News Tidbits 7/9/16: Land Ho

9 07 2016

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1. Starting off this week, a couple of new pieces regarding Ithaca’s waterfront. First, the city’s chances of picking up some prime waterfront real estate at a low, low price are gone, though not any fault of their own. Readers might recall that back in late May, the properties were about to be foreclosed on for unpaid taxes, and the county was discussing selling the parcels, worth over $630,000, to the city if the city paid off the $42,844 tax bill. Pretty sweet deal for the city, right?

But the owner, an LLC that has held the parcels since the late 1990s, managed to pay off the tax bill and an attached penalty fee, which means they get to keep the land. So, if the city had any plans for those parcels, they’ll be filing those away for a long while.

2. However, it looks like several properties are being put up for the sale in the city’s West End near the Waterfront. Local realtor Brent Katzmann has four properties listed – 321 N Fulton, a duplex on 0.11 acres for $144,800; 319 N Fulton, a single family on 0.04 acres for $109,875; 626 W Buffalo, a single family on a narrow and deep 0.15 acre lot, for $124,999; and 622 W Buffalo, a duplex on a narrow and deep 0.19 acre lot, for $134,800. The prices generally run at or up to 10% over the tax-assessed value ($130,000/$100,000/$125,000/$125,000). The currently owner is a Long Island-based LLC, led by a pair of New York City real estate lawyers, who acquired the properties from 2010-2012. Prior to them, many of the properties have been through a merry-go-round of owners over the past 10-15 years.

The properties are in fair to rough shape, and the marketing tactic being used isn’t renovation, but rather development potential. The four properties all fall within WEDZ-1a zoning, which is the city’s attempt at encouraging development on the West End. WEDZ-1a permits residential, commercial and mixed-use 2-5 story buildings, 90% lot coverage (100% if less than 50 feet on two sides – the Buffalo parcels and 319 N Fulton), and no parking requirement. The properties are not affected by the city’s TM-PUD.

The West Buffalo lots could be tough since the house in-between is owned by someone else, but deep lots and the corner of North Fulton and West Court offer some potential. Worth keeping an eye on, if only to see who they sell to.

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3. One less homebuilder around. Avalon Homes is closing up shop. The Ithaca-based company is selling off its lots and trying to wrap up the homes they have underway. Rumors abound as to why, but if firm, verifiable information can be obtained, there will be more to follow.

Avalon made its name doing stick-built built, with a focus on affordability and green construction. Avalon, a certified Living Wage employer, was the general contractor for INHS’s Holly Creek townhomes (shown above), and employed at least a dozen back in 2010.

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4. The Planning Board and the Ithaca Landmarks Preservation Commission will be conducting another joint meeting on Tuesday the 12th at 5:30 regarding the Travis Hyde Properties’ proposal for the Old Library. HOLT Architects responded to comments from the ILPC at its last meeting that the design needed to be “quiet” by submitting the revised elevations seen below.

Mission accomplished? Armchair architect comment here, but the revised design is too far the other way. There’s a joke about the color beige, coincidentally similar to the new brick, being an adjective for “dull, boring, indistinctive“. I like the previous design with its wood-like fiber cement and characterful roofline, and I wonder if perhaps a revised color palette of that design, with maybe a few less full-sized balconies, would be a happy medium.

5. As announced on city of Ithaca Mayor Svante Myrick’s Facebook page, the Namgyal Monastery Institute of Buddhist Studies will be the site of a library and museum of the Dalai Lamas, the first of its kind outside of Tibet. The facility would be located on the 28 acres Namgyal owns on South Hill at its Du Khor Choe Ling monastery complex. Architectural plans and costs are still being determined, but a quote from Ngawang Dhondup, administrator for Namgyal’s facility, says that it will be larger than Namgyal, which has been underway since 2007 and will be about 14,500 SF when completed.

All in all it’s a great feather in Ithaca’s cap, but two things to be a bit wary of moving forward are the reactions and possible opposition from neighbors to what will be a very high profile religious facility, and given geopolitical issues, the reception to the Library of the Dalai Lamas may not be so warm from some denizens of cosmopolitan Ithaca.

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6. Way back in 2010 and early 2011, when the BJ’s Wholesale club was proposed in Lansing, one of the components of the proposal was to build 12 units of senior housing on land north of the then-proposed store. The project also called for wetlands, walking trails and a bird sanctuary on the undeveloped portion of the 11-acre property. Developer Eric Goetzmann (Arrowhead Ventures/Triax Group) faced considerable opposition to the plan since it involved big box retail and was housing outside of the density corridor, but after the IDA initially voted the project down in December 2010, a revised application calling for a smaller PILOT was passed by the IDA in April 2011 (some of the logic being that the county was in a financial bind during the recession, and some increase in taxable property was better than none).

Well, the BJ’s was built and opened the following year, but the wetlands and housing have had a much longer slog. The U.S. Army Corps of Engineers in in charge of new wetland permits, and the process is a complex, arduous one (man-made wetlands are difficult to build, and the Army Corps would rather they be done right than done fast). Goetzmann teamed up with The Upper Susquehanna Coalition and The Wetland Trust to design the “Inland Salt Marsh Bank”, which was just approved by the Army Corps, and the final permits expected shortly. With the wetlands taken care of, Arrowhead can begin to look towards the housing component, which they plan to put forward later this year for a 2017 construction date. As part of these plans, they want a one-year extension on the legal construction start for the housing from the IDA. Given that Arrowhead has met the other criteria and can demonstrate proof of progress on the wetlands, this probably won’t face much opposition. But eventually, it looks as if the village of Lansing will finally get those 12 units of senior housing.

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7 It looks like the Biggs Parcel is officially listed for sale. Local realtor CJ DelVecchio was selected by the county to manage the listing for the 25.52 acres near Cayuga Medical Center. The asking price is $275,000. The land comes with a conservation easement on the northwest side due to its proximity to a stream, and the wetlands near the center would be tricky to work with, because wetlands typically can’t be developed unless new wetlands are created, which is not cheap or easy to do.

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Readers might remember that this parcel has quite a history behind it. Declared surplus land by Tompkins County, the county had set up a tentative deal for a 58-unit affordable housing complex on the property, but the deal fell through after the wetlands were discovered to cover more area than previously thought.

Neighbors, via the Indian Creek Neighborhood Association (ICNA), have tried to force the county to hold onto the land to keep it from being developed. One of the big sticking points had been whether or not the 25.5 acres would be taxable – the county isn’t especially concerned at this point if the land gets developed or not, but they have made it clear that they want to sell it to a private owner that will pay taxes. The problem is, proposals to preserve the land often dovetailed with plans to donate it to an organization like Finger Lakes Land Trust, which would render the property tax-exempt. The ICNA did end up making a closed bid for the property, but the offer was rejected.

A neighbor to the south did propose reconfiguring the property to preserve the woods and build cottages on his back lot – by adding the Biggs land, he could have built more units under the regulations of the cluster zoning. But the plan fell through due to “size and complexity”, according to the ICNA’s Linda Grace-Kobas.

The land had been valued at $340,000 before the discovery of the additional wetlands, and the revised 2016 assessment brings that down to $240,000.


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3 responses

9 07 2016
Fred

About Avalon, does that include its remodeling business, too?

9 07 2016
B. C.

I believe so.

12 11 2016
News Tidbits 11/12/16: Oof. | Ithacating in Cornell Heights

[…] Back in July, several West End properties owned by an out-of-area LLC hit the market. Now, at least one of them has sold. The duplex at 622 West Buffalo (blue in the map above) was […]

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