News Tidbits 9/9/17: Shopping for Sales

9 09 2017

1. As Dan Veaner at the Lansing Star reports, the new owners of the Shoppes at Ithaca Mall (aka Pyramid Mall) are planning to roll out new tactics to counter the ongoing, nationwide retail apocalypse currently underway. Instead of leasing locations, the mall owner would like to subdivide retail spaces within the mall under a Planned Development Area (DIY zoning, in essence) so that tenants could potentially own their spaces instead of renting them, under the hope that when they own a store location, they are less likely to close it and will opt for closing rented spaces elsewhere. Because customary use-based (Euclidean) zoning is not suited for this unusual arrangement, a PDA has been suggested, and the village of Lansing seems amenable to the idea.

On a related note, another subdivision of the mall properties would open up a portion of the parking lot behind the Ramada Inn for the development of an extended-stay hotel. This would probably play out over a few years, given the time to design a project, secure a brand and ask for village review/approvals. Market-wise, it’s not implausible, since the other hotels planned, like the Canopy downtown or the Sleep Inn at 635 Elmira Road in Ithaca town, are geared towards the overnight crowd, and the overall market is growing at a sustainable pace. As long as the local economy continues its modest but steady growth, a medium-sized specialty property that opens in two or three years would probably be absorbed by the local hospitality market without too much fuss.

2. Meanwhile, over in the the town of Lansing, a couple of minor notes and some name changes. From the town of Lansing Planning Board agenda, it appears the 102-unit Cayuga Farms development is now going by the name “Cayuga Orchard”. The project, which has been stuck in red tape due to the stringent review of modular sewage treatment systems, is seeking modifications to their plans, which was summarized in the Voice here. The short story is that the project has the same number of units, but the impermeable area has been decreased and the number of bedrooms is down from about 220 to 178. That should help reduce stormwater runoff, and if the town sewer isn’t through yet, it could make the modular system more feasible.

Secondly, Cornerstone’s Lansing Commons Apartments are being rebranded as the “Lansing Trails Apartments”, which makes sense since there aren’t any “Commons” in the town, but the town center property is traversed by numerous recreational foot trails. The town has endorsed Cornerstone’s two-phase, 128-unit development plan for affordable rental housing, though the planning board did express concerns with the impact of dozens of additional school children on a property with 581a property tax breaks, which may result in a 4% increase in school taxes in the default scenario. The number could vary given the number of kids that actually live there – the board ballparked 80 for their back-of-the-envelope analysis, which given 128 units and roughly 208 bedrooms in the project, isn’t unreasonable.

3. On that note, it appears Cornerstone and NRP have applied to the county’s affordable housing funding grant for a bit of financial assistance towards their respective projects. Cornerstone is seeking funds for qualified units within the 72-unit first phase of its Lansing Trails project, and NRP is seeking funding for qualifying units within the 66-unit first phase of its Ithaca Townhomes project on West Hill. Each organization would receive $256,975, mostly in Cornell-donated funds, if approved by the county legislature. The money may be leveraged and with less needed from traditional affordable housing funds, it may make each project more appealing from a federal or state grant perspective, with demonstrated municipal interest and more “bang for the buck” on the grantor’s end.

4. The two-building apartment complex planned at 232-236 Dryden Road is one step closer to construction. According to Tompkins County records, Visum Development bought the two properties on which the project was proposed (114 Summit Avenue and 232-238 Dryden Road) for $7.65 million on Monday the 5th. The properties are only assessed at $2.55 million, but sellers tend to enjoy a hefty premium when developers have intent for their parcels.

The following day, the building loan agreement was filed. The loan, for $16,354,628, was granted by S&T Bank, a regional bank based in Pennsylvania that has no retail banking presence in Ithaca, but has served as the financier for several projects, including the Holiday Inn Express that recently opened on Elmira Road, and Visum’s just-opened 201 College Avenue project.

A breakdown of the costs shows the total project cost is $22,780,334. There’s $13,020,010 in hard costs (materials/labor), $7.65 million for the purchase, $475,000 in soft costs (architect/engineering/legal), $250,000 for the demolition, and the rest is for taxes during construction, interest reserve (interest on the construction loan during construction). $650,000 (5% of the hard cost) is set aside as contingency funds just in case the expenses clock in higher than expected.

Along with the loan, Visum and its investor appear to be putting up $6.325 million in equity. With these hefty sums, one has to be pretty certain of their investment. In Collegetown, they often are.

Visum CEO Todd Fox has previously stated construction is expected to start this month on the 191-bed apartment property, with an eye towards an August 2018 completion.

5. The Old Library property sale is official, on an 11-3 vote. Legislators Kiefer, Chock and McBean-Claiborne voted no, none of which are an big surprise since, as members of the Old Library Committee, they found something to dislike with every proposal back in 2014. If anything, the surprise might have been legislator Kelles, who while not a fan, supported the mixed-use project. Travis Hyde Properties will bring 58 senior apartments, community space administered by Lifelong senior services, and a small amount of commercial space when the building opens in 2019.

6. So this is interesting. Josh Brokaw is reporting over at Truthsayers that Cayuga Medical Center wants to move the Community Gardens off the land. That is a story being covered further by my colleagues at the Voice, but notable to this blog’s purview are two nuggets of information.

One, Guthrie and CMC had *a bidding war* for the property, which explains a couple of things. It explains why CMC paid $10 million for a property the Maguires only paid $2.75 million for, and it offers a clue as to why Guthrie purchased the neighboring Cornell warehouses. They both have had plans for that area, and working together isn’t a part of them.

Two, Park Grove Realty is involved with CMC. They’re a young Rochester-based company generating lots of news in Lansing with a lawsuit-laden 140-unit townhouse project, and they purchased the Chateau Claire apartments and renovated them into the upmarket Triphammer Apartments, which generated its own share of controversy.

Anyway, it makes the commotion down by Carpenter Business Park that much more interesting. Nothing has come public yet, but keep an eye on it.

7. On a related note, it’s not much of a physical change, but Maguire is using some of that cash windfall to officially acquire the former Bill Cooke Chevy-Olds-Caddy dealership on Lansing’s Cinema Drive. The franchise rights were transferred over ten years ago, but the property itself was still under the ownership of the Cooke family. Thursday’s sale was for $2,015,000. The 4 acres and 19,857 SF building was assesses at $1.8 million, so it appears the sale price was a fair deal for both sides.

I would be remiss not to point out that the buyer was “Maguire Family Limited Partnsership”. No LLCs cloaking this purchase like with Carpenter Business Park.

7. Now that the state has okayed the Cargill expansion, the above-ground portion of the project has to go before the Lansing planning board. The surface facilities, expected to cost $6.8 million, consist of a 10,000 SF administration building, a 2,100 SF maintenance building, a 2,600 SF hoist house, parking, landscaping and signage. A hoist house is essentially an industrial-strength engine room for operating the lift that brings people and equipment up and down from the shaft. It’s likely the primary cost contributor in the surface portion of the project.

As seen in the renders above, it’s designed for functionality rather than aesthetics, though Cargill did attempt to make the shaft building barn-like to blend in better with the farms. Construction on the above-ground structures is expected to start next year and run for about 18 months (the mine is being built from the bottom up). Although not shown in the renders, trees will be planted around the developed area to provide a green screen and help dampen noise.





News Tidbits 12/10/16: Missing Out On the Fun

10 12 2016

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1. We’ll start off out in the town of Lansing this week with a new business startup looking to climb to the top of the pack. Reach Works, the brainchild of an academic family that relocated to Ithaca, just earned final site plan approval to build a professional-grade climbing wall and facility at 1767 East Shore Drive, next to The Rink. The $1.2 million, 10,400 SF building will have a noticeable impact on the Lansing shoreline, as the building will reach 56 feet in height. South Hill’s George Breuhaus will be the architect in charge.

According to the Times’ Cassandra Negley, the owner looked at Chain Works for an opportunity, but those plans fell through. The finalizing of the wall design is underway now, and Reach Works hopes to begin construction in March and be open by next fall. Between the pro shop and the wall, they hope to employ five full-time and ten part-time, with most making about the living wage of $15/hour (although, the application on file with the town says six employees). The hope is that it also becomes a regional attraction, drawing in hardcore climbers from the Rochester, Syracuse and Binghamton metros. Best of luck to them.

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2. Maplewood is almost ready. The city is set to give its final approval this month, and the town is expected to give preliminary approval before the Christmas holiday. The latest changes to the FEIS include the following details:

– The amount of money for traffic calming measures has been increased from $20,000 to $100,000. $30,000 goes to the city and town, and $70,000 will be allocated by EdR and Cornell for streetscape improvements that they will build.
– Recycled building materials will be incorporated into the buildings.
– A revised estimate states that 100 to 150 construction staff will be on site during construction. They will park behind the East Hill farmer’s market space and are expected to walk over to the site. They will work on weekends, with noisy work commencing after 8 AM.
– The units closest to the East Hill Rec Way have been moved another four feet back from the trail.
– Initial property taxes in 2018 will be $2.25 million. IT is assumed they will go up 3% each year thereafter.

Oh, and the questioner who freaked out over the East Hill Village plan online – that SWA plan dates from about 2007.

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3. Cayuga Med’s plans for a 6,000 SF addition to their Behavioral Health Unit has been approved. At this point, the project needs a minor zoning variance for height,and then CMC has to apply for certification from the New York State Office of Mental Health for the facility to be approved- specialized medical facilities, like CMC and Brookdale, have to prove there is a need before they’re allowed to build. The hospital hopes to open the project to bidding early next year.

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4. So ICYMI, the Masonic Temple rehabilitation is moving forward. Six months later than anticipated, but it is moving forward. The project is valued somewhere north of $1 million. There is one other project on the Ithaca Landmarks Preservation Commission (ILPC) agenda that I thought of writing an article about, but decided it was too minor – the Alpha Phi Alpha house at 421 North Albany will be doing a reconstruction of a non-historically significant rear porch. If it were a full reno, I’d do a write-up for the Voice.

Also on the ILPC agenda – a discussion of Collegetown Historic Resources. I have the feeling this is being spurred by Novarr’s 119-125 College Avenue project, the College townhouses. Three historically significant but non-landmarked apartment houses were taken down to make way for the project, which is expected to go up for preliminary approval later this month. The city did a review after the document was first published in 2009, and landmarked the Snaith House at 140 College and Grandview House at 201 College – they could be considering making a move towards landmarking other properties – some of the historic structures on the 400 Block of College Avenue, and the 100 blocks of Oak Avenue, College Avenue and Linden Avenue are possibilities. Novarr has another project rumored for 215 College Avenue, but that building, dating from the 1870s and renovated/expanded numerous times, was not on the 2009 list.

5. Staying Collegetown, a big sale this week – 113 College Avenue sold for $1.7 million. That’s a very impressive price for an outer Collegetown apartment house – the tax assessment has it pegged at $610,000. The bones of the 13-bedroom, 3,738 SF building date from the late 1800s, but like its twin next door, it’s been the subject of a very unsympathetic renovation (records suggest the renos were done around 1980). The house has been owned by the Tallman family since 1987.

The property is zoned CR-4 – four floors, no parking required. CR-4 is the same zoning as Novarr’s townhouses and Visum’s latest pair of proposals. And, because what goes around comes around, the buyer is the same LLC that sold Visum’s Todd Fox 201 College Avenue for $2.65 million back in June – Russell Johnson’s PBC & Associates LLC. He also picked up a CR-3 building at 233 Linden Avenue for $750k back in the fall. Price suggests redevelopment, but the buyer isn’t known for that – he might have just paid big for a long-term investment. TL;DR, he might be planning something, he might not; we’ll see.

On a side note, the county’s going to make some money raising the property tax assessment on this one – offhand, I’ve noticed most of the houses sold this week (excluding a couple in Ithaca city) have gone at or well under assessment, which is a bit unusual, and probably not something that the tax assessor’s office wants to see.

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6. Good news and bad news from the Regional Economic Development Council awards. The good news is, the area’s getting money. Cargill gets $2 million towards their salt mine project (they requested $5 million), Cornell gets $250,000 for a startup business alliance, County Waste gets $355k for a food waste transfer station at the recycling center site, and the Sciencenter gets $150k for renovations. Several smaller awards are to hire staff for cultural and arts programs.

Now the bad news – one project, marked priority, was not funded – the Collegetown Travel Corridor proposed by the city of Ithaca to connect Downtown and Collegetown. I asked to make sure, and the Planning Department was just a little deflated in their response. Major bummer. I don’t doubt the value of arts programs, but $38,500 for a theatre director and $41,000 for a workforce expansion isn’t sustainable, it’s one year’s salary. That’s nice, but how does that benefit the area in the long-term? The Travel Corridor would have further encouraged urban development downtown and Collegetown that could have indirectly supported the arts through patronage, or directly through taxes that are used to fund local-level grants.





Previews and Reviews From the AIA Design Crawl

10 10 2016

Last Friday, several Ithaca-area architecture and engineering firms banded together to co-host an open house night at their locations across the city. Here are some of the latest and greatest plans are from some of the local designers.

The first stop was John Snyder Architects in Ithaca’s West End. On display were the Carey Building plans and other recent works, like the internal renovation of the South Hill Business Campus for CBORD.

The second location on the list was HOLT Architects at 619 West State, which was probably the most family-friendly of the hosts, based off of the pizza bar and the children’s play-room. HOLT had several new and in-progress projects they shared with the public that evening.

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The Computing Center is looking to move out of the Cornell Business Park and into a new property to be built at 987 Warren Drive in the town of Lansing. The property is currently a two-story farmhouse and includes a vacant lot on the corner of Warren Road and Warren Drive, purchased by its current owner (an LLC) in December 2014. The new building appears to be a one-story structure.
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HOLT is arguably the local specialist for medical facilities and lab structures. Here’s a pair of projects recently completed at Cayuga Medical Center. The Surgical Services Renovation is a renovation and addition that includes space next to the front entrance, creating a new “face” for the complex. The Behavioral Health Unit is an addition on the northwest side of the building, and isn’t visible from most nearby roads and structures.

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The online version of these will be showing up in the Voice soon enough, but here are the latest design plans for the Old Library site. The indoor parking was eliminated so that the fourth floor could be set further back, and the entire building has been pulled away from West Court Street. The building still has 57 apartment units for the 55+ crowd.

The next stops were at Taitem Engineering and SPEC Consulting. Taitem (which stands for “Technology As If The Earth Mattered”) serves as structural engineering for many local projects, focusing heavily on renewable energy sourcing and energy efficiency. The focus of their open house was a tour of their LEED Platinum, 120-year old building at 110 South Albany Street, which they said was only the fourth renovation of its kind to achieve Platinum designation. I snapped a photo of Taitem’s staff, but that was taken for the IV Twitter account.

SPEC Consulting had on display a couple of home renovations they have underway, a mixed-use building in Johnson City, as well as rehab of a vacant commercial building in downtown Binghamton into a 70-unit mixed use building. To be honest, I was more focused on the personal than professional when I was at SPEC – I ran into someone I knew from undergrad whom I hadn’t seen in nine years, who apparently settled in the area and married a SPEC architect.

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At STREAM, several projects were on display – 201 College Avenue, State Street Triangle concept drawings, and a room showcasing Tiny Timbers. According to Noah Demarest, this was the first time they had shown all the home plan designs together. Also there was Buzz Dolph, the entrepreneur behind Tiny Timbers.

Not shown here but on display were a pair of attractive design concepts for CR-4 zoning in Collegetown. They might become more than concepts at some point.

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This is the latest Maplewood site plan, courtesy of Whitham Design and Planning. Here are the two big changes (previous site plan here) –

1. The Maple Avenue building has been broken up into two separate buildings.
2. Townhouses sit on Mitchell at the southwest corner of the site, replacing the multi-story apartment building previously planned.

The number of beds, previously 887, has probably decreased a little bit as a result.

I did not make it to Chiang O’Brien Architects, unfortunately. It looks like from their website they have a new project underway at SUNY Oneonta.