Cayuga View Senior Living Construction Update, 6/2018

21 06 2018

We can practically call this project complete – the first tenants move in on July 1st. Somewhere along the way, the number of units was reduced from 60 to 58, and it’s not clear whether those were one-bedroom or two-bedroom units (the initial breakdown was 48 two-bedroom and 12 one-bedroom units). No tenants have been named for the twin 1,340 SF retail spaces either.

Given that this was the last vacant high-density mixed-use parcel in the village of Lansing, it seems like they got a good project out of it. 58 market-rate units to seniors aged 55+ is a welcome addition the the Tompkins County market, especially as the retirement of Boomers only continues to grow (the market will create demand for another 70 senior-focused units per year over the next several years, as well as market-rate and affordable housing for those without specialized care needs). While not exactly an urban location, it is walkable to nearby shops and restaurants at Triphammer Mall and the Bishop’s Mall across the street, and it will have a bit of an active ground-floor presence through its small commercial spaces. 5% of the units will be built handicap-accessbile, but all will be handicap-adaptable, and the rooftop solar panels are a plus.

The project was built and developed by Taylor The Builders in conjunction with the Thaler Family. NH Architecture did the design work, and Cornerstone Group will manage the property.

Some cool aerial shots of the site can be seen here courtesy of Taylor and photographer Mick McKee. Interior photos of the nearly finished units and rental information can be found on Craigslist here.





Cayuga View Senior Living Construction Update, 3/2018

20 03 2018

It looks like Taylor the Builders has started attaching exterior finishes to the Cayuga View Senior Living apartment building. That includes decorative cornices, brick veneer, and what appears to be a few different shades of EIFS panels. EIFS (Exterior Insulation Finishing System), sometimes called synthetic stucco or by commercial brand names such as DryVit, is a lightweight, waterproof finishing material – usually it’s two-inch thick polystyrene (rigid foam) insulating panels with an acrylic finish to mimic the appearance of stucco, along with adhesive and drainage structures. EIFS is low-maintenance; it gained popularity in the 1970s and 1980s, but developed an infamous reputation for water damage due to improper installation, which is why so many building codes are stringent about adequate drainage systems for new builds. The boards can also be damaged fairly easily by blunt-force impacts. It tends to be more common on commercial buildings than residential structures, but it is not an uncommon choice of finishes for wood-frame multi-family buildings. Other recent builds using EIFS include the Holiday Inn Express on Elmira Road, and the Seneca Way Apartments on the edge of Downtown Ithaca.

Interestingly, the top floor’s panel boards are a lighter color than the third floor – renderings have them both being the same color.

Also, note the poles and flags on the roof – that’s a good indicator that some material is being applied, probably EPDM, which is a synthetic rubber. The project team recently announced that the 87,500 SF building will not only host a rooftop garden, but a 46kW, 151-panel solar array courtesy of installer SunCommon NY of Rochester.

Current plans call for the first occupants to begin moving into its 60 apartments by the end of May (the website advertises a summer occupancy, and a leasing office is present on-site). Cornerstone Group, also of Rochester, has been selected to manage the building, whose units are reserved for those aged 55+. I’ve been in touch with the project team, and there might be a sneak preview article in the Voice a few weeks before opening.





Cayuga View Senior Living Construction Update, 1/2018

3 02 2018

Somehow, these sat in my drafts folder for a week after they slipped off the radar. Anyway, Cayuga View Senior Living is topped out, most of the windows and entryways have been fitted, and much of the exterior has been wrapped. Exterior finishes include concrete masonry unit (CMU), face brick and fiber cement panels.

Worth a quick note, the property management here will be from Cornerstone Group of Rochester, the same firm developing the 72-unit Milton Meadows affordable housing at the Lansing town center. Some properties they own and manage, others like Cayuga View are managed on behalf of a client (the Thalers, in this case).

Touted amenities include “Hot Water, Basic/Standard Cable, Designer Kitchens, Energy Efficient New Construction, Trash Removal, Rooftop Garden Access, 24/7 Maintenance, Community Room, Fitness Center, Library/Computer Room, Secure Intercom, Wi-Fi Campus, [and] 24/7 Site Monitoring”, under the marketing moniker “Discover New Freedom”. One of the senior sub-markets the Thalers hope to target are snowbirds (like themselves), for whom they expect to rent the units year-round but only spend the warmer months and holidays up in Lansing. For $1,500-$2,775/month, that’s a lot of money to give up for a place to not live in all-year round. But that’s just one millennial’s shallow-pocketed perspective.

Taylor the Builders plans to deliver the 87,359 SF, 60-unit building sometime this spring – probably later in the season, perhaps May or June. No details are publicly available on the percent of units pre-leased, or for occupants of the twin 1,340 SF commercial spaces on the first floor. Background info on the project can be found here.





Cayuga View Senior Living Construction Update, 11/2017

29 11 2017

Framing for the new Cayuga View Senior Living building is one floor short of topping out. A stack of floor joists sits at the front of the construction site, as framing for the fourth floor continues. The last couple photos show how the joists are assembled between floors, typically attached to the exterior wall through joist hangers and braced with additional metal straps. Bracing has been temporarily built as the continuous plywood structural panel wall is nailed together. On the third floor they’ve started rough-ins (I see an industrial spool through the window, implying cables for electrical work), but the meat of the interior work is on the second, first and basement levels. A bit of housewrap has been applied to the rear face.

The commercial spaces are built out with masonry (CMU) walls, in contrast to the wood framing of the upper levels, and may be the result of fire code. The basement, also assembled with masonry blocks, will host utility space and some amenities. Decorative stonework provides aesthetic relief to the sloping site. Curbing has been extruded, and foundations for the light poles have been laid and wired. Not certain why there’s a moat at the rear of the building, although it may have something to do with underground utility lines.





Cayuga View Senior Living Construction Update, 9/2017

2 10 2017

The official groundbreaking for the Cayuga View Senior Living project was back on August 9th. Since that time, the basement level of the Cayuga View Senior Living project has been built out work has begun on the ground level floorplate, and the construction of masonry stairwells and elevator cores. It looks like the big supplier for the CMUs is Zappala Block out of Rensselaer (“REN-suh-lur”).

The Taylor the Builders (general contractor) press release alternately states 50 units and 60 units in the mixed-use project, but the number I’ve long heard is 60, 48 2-bedroom and 12 1-bedroom. The 2,680 SF of first-floor retail is split evenly between the two wings of the building’s ground floor. One of the things that pops up fairly often in the marketing literature is the attempt to sell it to snowbird retirees who leave the area during the cooler and cloudier months for more pleasant climes, which the Thaler family co-developing Cayuga View has long done.

“We are proud to partner with Manley Thaler and Rochester’s Cornerstone Group, to bring this scenic mixed-use development to the Village of Lansing,” said Taylor president Karl Schuler at the groundbreaking. “This project addresses a specific niche and community need for market-rate senior housing, while doing so with an overall development that more than satisfies a lifestyle choice among the growing populous {sic} of mature adults in this market.” It’s going to be a busy time for Rochester-based Taylor, as work is also getting underway in Downtown Ithaca on the 12-story Harold’s Square project this month.

Noting the gaps above the window and door rough openings, my semi-educated guess would be that it’s set aside for later architectural finishes, maybe polished stone or similar. It’s a little hard to cross-check with renders because 1) only one render of the project has ever been formally released, and 2) that render does not really show the slope of the site of the walkout basement level. An earlier render from a couple years ago predates the current window layout, but lends credence to the possibility. The below-grade base of the concrete foundation (or will be, once backfilled) looks to be insulated with Dow rigid foam board insulation with a black waterproofing membrane over the top.

The project timeline calls for a Spring 2018 opening. A synopsis of the project can be found here.

 





Cayuga View Senior Living Construction Update, 6/2017

17 06 2017

Figure Cayuga View can probably go under the “under/construction” column. Finally.

Cayuga View Senior Living, street address 16 Cinema Drive, is one of several Ithaca-area projects attempting to make a dent in the county’s lack of senior housing. Along with affordable housing and special needs housing, senior housing is often cited as something that the county needs a lot of more of, and soon. The county’s just-released housing strategy cites the need for 100-200 subsidized units by 2025, as well as a new skilled care facility. Various forms of senior care are expected to drive demand for an additional 750 units. A fully independent market-rate senior project like this isn’t explicitly categorized, but would potentially address some of the demand for senior housing in Tompkins County.

Cayuga View is a mixed-use 60-unit project on the last vacant high density-zoned parcel in the village of Lansing. Like many projects, the Thaler Family and their business partners have taken years to get to this point. The Thalers have owned the land since 1971, and have divided it up over the years, for example subdividing the property in 2000 to accommodate the construction of the CFCU branch next door. The first record of Cayuga View is really for an entirely different plan by the Thalers – in fall 2012, they proposed “C.U. Suites”, a 3-story, 43,000 SF building with 39 apartments geared towards Cornell graduate students. Along with those units were 26 covered parking spaces and two commercial spaces.

However, after getting approval for C.U. Suites, they decided to re-tool the project. At about this time, Taylor The Builders, a construction firm based out of Rochester, came on board as the general contractor, and it was determined that the student market angle “didn’t work very well”. In 2014, the revised plan, for “Cayuga View Senior Living” was rolled out. This was larger, 4 stories and 87,515 SF, with 59-62 apartment units depending on the iteration – Manley Thaler stated it wouldn’t be affordable or take federal funds, but he hoped to fill a niche below Kendal in the senior market.

It took some time to go through Lansing village boards, planning and zoning. Cayuga View required a number of zoning variances and reviews of its legalese to clarify the rules for a 55+ community in Lansing – namely, the boards didn’t want the project to revert to general housing, and there was debate over a 10 year stipulation vs. a 20 year or 30 year stipulation (I’ve honestly never heard of senior housing switching to general housing). One BZA person was upset by the height of the building and wanted it to be one floor less, and a planning board member was upset by the lack of parking, about 100 spaces.

After approvals for a tweaked 87,359 SF building were granted in Spring 2016, the project entered a sort of stall mode while it tried to obtain financing. Cayuga View Senior Living managed to land a construction loan earlier this year. According to a construction loan filed on May 25th, Five Star Bank of Warsaw (Wyoming County) is loaning the Thaler family and their associates $10.88 million to make their project become reality. Along with the loan, the Thalers and their business partners will be putting up $1,796,450 in equity to move the project forward, bring total costs to $12,676,450. It comes out to about $145/SF, a little less (~10%) than a comparable project in Ithaca city.

Included with the project are 12 1-bedroom, 1-bath units (725 SF), 48 2-bedroom, 2-bath units (three floor plans, 900-1,110 SF), and 2,680 SF of retail space, with preference towards coffee shops, small eateries or services like a salon or barber shop. The webpage comes with rendered 3-D tours; I dunno about you folks, but if there are two glasses of wine sitting on the kitchen counter at 10 AM, my concerns aren’t going to be about unit availability. 5% of the units will be built handicap-accessbile, but all will be handicap-adaptable.

The units will be priced upmarket, $1,550/month for a 1-bedroom, $2,250-$2,775/month for a two-bedroom, plus $200/month for top floor lake view units. With that comes a community center, in-unit washer/dryer, trash removal, fitness room, wi-fi, library/computer room, intercoms, rooftop garden, basic cable TV and pets under 30 lbs. for an additional monthly fee. Hot water shouldn’t be listed as a feature, but what do I know.

According to their Facebook page, Cayuga View S.L. will be ready for occupancy by Spring 2018. NH Architecture‘s Roger Langer is the project architect. Note in the foundation excavation photos that the building will be built into the slope of the hill – four floors in the front (east), five in the back (west). There has yet to be an updated site plan posted, but parking will mostly be on the side facing the bank.

At the end here is a shot of the Triphammer Apartments/former Chateau Claire renovation across the street. That is a separate $1.14 million project by Park Grove Realty to renovate 64 ca. 1960 apartment units (kitchen and bathroom remodeling, washer-and-dryer installations, roof repair, new balconies, gutters, landscaping and lighting), add parking stalls and a 425 SF rental office.

 





News Tidbits 6/3/17: The Return, Part I

3 06 2017

My apologies for the lack of a weekly round-up. My day job has been busier than usual, and the list of topics just kept growing, making it an even more daunting task. Gonna try and work through a few at a time until everything’s caught up.

1. Cornell and EHVP’s East Hill Village webpage has started to flesh out their Q&A regarding the mixed-use megaproject slated to replace East Hill Plaza. Here are a few details:

– Cornell wants to make it clear that all images to date, include the conceptual from the master plan above, are strictly conceptual and have little bearing on the final product. The more realistic and nuanced take is that Cornell has an idea of what they want and the program format they want it in, for broad concepts like housing capacity, commercial/research space and general urban planning. In terms of an actual layout or tenant specifics, they probably don’t have much.

– Perhaps in response to a Voice commenter and former Ithaca town planning board member who accused the university of segmentation (meaning, during environmental review they illegally broke up a project into phases to avoid a greater analyses and to downplay impact), the FAQ notes that they didn’t really have this fleshed out and it’s separate from Maplewood. Given the size, scale, that it’s a physically separated set of properties, and vague goals they’re walking into this with, that’s a fair statement. If this were, say, a replacement for Ithaca East, which borders Maplewood, it’d be a different story.

– The current thinking is to keep the main retail strip, which was requested at the first community meeting. However, they may take down a portion of it to create a through-street, and reconfigure/relocate the parking.

– They haven’t written off pursuing a PILOT or tax abatement. They are exploring an affordable housing component. Eco-features like solar arrays, heat pumps and net-zero structures are being considered.

– Meetings will continue through the summer, with concept plans prepared for the town by the fall. Construction on the first phase would begin in 2019. It will be multi-phase.

No second meeting has been posted yet, but keep an eye out for updates.

2. Making its round around local governments and news outlets is a recently-published study by local structural engineering firm Taitem that tells of good news for heat pumps, and maybe serve to county one of the town of Lansing’s arguments regarding the West Dryden natural gas pipeline. Although the firm is a promoter of green initiatives, their study indicated that financially, the technological advancement in heat pumps over the past several years has made them competitive with natural gas, although each has pros and cons. For smaller units, a 1,500 SF townhouse in the study, it was found that an air-source heat pump was slightly less in annual cost than a natural gas furnace – for a modeled 4,000 SF detached custom home, it was a few percent more. Ground-source pumps were more expensive (but slightly “greener” than air pumps), and propane was the most costly, as well as the biggest carbon emitter. Although contractors are still adapting to heat pumps, the cost is decreasing somewhat as their use spreads and familiarity grows.

However, not everything is roses, at least not yet. For large-scale commercial and industrial operations whose heating needs are substantially greater, it appears that heat pumps have yet to be competitive, and even Taitem’s Ian Shapiro acknowledges that’s likely the case at present. But while the pipeline will continue to be an issue for larger commercial enterprises, homebuilders and residential developers should be able to adapt without too much additional financial burden or risk.

For the sake of example, the Village Solars charged a modest premium on rents when they went with pumps a few years ago (due to installation costs rather than operating costs), but having a strong product makes up for the extra short-term investment, the costs will potentially balance out over a few decades, and frankly, it makes for good marketing in eco-conscious Tompkins County.

I’ll admit to being skeptical over the past few years, and I still have concerns for economic impacts like the MACOM decision, but at least from a residential construction standpoint, the Village Solars and this study are making a strong statement.

3. Move this one into the “construction” column – Cayuga View Senior Living has secured a construction loan. The mixed-use, 60-unit senior housing project at 25 Cinema Drive in Lansing village has been in stall mode for a year as financing remained elusive. However, according to a construction loan filed on May 25th, Five Star Bank is loaning the Thaler family and their associates $10.88 million to make their project become reality. Along with the loan, the Thalers and their business partners will be putting up $1,796,450 in equity to move the project forward, bring total costs to $12,676,450.

Here’s a cost breakdown – individual figures are blocked out to avoid potential legal issues. But for the sake of illustration, here is the breakdown of the finances. Source of funds to the left, breakdown of hard and soft costs to the right. Breaking down the terms, we’ll start with the hard costs: easements are the legal right to use someone else’s land for your own use – often seen with utilities, they can also be used for private improvements like sewer, solar, paths or driveways/parking. Site improvements include landscaping, driveways, and drainage. Building Cons. costs are actual materials/labor expenses, and tenant improvements are the costs of fitting out retail space as part of a lease agreement. Lastly, general conditions are a catch-all for non-construction labor costs, including site management like porto-potty rental and temp utilities, material transport costs and project management – for this project, site management falls under the general contractor, Taylor the Builders of Rochester.

Soft costs include contigency (cover your rear allowance),  overhead developer profit (the amount needed to compensate the development team, which isn’t necessarily the exact same group as those putting up equity, for taking on this project), construction interest and LOC [Line of Credit] fees to the lender, and other line items that are either self-explanatory or too vague to ascribe. At $145/SF, the cost is a fair 10% less than a similar project in Ithaca city (offhand, 210 Hancock’s apartments are ~$160/SF), which can be explained in part by lower land costs and a less complicated site to work within, and to get in and out of.

Five Star Bank is a regional bank based out of Wyoming County in the western part of the state. They hold a few local mortgages, but this appears to be their first construction loan recorded in Tompkins County.

4. I’ll wrap up “Part 1” with a piece of interesting news – Cornell found a buyer for their printing facility and warehouse on Ithaca’s West End. According to a county filing on June 2nd, Guthrie Clinic is paying $2.85 million for the properties at 750 and 770 Cascadilla Street, which is over the asking price of $2.7 million. For that they get 3.12 acres, a 37,422 SF warehouse built in 1980, and a 30,000 SF storage facility built in 1988 and currently leased out.

Guthrie is a regional healthcare provider based out of Sayre, Pennsylvania – their premier facility is the 254-bed Robert Packer Memorial Hospital, which Ithacans might know as one of two locations someone is likely to be transported to in the event of a severe injury (the other being University Hospital up in Syracuse). For the record, Cayuga Medical Center has 204 beds.

Guthrie’s presence in Tompkins County includes some specialty offices and an existing 25,000 SF clinic at 1780 Hanshaw Road in Dryden. That building first opened in 1995, with an addition in 2000. Guthrie has been a building spree as of late, with a 25-bed hospital in Troy, PA that opened in 2013, and a 65-bed hospital in Corning that opened in 2014.

As for what they want to do on Ithaca’s West End, well, I’m working on figuring that one out. I’m hoping the Times writers who follow the blog will cut me some slack and let me try to unravel this one.