Maplewood Redevelopment Construction Update, 6/2018

15 06 2018

There was an interesting story going around that Maplewood was in serious trouble due to water pressure issues, to the point where its ability to legally house its residents was at risk (no water pressure would have made for a hazardous fire risk). That would have been a huge story had it panned out, but a little bit of checking with the town of Ithaca codes department and the development team turned up no dire situations unfolding, all is going as planned (a welcome change given all the weather and contractor issues that have plagued the project’s tight work schedule so far). There was some worry about water pressure back when the project was first proposed, which is why a new 600,000 gallon water tower is going up on Hungerford Hill Road.

It’s a little sad to see the French Lavender florist and gift shop is closing down after eleven years. It’s not clear if it’s related to construction, or if the timing was coincidental. Coal Yard Cafe was doing a brisk mid-day business at the opposite end of the Maplewood site. With 872 new residents expected by the end of the summer, the site will have appeal to retailers and service providers.

For project background and planning, click here.

For a site plan breakdown, click here.

For a construction timeline, click here.

Webcam link 1 here (updated ~15 minutes).

Webcam link 2 here (updated ~15 minutes).





News Tidbits 6/9/2018

9 06 2018

1. Let’s start off with some eye candy. Behold, the latest and probably last major revisions to Modern Living Rental’s planned apartment complex at 802 Dryden Road. We also have a name for the 42-unit apartment complex to be built there – “Ivy Ridge“. This latest design received a little bit of STREAM’s touch to complement the work previously undertaken by John Snyder Architects. The six building are generally but not exactly the same – the gables are mirrored, some additional trim piece are used on the gables for the Dryden Road pair, and they alternate between a dark blue vertical fiber cement panel (probably HardieBoard), and a dark green panel (it’s a little sad they reworked the profiles and did away with the visually interesting mix of hipped and gabled roofs). Units were downsized about 35 square-feet per unit per floor, and overall the town planner thought the buildings looked “a lot more friendly”. Some more renders can be found here. Units are a mix of 24 2-bedrooms, 12 3-bedrooms and six 4-bedrooms, for a total of 108 bedrooms.

There’s a little bit of pre-building infrastructure work that needs to take place, because this is a sort of no man’s land between the settled parts of the town of Ithaca and the town of Dryden where no municipal water service was available. The public water main will be extended to service the project, and the main will be deeded over to the town. This will go under Dryden Road, so the DOT is in the loop. The planned buildout is August 2018 – August 2019.

2. Staying in Dryden for the moment, a bit eastward to Varna – I have not spoken to a single person who thought highly of Trinitas first swing at the Lucente property on Dryden and Mount Pleasant Roads. The building scale seems okay for Varna’s core, and the Varna Plan actually okays this kind of layout and says the community was comfortable with it on arguably a smaller overall project scale, something that caught me by surprise when I did my writeup for the Voice. The issue is that it’s a lot to see at once, and it makes me wonder if Trinitas really had its eyes open and ears listening and just went forward anyway, or if they were caught off guard. After swings and misses in Ann Arbor and Ames, I’d hope Trinitas would be a little more cautious.

This is asking a lot of Dryden, 224 units with 663 beds at the moment. However, I’m doubtful a moratorium is the answer. I think there is potential to have more conversations if both sides are willing to talk, and Trinitas should be firmly aware that this plan is not likely to go through as currently proposed. I don’t know what the financial statement looks like here, but elsewhere Trinitas has tried (if unsuccessfully) with incorporating affordable housing with its market-rate units, and they also do have projects that seem more like the Varna Plan’s thoughts for that parcel, like their Pullman project, which is a combination of townhouse strings and duplex buildings. The town of Ithaca and EdR agreed to have EdR fund local road improvements as part of the Maplewood project, so that’s another idea.

One of the reasons cited for a potential moratorium in Dryden is the need to balance the rental development with for-sale housing. It is very tough to effectively encourage owner-occupied housing at a price range affordable to middle-income households. For one, no tax breaks – state law says it is illegal for the IDA to give tax abatements to owner-occupied developments (for-sale homes, condos). Building codes and complicated condo rules drive up housing costs and make existing state subsidies for affordable for-sale ineffective, and for-sale housing is seen with greater uncertainty by lenders (there are more people able and willing to rent than to buy, especially in a college-centric community). It’s difficult! That’s why the county’s Housing Committee is keenly focused on trying to come up with solutions. There’s a fantastic senior research project by newly-minted Cornell graduate Adam Bronfin that looks at the condo problem in excellent detail, and a PDF of that study can be found here.

The other suggestion, making rental housing more difficult to do, comes with its own perils – namely, by cutting off the supply while demand continues to grow, you force out lower-income households in an attempt of trying to limit the student rentals. There is conceptual discussion of affordable for-sale and rental mixes (similar to Trumansburg’s Hamilton Square) being talked about east of Varna, and it would be really unfortunate if a town law gets drafted up that inadvertently but effectively prevents those kind of projects from happening.

Another risk is that strictly limiting development in Varna only encourages it on rural parcels to the east, or even in Cortland County, promoting sprawl and its detrimental environmental impacts (tax burden of new infrastructure, traffic, additional commuter burden on the Freese Road Bridge, loss of farms and natural space to low-density housing, etc). One can push laws that prohibit students either through zoning, but smaller mom-and-pop landlords may feel the pain and it might get argued in court as an illegal attempt at “spot zoning”.

The TL;DR is that there is no easy answer, but the county is trying. Since it’s so difficult on the brand new side, the county is looking at incentives to encourage renovation of existing rental housing into for-sale units, which would need state approval.

Lastly, I don’t really understand the argument that tacitly advocates for capping Varna’s population. The sewer is a limit, but more capacity could be negotiated if necessary or prudent. The argument over Varna should be focused on quality of new additions, not an argument that the Sierra Club rejected because of its association with racial and income-based eugenics.

3. Surprise, surprise. An infill project in Fall Creek has been revived three and a half years after it was approved. The project calls for five rental buildings, three single-family homes and a duplex. The developer is Heritage Homes, led by Ron Ronsvalle; Ronsvalle was badly injured in an accident, and the injuries left him paralyzed and unable to use his limbs; he is reliant on assistance and voice commands. It was a shame as the project been heralded as a successful example of meeting with neighbors and redesigning a plan to address their concerns; didn’t win over everyone, but a lot of them were satisfied with the approved February 2015 plan. As the letter from project architect/engineer Larry Fabbroni states, “certain life events prevented the owner from resuming full business activities until a support system was running smoothly.”

With a support system in place, Ronsvalle intends to move forward with the approved plan. The project does have to go back before the Planning Board and Zoning Board of Approvals because approvals expire after two years (i.e. February 2017). With nothing changed, the project is likely to sail through re-approval.

The revised SPR states $665,000 in hard costs with a construction period of August 2018 to August 2020 – basically, a couple homes in year one, and a couple in year two.

4. This is rather odd, but in Northside, there seems to be a push for a moratorium because they’re unhappy with the possibility of multiple primary structures on a single lot, which is what local developer David Barken is proposing with the lot consolidation and addition of a two-family home at the rear of 207 and 209 First Street. The concerns cited are similar to South Hill’s, loss of character and increases in density, and came up during the marathon public comment period at the last Common Council meeting.

This seems…baffling? South Hill’s made sense because of the high number of student rentals being built, which was leading to major quality of life issues. Northside doesn’t have that issue, it’s too far from the Cornell and Ithaca College campuses. For evidence, here’s the Cornell map of where students live, taken from their 2016 housing study. A handful of grad students live near the creek, but otherwise not much, and undergrads are virtually non-existent. It and West End and West Hill just tend to be too far away for students’ convenience.

To be honest, 207-209 First Street actually seems like a thoughtful project – similar to the Aurora Street pocket neighborhood by New Earth Living. The infill is scaled appropriately, it has features like the raised beds that enhance residents’ quality of life, and it doesn’t tear down existing housing. To my knowledge, there isn’t anything on the radar for Northside unless one counts Immaculate Conception in adjacent Washington Park being converted to housing at some point. It’s not clear what a moratorium or a South Hill-like overlay would achieve here. If anything, students aren’t the risk for Northside – the risk is gentrification spilling over from Fall Creek. This would encourage that, so…this is counterproductive.

5. With the contentious 309 College Avenue / No. 9 fire station debate having met its dramatic conclusion, this render of a proposed redevelopment has been released by its owners. It would appear that the plaza and newer west (front) wing has its exterior walls retained while the rest of the structure is removed, a facadectomy. One could argue this is better than Visum’s plans because it saves large portions of the original structure, vs. the complete removal in Visum’s first version, and emulation of elements in the second. This iteration has decorative roof elements, arched windows in the shape of the fire engine bay doors, and a dumbbell shape characteristic of New York City “Old Law Tenement” buildings built in the late 1800s. The armchair architecture critic typing here would ask for elements of visual interest in the blank walls of the addition, but overall this looks like a good first swing. This is probably intended as first-floor commercial restaurant/retail with apartments above. No architect is listed with the sketch.





News Tidbits 5/14/18

15 05 2018

1. Let’s start off with the new entrant to the Ithaca development scene – Trinitas Ventures. The Indiana-based firm is scouting out Varna for a potentially large rental project geared towards students (but, to be clear, open to anyone).

I’ve already filed my report, and unfortunately will not be at the open house this Monday (there was initial confusion over what say it was, so I’m honestly not sure any reporter made it). Trinitas appears to do everything from multi-story mixed-use urban living to more suburban duplexes and townhouse strings. To be frank, for Varna, they’d be better off going with the latter for size and scale. There’s this running joke among Ithaca developers that Varna is the next frontier for development, but only recently has there been much movement in that direction, and even then, it’s a ‘tread with caution’ approach. Recall the struggles of Varna II and 902 Dryden.

According to the town of Dryden planning board minutes posted after my article, the Lucentes’ vacant Varna II lands are the proposed site for Trinitas project (and which they likely already have a purchasing option on). From their portfolio, their independently-developed project appear to be in the ballpark of 600-700 beds in 150-300 units. Even the more suburban properties look to be on 20 acres or less. A rough estimate of the old Varna II plan is 15+ acres. Most of it is Varna Hamlet Residential, with small amounts of Varna Hamlet Traditional Zoning and Varna Hamlet Mixed-Use. VHRD is 6 duplexes, 4 apartments or 11 townhouses per acre, with potential density bonuses for green energy or redevelopment. This means that if they do mixed-use retail/apartments along 366, and townhouses in the rear along Mount Pleasant Road, they’ve got the space they need for one of their projects. Through the off-record chatter I’m hearing 225 units, mid-600s for total number of beds.

On the bright side, at least they’re being transparent with the open house approach – Trinitas seems to have some awareness of community concerns (maybe after their Ann Arbor debacle), so we’ll see what they propose in a formal submission.

2. Moving to something smaller, the Ithaca Landmarks Preservation Commission is providing early guidance for a new apartment house at 204 Williams Street, on the west edge of Collegetown in the East Hill Historic District. Beyond the massing concepts (hipped vs gambrel roof), it looks like 14 bedrooms and perhaps four units, ostensibly geared towards students. Mid-sized Collegetown landlord Pam Johnston has owned the property since 2002, and she’s more of renovator than a developer, but this is unique – the original house burnt down in the 2000s, and the space has been an informal parking lot ever since. With rising land values, redevelopment looks like a better financial prospect. Historic design specialist Jason K. Demarest is in charge of design for the small infill project.

3. Caution light turned on. The Tompkins Center for History and Culture requested and received an extra $445,100 in appropriations, raising the county’s investment to $3,345,100. The extra cost is attributed to bids coming in over projections and additional design costs. The vote was 12-1 with Legislator Leslyn McBean-Clairborne voting no, but this is probably about as much as the county legislature and general public will be willing to accede without significant backlash or denial of funds.

The Legislature unanimously awarded construction contracts for the Tompkins Center improvement project to Marchuska Brothers Construction, LLC, of Endicott, for the General Work Contract ($561,000); Johnson Controls, Inc., of Rochester, for the Mechanical Contract ($502,638); and Richardson Brothers Electrical Contractors, Inc., of Ithaca, for the Electrical Contract $135,550). Marchuska is a fairly recent addition to the Ithaca area, and is finishing up a gut renovation of a manufacturing facility into medical offices in Lansing village.

4. Whether or not one approaches this with some election year political cynicism, the proposed $22 million expansion of the airport, largely funded by the state;s recently-announced $14.25 million grant, has significant potential to bolster the local economy. Given Ithaca’s relative isolation and definite distate for new highways, an expanded airport, sometime pushed by airlines rather than quixotic bureaucratic dreams, can help retain existing business and grow the leisure/hospitality trade. The announced move of the NYS DOT from its prime waterfront property to a vacant parcel next to the airport is an added bonus, because once they move, the space will be turned over to the county to do as it wishes – which in this case means an RFP for mixed-use development that could create over $40 million in new private investment, according to the 2015 study.

Plans call for the expansion to start construction this fall and open a year later, which sounds a bit ambitious. The expansion would likely have its environmental review conducted by the village of Lansing, which is not known for its haste or ease of process. Renders of the project (all interior) can be found here.

5. Going back to Varna – 1061 Dryden is for sale, blueprints and all. The asking price is a fairly optimistic $2 million – Gary Sloan, the current owner/developer paid $285,000 for the property in October 2015, which contains an existing home. To quote the ad:

“Shovel ready development site within 1.7 miles or 3 minutes from Cornell University Vet College! Very rare opportunity in the Ithaca area and already approved to build 36 Townhouses. Unit configuration; A Unit (12) 3 bedroom 2.5 baths One car garage. B unit (24) 2 Bedroom 2.5 Baths One car garage. Financial analysis are available to Qualified developers indicating a CAP rate of 7! Confidentially agreement required to obtain financial information on the development.”

CAP rate, or capitalization rate, is a measure to evaluate the potential return on investor for a real estate developer. It’s basically Net Operating Income / Property Asset Value. So if I make 50,000 a year in net operating income on a $1 million property, my cap rate is 5%. In general terms, higher cap rates mean high potential return, but are generally seen as indices of higher risk projects as well.

However, because different markets have different risks and amounts of risks, what is an acceptable cap rate in one area may not work in another. For office space for example, a cap rate of 3-4% in Los Angeles or New York would be sufficient, but for Phoenix it’s 6%, and Memphis 8%, because the stability and growth of the market isn’t as great. Also, CAP rates for multi-family properties are generally among the lowest in asset classes because they’re often the most stable. So CAP rate is a valuable indicator, but it doesn’t tell the whole story.

I hadn’t heard of any issues before this hit the market, and all the approvals are there. The town of Dryden was told not to expect construction to start on this 36-unit property for at least a year. Whether it actually happens is anyone’s guess.

6. Also new to the market this week, a commercial building with redevelopment potential. 622 Cascadilla Street is a one-story, 4.896 SF commercial building occupied by the upscale Zaza’s Cucina restaurant. It also sits in WEDZ-1b zoning, West End Mixed-Use, allowing for a second floor and 90% lot coverage.Nearby, several major projects are approved or in the concept stages, including West End Heights, City Harbor, and the Carpenter Business Park (Cayuga Med) development.

The property is assessed at $875,000, and its current owner, a Massachusetts-based businessman who has been controversial, has been steadily offloading his properties. Should the buyer look like something or someone interesting, expect a follow-up.

7. This is running rather late, but longtime local developer Rocco Lucente passed away earlier this year at the age of 88. The patriarch of the Lucente family of developers (Lucente Homes, later Lifestyle Properties), Lucente started in 1950 as a builder of modest homes and apartments – not ostentatious, but well-suited for Ithaca’s growing middle-class. While it may not have been as profitable per unit, it allowed Lucente to survive the local market crash of the late 1960s, when many of his competitors did not. Lucente also pioneered the idea of renting his newest houses out for a few years before selling them at higher prices thanks to tight supply and value appreciation. With over 700 homes and apartments to his name, much of Cayuga Heights and Northeast Ithaca exists because of Lucente Homes – the town dedicated a section of Briarwood Drive “Rocco Lucente Way” in 2014.

Lucente was not without his controversies, however – the last of his Northeast Ithaca subdivisions, the 47-lot Briarwood II, which was halted by the town over stormwater drainage concerns in the late 2000s, first via moratorium in 2006-07, and then in 2014 by SEQRA concerns and changes to best practices, which led to a lawsuit from Lucente that he lost. This is the forested space between Sapsucker Woods Road and Briarwood Drive.

I had a chance to speak with Rocco a couple of times in my work with the Voice (it started with the Village Solars), and I always found him to be engaged and animated, more than I’d expect for a gentleman of his age. He’d often extol the features of his properties, which I would respond with a polite laugh, because it wasn’t my place to sell them, but he was a businessman through and through. But generally, I found talking with him to be a pleasure. Rocco was a capable developer, working up until the end not out of need but for a love of the work. He will be missed.





118 College Avenue Construction Update, 4/2018

13 05 2018

Finally, clearing out the last of that late April photo stash. Not many here, but a new, small Collegetown project is underway at 118 College Avenue.

This is a Visum project, and probably their lowest profile plan. In fact, this one never even went through the sketch plan part of the city review process, the project team went straight to asking for the city planning to declare itself lead agency for environmental review in March 2017. Approval was a short time later as Ithaca goes, in May 2017. Building permits were issued this past winter.

It wasn’t a rash decision by any means – the project is largely similar to a previously-approved plan a few houses up at 126 College Avenue, and there is very little difference between the two properties in terms of context. They are both CR-4 zones allowing 4 floors and 45′ heights. The original 118 College Avenue was a two-story, early 20th century rental house with six bedrooms and marginal historic value, though I imagine the house was rather pretty before some unfortunate additions threw off its symmetry. The property was purchased by Red Door Rentals (Greg Mezey and Ryan Mitchell) in April 2014, transferred to another Mezey/Mitchell company, “MPB Capital LLC” in October 2017, and then to an LLC associated with Visum on the same day as the MPB Capital transfer. It seems plausible Ryan and Mitchell are project investors, with Visum as developer.

Plans call for a new 4-story, 45′ building on the sloped lot. With that slope, the basement is exposed on the west face, so it has the appearance of five floors from the rear and sides. A back of the envelope calculation says this building is about 9,000 SF. The roof hosts a 6′ architecturally-integrated mechanical screen; hides the mechanicals, but gives the apartment building an Italianate aesthetic. The building uses electric heat pumps and is designed to be net-zero energy compatible. The hard construction cost rings in $1.415 million, according to the SPR filing – it would be assessed at a substantially higher amount. Unabated taxes her, so while people may dislike Collegetown, projects like this help fill the city coffers.

There will be 5 apartment units with 28 bedrooms – 4 six-bedroom units, 1 four-bedroom unit on the basement level. The project comes with five new trees, lush landscaping for its small lot, an outdoor bike rack, screened trash area, and bike storage and mechanical rooms in the basement. Tenants with valid licenses will be given membership in Ithaca Carshare, to try and dissuade them from bringing personal vehicles. Not a surprise here, but college students are the intended market.

Only a couple minor changes occurred from start to finish – the window on the northeast face was replaced with a patterned trimboard to keep visual interest. The rooflines ware adjusted in the render below, but not the building plan, so we’ll see which is correct.

For materials, the basement-level will use stucco mixed with Sherwin-Williams “Sawdust” paint, the first level is a combination of Belden face brick (Belcrest) and S-W “Truepenny” fiber cement clapboards, more fiber cement clapboard on the mid-section in S-W “Overjoy“, trimboards, balcony trim and window casing colored S-W “Svelte Sage”, black window frames, stucco (in S-W “Favorite Tan”) with more fiber cement trim and frieze boards on the top level, and the pyramidal roof caps will be standing seam metal, Pac-Clad “Aged Copper”. Mix of materials, mix of colors – should stand out nicely.

Expect buildout to look similar to 210 Linden and The Lux – Amvic insulated concrete forms at the basement level, double-stud Huber ZIP panel plywood sheathing, scratch coats on the portion to be covered in stucco, perhaps wood furring to raise the exterior clapboard and prevent dampness, and probably Anderson windows. The project is expected to be complete by August – units are going for $950/bedroom, plus utilities. Pricey, but at least they allow large dogs.

Along with Visum and Red Door Rentals for this ride through the development process is STREAM Collaborative as the building and landscape architect. Since they’re GC at 210 Linden Avenue, Romig General Contractors may be the manager of the construction crew here as well.

 

 





The Lux (232-236 Dryden Road) Construction Update, 4/2018

3 05 2018

At the site of The Lux at 232-236 Dryden Road, framing continues on the new apartment buildings. I’m under the impression that, like the Ithaka Terraces project also designed by STREAM, these are thick double-stud exterior walls. Double-stud walls are built using two sets of wood stud walls used in the exterior frame, parallel to each other but spaced apart by about 5 inches. That space is then filled (if like STREAM’s other projects) with R39 densely-packed cellulose insulation. The result has its pros and cons. The cons are that it’s more expensive to build, and it reduces the interior space a little bit. The pro is that it’s very energy efficient, which comes in handy for a project trying to achieve net-zero energy use.

On top of that appears to be wood furring strips for the cladding. I think the white panels on the north side might be boards with some kind of waterproofing? The roof on 232 Dryden appears to have had underlayment applied, but no EPDM (synthetic rubber) or similar finish yet.

The Amvic ICF will be faced with grey stucco and a black brick veneer, while the upper levels will use LP SmartSide white and marigold yellow fiber cement lap siding. The reflective material is likely insulation that’s also intended to keep out the moisture from the exterior brick.

The top floor will be finished with fiber cement panels with LP SmartTrim laid out patterned to give some visual interest to the top of the structures. The windows are Anderson 100 series units with black frames, and what will be white casings. Still rough openings in some of the walls, and the balconies are just starting to get built on the west face. 236 Dryden has yet to be fully framed, but the roof trusses are underway.

In its March email blast, the developer, local firm Visum Development group, announced that the contest to design lounge, gym and study rooms was won by two graduate architecture students from Cornell – for that, they win $2500 and will have a lounge named after them. The winning designs are here. As of February, about half of the 207 bedrooms were leased.

The project did pay a quick visit to the planning board recently to ask if they would could have permission to not screen some of the rooftop utilities – though less attractive and meant as a cost efficiency, these are less visible parts of the roof per the diagrams provided to the city. I didn’t hear any issues with it, so I assume it was deemed acceptable by the board.





210 Linden Avenue Construction Update 4/2018

1 05 2018

Looks like the first stud walls are going up on the third floor of the four-story 210 Linden apartment project (note the basement is partially exposed). Quite a bit of progress from the excavated hole and foundation pad back in February. This is a wood-frame structure with Huber ZIP System plywood panel sheathing and, presumably if like the other Visum projects, Amvic insulated concrete forms at the basement level. ICFs are thermally insulated plastic blocks filled with concrete – they tend to be a more expensive approach, but they also tend to have a higher grade of insulation (higher R-value), making for a more energy-efficient structure, and Visum and its project architect (STREAM Collaborative) have an eye towards net-zero energy capability, meaning all energy consumed by this building comes from renewable sources. ZIP panels are an increasingly popular to the traditional plywood and housewrap method (and since the integrated water-resistive barrier on the ZIP panels is a vivid green, they’re hard to miss). The choice of ZIP panels vs. housewrap really boils down to a matter of preference by the project team; ZIP panels tend to be easier to install (lower labor cost), but more expensive as a product.

Although my October notes show that William H. Lane Inc. was the general contractor on file, it appears that Romig General Contractor is the firm on-site. Romig of Horseheads is not known locally for involvement with multi-family projects, but as partners in Jepsen Romig Development (now Jepsen Holdings Inc.), they’ve been involved with several luxury homes built around the county (Southwoods, South Pointe, etc.) and they state on their website that they’ve provided commercial services to the ScienCenter and the Cayuga Ridge supervised care facility.

Also notable is that it appears the asking price for rent on the four-bedroom units has come down a fair amount since their first advertisements in the fall, from $1250/bedroom to $950/bedroom. This may be anecdotal evidence of some slack in the Collegetown market, as Maplewood’s 872 beds enter and steadily get absorbed into the rental market mix.

Background information on the project and more renders can be found here.





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.