Chapter House / 406 Stewart Avenue Construction Update, 4/2018

30 04 2018

It’s hard to believe it’s been over three years now since the fire that decimated the Chapter House and the neighboring apartment house at 406 Stewart Avenue. According to a recent write-up by Mark Anbinder at 14850.com, the new build at 400-404 Stewart Avenue will host one eight units –  studio apartment, three 1-bedroom apartments, one 2-bedroom apartment, and three 3-bedroom apartments. The units are aiming for a summer occupancy, and CSP Management (Jerry Dietz and his team) are in charge of the rentals on behalf of developer/owner Jim Goldman.

From the outside, the building is practically complete, except for landscaping/paving, trim pieces, and facade installation of the ground-level bluestone veneer. The 4-unit, 11-bedroom apartment building next door is not as far along, with roof trusses only just being installed, and sheathing (ZIP panels) and window fittings underway on the lower floors. It’s a reasonable bet to say these will be available for their first tenants in time for the start of the new academic year in late August.

As fair as anyone’s aware, the ground-floor space restaurant/bar is still available for lease, at $35/SF (at 3,000 AF, that means $105,000 annually). Chapter House owner John Hoey has said in the comments here that the price is too high for his business. The possibility of a “Chapter II”, as some have dubbed it, seems increasingly remote. Any other potential lessees can contact David Huckle or August Monkemeyer at the Ithaca branch of Pyramid Brokerage.


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One response

2 05 2018
CS PhD

Well that’s sad to hear. Looks like this will be yet another blighted vacant storefront in Collegetown, kept empty by greedy landlords demanding unaffordably high rent.

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