Ithacating in Cornell Heights

Just a quick update on the Carey Building addition at 314-320 East State Street in downtown Ithaca. As of the end of the month, structural steel has reached the top floor of the five-story addition, though it has yet to fully build out. The lower floors have been decked with corrugated sheet metal, and concrete floor pours might already be underway on the lower levels.

Paperwork filed with the county last Friday indicates that Tompkins Trust is providing the construction loan, with a value of $4,736,000, of which the very precise figure of $4,642,554.46 is going towards “hard” construction costs. Hard construction costs leave out legal fees, permit fees, and other costs not directly related to construction. The paperwork indicates a February 2017 completion date, but that’s more of a legal date than an actual date. The addition is likely to completed early next year.

The Carey Building addition will add a third floor and 4,200 SF to the Rev business incubator (nearly doubling it from 4,500 SF to 8,700 SF), and on floors 4-7, there will be 20 apartments, most of which are studios. Local firm Travis Hyde Companies is developing, John Snyder Architects penned the design, and LeChase Construction is the general contractor.