

Rothschild’s is a problem case. The second floor was office space, leased by Tetra Tech until they moved out to Lansing four years ago:

http://www.ithaca.com/news/tetra-tech-relocating-from-downtown-to-research-park/article_b7f99d10-b776-11df-bbc6-001cc4c03286.html?mode=jqm

Unfortunately, finding other uses has been difficult to say the least. The owners considered residential, but it doesn’t lend itself well to that kind of conversion. A bowling alley was considered, and it had an IURA application submitted, but the project was withdrawn about a year ago. Since then, it’s been anyone’s guess.

That second paragraph is a very valid concern. In fact, 114 Catherine is hoping to start construction in January for a July completion, in order to cash in on lower labor costs before the other Collegetown projects start in earnest.

7 10 2014
B. C.

I’m willing to bet that when they typing up the notes, the 7-story version wasn’t presented yet. No worries, I think.

7 10 2014
Ex-Ithacan

You are correct. I looked at the agenda again and the project list is dated 9/8/14. That’s about a week before the updated Hmpton drawings came out. I guess I get too worried about this stuff (lol).

26 09 2015
News Tidbits 9/26/15: Trying to Keep Tabs | Ithacating in Cornell Heights

[…] given in the Binghamton Press & Sun Bulletin was a dormitory expansion at TC3. At the time, I had done a search for the project and filed an inquiry with TC3, but there was no response, and my s…. I assumed there was a miscommunication, […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




%d bloggers like this: