802 Dryden Road Construction Update, 5/2019

2 06 2019

Still clearing the photo cache. From the Voice, with the abridged photo set:

“Next to the Cornell Arboretum, the 42-unit, $7.5 million Ivy Ridge Townhomes are fully framed, and two of the townhouse strings are practically complete from the outside. The website for the project touts that two of the buildings are 100% leased, which doesn’t give any clues about what percentage of all the units are leased — I could tell you the first two houses on my street are occupied, but if the other five are vacant, then that paints a substantially different picture of my street. But hey, apparently they’re giving $20 lunch gift card as a thank you for doing tours, so we know it’s not 100%.

Looking at the website FAQ, it’s clearly geared to Cornell students, and though rents haven’t been posted on most websites, it looks like C.S.P. Management has discreetly posted the figures online. A two-bedroom will be $1,800/month, a three-bedroom $2,500/month, and a four-bedroom $3,200/month. Cable and most utilities (all except electric) are included in the rent, the units come partially furnished, and pets, include large dogs, are allowed. Stainless steel appliances, in-unit washer and dryer, and marble tile are also planned. Exterior features include 70 parking spaces, bike racks, stormwater ponds, bioretention areas, a children’s playground, and a dog park. Occupancy/project completion is expected by mid-August, in time for the fall academic semester.”

***

It looks like once the buildings are framed, sheathed and fitted with windows and doors, wood rails are attached over the housewrap for the vertical siding, which is attached in segments. Two of the seven-unit apartment strings (“E” and “F”, using the earlier nomenclature) are largely complete from the outside with the exception of structural trim and finish work (porches/balconies/awnings), two others (“D” and “C”) have exterior siding being applied, one was sheathed but not fitted with rails (“A”), and the last one, on the right in the first image (“B”), is still in the process of being sheathed, though I believe it started construction before “A” did. This is all work that can be finished in time for the school year. The website FAQ claims June; dunno about that.

While landscaping won’t come until the end, it looks like the wood and concrete bases for the “Ivy Ridge” monument signs are in place out front.

Units will come partially furnished, as many student-oriented and young professional residential facilities do. Bedrooms include a queen-size bed, a four-drawer dresser, a desk and a chair, and a headboard with an integrated shelf and a USB charger. In the commons area, there will be a dining table with chairs, a couch, a living room chair, a coffee table, an entertainment center, and a side table. Included in the rent are water, sewer, high-speed internet, cable, trash, and recycling. Residents are only responsible for electricity. The website seems to be making a bit of an effort to downplay the student side of it, probably for Dryden’s sake, but being right on the eastern edge of Cornell will certainly give them and edge over most of the rentals in the Varna and West Dryden areas.

More information about the project and its recent sale between developers can be found here and here.





TC3 Arthur Kuckes Childcare Center Construction Update, 5/2019

27 05 2019

It’s been just about a year now since ground was broken on the $6.5 million, 9,875 square-foot project over at TC3. Construction continues at its steady pace. The steel rails being installed over the fireproof gypsum panels will allow for the attachment of exterior finishes, metal, and fiber cement panels. The whole process is about keeping moisture from seeping inward and damaging the more sensitive building materials like the gypsum boards while allowing any latent moisture in the materials (having been exposed to the elements during construction) to escape outward. Meanwhile, the doors and windows have been fitted, and the roof membrane has yet to be fully applied.

The new child care facility will serve students and staff first, with community spaces open after that. The doors are expected to open in time for the fall semester.





Ithaca Tompkins Regional Airport Construction Update, 5/2019

27 05 2019

U.S. Senator Chuck Schumer dropped by earlier this month to make the formal announcement that the U.S. Department of Transportation had awarded the Ithaca-Tompkins Airport a $9,999,990 grant toward the airport renovation and expansion project. This money was not unexpected, though never a given; along with the $14.4 million New York State grant, the county’s portion of the bill is expected to only be about $260,000 (out of $24.7 million) assuming costs remain stable.

Now underway is Phase 2 of the project, which involves renovation and expansion of the passenger screening checkpoint of the departure lounge and the terminal’s gate area. Gone is the airport entrance canopy, and coming soon are a new concourse for arrivals and departures, and new jet bridges to contribute to the 6 gates that will operate at ITH. (Want more details? Click here). Streeter Associates of Elmira, who built Phase 1, will also be in charge of the buildout of Phase 2. The airport project is expected to be finished before the end of the year.

Oof. Hope you have a jack kit in the trunk.





East Pointe Apartments Construction Update, 5/2019

26 05 2019

Quote: “The first 10-unit apartment strings are ready for occupancy in the 140-unit East Pointe Apartments complex on Bomax Drive in Lansing village. In the typical overwrought, florid language of press releases, Park Grove realty, the developer, states the “East Pointe Apartments offers residents a unique living option away from the compact noisy rentals of downtown Ithaca with comparable prices ranging for $1695 a month for a spacious one-bedroom to just shy of $2,000 a month for a three-bedroom unit,” with “luscious walk-up gardens”, granite counter tops, stainless steel appliances and wall-to-wall carpeted bedrooms with USB outlets.

As the photos make clear, the “luscious walk-up gardens” aren’t a thing just yet, though there were dozens of saplings stacked next to Bomax Drive, waiting to be planted. Rather unusually, the timeline of the project was moved up, from a Spring 2020 completion to a finish by the end of 2019. Glancing around the project site is like a step-by-step walkthrough of the construction process. First comes the excavation and slab foundation pour with underground utilities poking out in various pipes and tubes. Then comes from the wood framing, the felt papering of the roof, and the plywood sheathing and Tyvek wrapping. Next are the roof shingles and insulation, the rough-ins, the vinyl siding and fixtures. Once the trim boards are up and the cabinets, flooring and finishes are in, they’re just about ready for their new renters.”

***

Red boxes overlay townhouse strings that are largely complete from the outside. Green is framed and sheathed (plywood with Tyvek housewrap), but lacks exterior siding, trimboards and architectural details. Blue are townhouse strings where framing is underway. Purple boxes are strings that are undergoing foundation pours and utilities installation. Looking at the site and comparing it to the site plan above, it seems that the community center is actually to the east (right) of the entrance, so there likely going to be two townhouse strings to its left (west), one of which is largely completed and one of which is just a foundation slab at this point.

It appears they’re sticking to just the two color palettes (tan/blue and grey/yellow) and not using the third color combination from the rendering. Although the project states the first units are open for occupancy, it did not appear anyone was living there yet when these photos were taken earlier this month.

Here’s a full copy of the typically puffed-up press release, which appears to quote one of my previous Voice articles:

“Ithaca, New York (March 25, 2019) – East Pointe Apartments, the village of Lansing’s latest property development opens for residence off Bomax Drive in Ithaca, New York. The first apartments are currently available for occupancy.

East Pointe Apartments are in the heart of Lansing, New York – a rural community just North of Ithaca on the shores of Cayuga Lake. The new real estate development will help the historic village gain momentum into the twenty-first century. Rochester, NY developers and property managers, Park Grove Realty hopes to set a standard for luxury living within the community.

With 20 acres and 140 state-of-the-art new construction apartment units the Ithaca Voice rightly reports East Pointe Apartments as, “…one of the largest projects the village of Lansing has seen in many years.”

Lansing’s multi-million dollar property development project will include 42 one-bedroom units, 84 two-bedroom units, and 14 three-bedroom units all nestled within the quaint village of Lansing, New York. East Pointe Apartments offers residents a unique living option away from the compact noisy rentals of downtown Ithaca with comparable prices ranging for $1695 a month for a spacious one-bedroom to just shy of $2000 a month for a three-bedroom unit.

When approaching East Pointe Apartments property development, residents will be greeted by the luscious walk-up gardens upon pulling into their personal attached garage. Each unit includes a private entrance with a choice of oversized patio or deck.

Inside luxuries include a private laundry room with in-unit washer and dryer, granite counter tops wood cabinets and stainless steel appliances in the kitchen, high end electric and plumbing fixtures, and wall-to-wall carpeted bedrooms with USB outlets throughout.

The high-end finishes extend beyond the residences with access to Fiber Optic WiFi throughout the complex, an exclusive dog park, and a luxury community building. The residents will enjoy an in ground pool, fitness center, great room, and kitchen. The community building will also house the leasing office and professional on-site management staff.

DGA Builders, LLC construction will continue to expand the residences throughout 2019 with all 14 buildings scheduled to be completed by the end of the year.

Park Grove Realty has over 35 years of real estate experience in property development, property management, and consulting. Their focus on long-term value and community-centric actions have earned them Western New York’s Landmark Society Award of Merit. They continue to broaden their portfolio in 2019 with upcoming developments all over the Northeast.”

 





Village Solars Construction Update 5/2019

25 05 2019

From the Voice, with light editing:

“Quietly plodding along off the 1000 Block of Warren Road, Lifestyle Properties’ Village Solars Apartments continues its steady buildout. This is one of the largest projects in Tompkins County, with 277 apartments approved, with potentially more in the works on the adjacent property to the east. So why doesn’t it get much attention? They build a couple of apartment buildings each year, they don’t have tax abatements or any high-profile review process because they were approved by the town as a Planned Development Area (flexible “D-I-Y” zoning), and they’re in a less-trafficked part of the county north of the airport. They’re low profile, physically and programmatically.

Under construction right now are Buildings “K” (113 Village Circle) and “L” (40 Village Place), which make the 11th and 12th buildings to have been built in the past five years. The 24-unit Building “K” is mostly complete from the outside, and likely to open for occupancy later this spring, adding another 3 three-bedrooms, 6 two-bedrooms, 3 one-bedrooms and 12 studios to the market. 24-unit Building “L”, just to its east, isn’t as far along. It’s framed, sheathed and has had its windows and doors fitted, but the fiber cement siding is only partially finished, and exposed interior stud walls are visible through the windows. If you’re wondering what the rat’s nest of white cables are, those are connections for the air-source electric heat pumps – the units are installed towards the bottom, and the cables are framed in by a bump-out for aesthetic purposes.

The latest two buildings are being funded courtesy of a $5.6 million construction loan extended by Elmira Savings Bank. According to the loan filing, both buildings are expected to be completed and ready for their first tenants by the end of September. But more realistically, given that the local rental market revolves around the academic cycle and that some graduate and professional students make their homes here, expect the new apartments to be ready for occupancy no later than mid-August.”

***

I must have missed the part when “Equinox Way”, the new through road was named. Still waiting a construction start on Building “F”, as seen below the site is just grass at the moment. Offhand, Lifestyle Properties can start one more building before they have to build the mixed-use community building, and regardless, the community center must be complete by the end of 2020.

The timeline and plans for each phase is out of whack because the redevelopment of the existing apartment 1970s buildings was expected before new sites were to get underway. I’d venture a guess the 2019-2020 phase would be 18-unit Building “M” and the Community Center, for an August 2020 completion.

Giving credit where credit is due – the in-house construction crew is moving fast with these. Building “L” hardly had its site cleared and wood foundation forms in back in February. Years of practice pays off, perhaps. Interior walls and insulation is in, but drywall has yet to be hung, so completion is still a couple of months away.





Milton Meadows Construction Update, 5/2019

25 05 2019

From the Voice:

At the site of the future Lansing Town Center, the Milton Meadows affordable housing apartment complex is well underway. Cornerstone Development Group of Rochester is developing the 72-unit, $17.3 million project, which consists of 10 buildings, nine eight-unit apartment buildings, and a community center. The project is being built by Taylor the Builders and was designed by SWBR Architects, both of Rochester.

Gross rents (rent plus utilities) will range from $680 to $1,400 a month, with 64 units for households with incomes 50 to 80 percent of the area median income ($29,500-$47,200/year for a single person, $33,700-$53,900 for a two-person household). The remaining seven units are expected to rent at market rate, with the final one reserved for the live-in property manager. Along with military service veterans’ preference (first dibs) on all available units, five apartments will be set aside for service veterans with physical disabilities. More specifically, expected rent ranges are $680 to $750 for one bedroom units, $835 to $850 for two bedroom apartments, and about $950 to $1,100 for three bedrooms. Market rate units will max out at about $1,400 for a three bedroom unit.

Construction on the property launched last November and is moving along at a fast pace. The community center building is framed, sheathed and has been faced with siding and white trim boards. Two of the apartment buildings are framed and sheathed with windows fitted and Tyvek wrapped, two more buildings are being framed, and foundation work was underway on at least one more building. The unfinished Louise Bement Lane is the only road close to the project site and offers just a limited line of sight, so more apartment buildings could be undergoing excavation or foundation pours.

Cornerstone and Taylor have deployed this design in other towns, so they have a familiarity with it, and that allows for a more efficient deployment of labor, a quicker construction timeline, and a higher fit and finish because they know the design’s quirks and where they’ve had issues in the past. Expect the apartments to start hitting the market this summer, and for completion of the project before the end of the year.

***

Perhaps to add a little more, the building in the foreground with the blue water-resistive barrier is all one-bedrooms, and the one to its north is all two-bedrooms. There are three separate building layouts, one with 8 one-bedroom units, one with 8 two-bedroom units, and one with 8 three-bedroom units (the first of which is being framed to the west/middle of photo four). There will be three of each design here, and you can see what the finished examples look like at the webpage for the practically-identical Frances Apartments in the town of Sweden here.

Note that Woodsedge Drive has yet to be realigned to make a proper four-way intersection with Louise Bement Lane. It’s on the to-do list for this summer. I do not know what the grid of embedded steel pipes on the roadway is used for, as the site plan doesn’t indicate anything unusual here. Maybe it’s where underground utilities diverge from Bement Lane and into the project site.

More information about the Milton Meadows project, including site plan details and project history can be found here.





News Tidbits 5/4/19

4 05 2019

1. Generally speaking, when the opposition is opposed to the aesthetics rather than the purpose, then a project is in good shape for IDA approval. That looks to be the case with the Vecino Group’s Arthaus project. The 124-unit all-affordable (50-80% area median income) project at 130 Cherry Street will be seeking IDA approval for an abatement at the May meeting, after hosting its public hearing this month (minutes here). As noted by the Ithaca Times, apart from complaints about it being too big or ugly, there wasn’t much in the way of opposition to the premise of the project, which is what the IDA is more interested in. As far as the IDA is concerned, aesthetics are something to be handled by the Ithaca Planning Board; if it’s okay with the PB, then it’s okay with them. Chances are pretty good that the abatement will be granted. The abatement is worth about $3.73 million towards the $28.8 million project.

2. It may have taken two tries to get the zoning variance approved, but Habitat for Humanity is moving forward with its redevelopment and new builds at 1932 Slaterville Road in the town of Dryden. The existing 19th century farmhouse will be renovated into a four-bedroom home, a first for the local chapter. The land will be subdivided into two additional one-acre parcels for a new three-bedroom home on each lot, about 1,100 SF each. Each home will cost about $70-$75,000 to build, and the goal is to have them ready for occupancy by mid-2020.

Habitat homes are typically sold to families making under 60% of Area Median Income (AMI), or about $36,000/year. The homes would have built with a combination of professional contractors and volunteer labor, including 350+ hours of “sweat equity”, where the future homeowners actively work as members of the construction crew. In a market starved for affordable housing, every little bit helps.

3. We don’t tend to see many big commercial or industrial buildings listed for sale (if in part because there aren’t many), but it looks like the TransAct Technologies building at 20 Bomax Drive in Lansing is now for sale. Now, before anyone gets nervous, the business isn’t going anywhere; they’ve always leased the space since the building opened in 1998 and have a triple-net lease.

A triple-net lease means the tenant pays everything – insurance, maintenance and real estate taxes (formally, net insurance, net maintenance and net real estate taxes on the leased asset – the three nets).  As a result, the rent is substantially lower than it otherwise might be. It may not be all that lucrative, but the property ends up being a fairly safe investment (though with a lot of fine print to determine who pays for things like if a tornado hits or the foundation cracks), generating a modest amount of rent and functioning like an inflation-protected bond, but guaranteed by the lessee rather than the government. All the better when the tenant is stable and signed on for the long-term as TransAct has been.

For just under $6 million, the buyer gets a fairly new industrial building on 7.54 acres with 18,066 SF of office space, 55,759 SF of warehouse and manufacturing space, and the security of a long-term tenant. This will not be an exciting sale, but it’ll be interesting to see who the buyer is. Warren Real Estate is the seller’s agent, and the offering description with financial data is here.

https://platform.twitter.com/widgets.js

https://platform.twitter.com/widgets.js

4. A little bit of soapboxing. I’ve been seeing and getting some messages to this effect lately. First, I’ll note that the first comment is a bit disingenuous. That’s the highest-priced three-bedroom unit. To quote the range of prices from the Ithaca Times:

“Affordable in this case will include rents for people making 50-80 percent of Area Median Income (AMI), which means that rents for studios will be between $737 and $1180 per month, to 1,095 and 1,752 [per month] for a three-bedroom apartment, the highest price.”

Anyway, the comments tend to be to the effect of “this isn’t affordable enough, so I can’t support it”. That’s a textbook case of letting the perfect getting in the way of the good. Here is a project with 124 affordable housing units, with 40 of the units set aside for formerly homeless youth and families with on-site supportive services from TC Action. It would do a lot of good to have this project available to the community.

Honestly, the argument feels like the next evolution of the arguments against affordable housing in general. Now that it’s firmly ingrained that there is a lack of affordable housing in Tompkins County and it does negatively affect the community, the next step is to say, essentially, that nothing is good enough. From a pragmatic stadnpoint, since these projects aren’t something banks and credit unions will fully finance because of the lack of a sizable return on investment, it falls to NYS to award grants. The state will not dispense larger tax credits to make a unit drop from 60% AMI to 30% AMI, that’s up to the developer to make up the bigger financial gap. To do that, either they add in higher-priced units to compensate, or the project doesn’t happen. Which is probably the end goal for many of the complainers anyway. It’s kinda like saying you’re available for a date, but only to those who are millionaire PhDs.

Anyway, weigh each project on its merits. But set reasonable goals.

5. As reported by Dan Veaner at the Lansing Star, developer Eric Goetzmann is seeking changes to the senior housing to be included as part of the Lansing Meadows project. The primary changes are making Lansing Meadows Drive into a one-way street (thus allowing it to be slightly narrower while still able to host on-street parking), and making each duplex into a triplex – three senior housing units per string, for a total of thirty. As a result, the units will be slightly smaller, though still two-bedroom apiece. The two end units in each building will be 1252 SF with a 395 SF garage. The center unit will be 1114 SF with a 251 SF garage. The third change is that Goetzmann and his project team want to amend the approvals to allow the sale of units in the future (the initial plan still calls for market-rate rentals).

This comes with a set of issues that need to be sorted out. The project has to be complete by July 2020 as required by the village in their approval resolution. The village planning board now has to consider the proposed amendments and consider whether they constitute a major change from the approved Planned Development Area (PDA, the village’s DIY zoning). Doing so would either cause the plan to be delayed and violate the resolution, or if declined for further consideration, the resolution would likely trigger a lawsuit between the village, Goetzmann, and the county IDA, who granted an abatement to Lansing Meadows. If they say the changes are minor in the context of the PDA, then construction is expected to start as soon as the amended PDA is granted (May 13th at the earliest).

The plan is to build the northern triplexes first, and then the southern units. The planning board’s not a fan from an aesthetics perspective, but the village’s code officer that the northern half is more elevated, so this reduces stormwater risks. With construction underway and loose soil on the site, if built later the exposed northern half could result in runoff and flash flooding downhill, into the southern half and its new homes. The commercial component on the east side of the property cannot legally be built until all residential units are completed.

It’s been nine years since this project was first pitched, and most stakeholders just want to get this project out of their hair. It’s not clear when that will happen.