City Centre Construction Update, 10/2017

26 10 2017

As described in the Voice summary, City Centre is digging deep.

“Unlike the Hilton Canopy, City Centre will have a basement, or more specifically, a 71-space underground garage. The plan here is to use a mat foundation, which is a shallow foundation that doesn’t make use of piles or pile drivers. The company that did the geotechnical report for City Centre reported that a 26-inch mat foundation was feasible based on soil borings, and would be less expensive than a deep pile foundation like the one being used for the Canopy. So basically, excavate some trenches, build some big footers with a lot of rebar, and pour a 26″ concrete slab. Support columns will transfer the weight of the building through the garage and into the slab beneath.

Going past the site right now, excavation work continues, with timber lagging, steel H-beam soldier piles, and steel tieback anchors that extend underneath the streets. The whole point is to reinforce the soil, because no one wants East State or South Aurora Street collapsing into the construction site. Foundations can be complex and time-consuming, and the building may not rise above street level until sometime late in the winter or early next spring. Occupancy of the eight-story mixed-use building won’t be until 2019. According to a construction loan filed with the county this week, M&T Bank is lending $47.9 million to Newman Development Group to complete the project.”

On a hunch while exploring Newman’s project-specific websites, I was able to find City Centre’s website. Morgan Communities of suburban Rochester will be the site manager, and is apparently also hosting the webpages; they’re live, but you can’t find City Centre on their search page yet.

Units will range from a 508 SF studio unit, to a 2 bed/2 bath 1319 SF units with coveted Commons views. Apartment features include quartz countertops, electric stove, microwave, dishwasher, and stainless steel appliances. On-site amenities include fitness center, “E-Lounge”, bike storage, controlled access, optional garage space rentals, electric car charging stations and furnished apartments if requested. Dogs and cats will be allowed. Rents have yet to be listed, though they’re expected to be on the medium-high side (premium, not luxury). The webpage touts Summer 2019 occupancy, which seems to be a split of the Spring 2019 and November 2019 dates used previously. Inquiries are being taken to CityCentreIthaca@morgancommunities.com, if you know someone planning that far ahead.

On another note, while poking around the geotechnical report, it turns out that early plans called for the entirety of the first floor to be occupied by a 19,900 SF “Target Express“, the smaller urban cousin to the Target general merchandise retail chain. This had to have been early on, because the parking had a much different configuration than the formal site plan, with an East State Street entrance vs. the South Aurora entrance in all the later revisions. With only nine stores as of mid-2016, Target is pretty selective about new Target Express locations. Why it was removed from City Centre is unclear.





Press Bay Court (108-114 West Green Street) Construction Update, 10/2017

25 10 2017

The tagline used on the Voice was “Press Bay Alley is as quirky as Ithacans like to think they are.” But it’s not just a quip. Press Bay Alley and its upcoming sibling, Press Bay Court, are unusual developments.

Completed in 2014, spaces at the micro-retail plaza on West Green Street range from a 160 SF barbershop to a 2,000 SF confectioner. Other tenants include a novelty store, a cafe, a circus school, an herb/spice shop, a high-tech workshop and electric bikes. Around Halloween, it becomes Harry Potter’s Diagon Alley. It’s an eclectic development by any regard.

Micro-retail is a growing retail trend that offers a unique niche product or a very limited selection of convenience products and services. A shop like Amuse or a service like Ithaca Generator may not need a large space to achieve its business goals, and can save on rental expenses with a limited footprint, compensated by being in a high pedestrian-traffic areas, in this case a couple blocks from The Commons. Similar examples include Memphis’s Edge Alley and Denver’s Dairy Block.

Granted, Ithaca is smaller than Memphis or Denver, but the underlying dynamics of active-use blocks and high foot traffic are present nevertheless, and businessmen John Guttridge and David Kuckuk of Urban Core LLC identified a potential market for the concept in Ithaca. Seeing an opportunity in the former printing press and garages of the shrinking Ithaca Journal, Urban Core, who had recently bought the Journal Building, decided to move forward with a renovation and see if they could make the concept work locally. The risk seems to have paid off, as Press Bay Alley is fully occupied.

With that under their belt, and with renovations to 121 West State partially completed (waiting on fit-out for a potential restaurant tenant), Urban Core has committed to a second phase of the project at 108-114 West Green Street. Currently vacant, 108-110 West Green housed Hausner’s Garage and a Chevy car dealership in the 1920s (see photo below), a DeSoto-Plymouth dealer in the 1940s, Ithaca Photo from at least the 1950s through the late 2000s, and from 2012-2017, McNeil Music. In the rear where D.P. Dough is (114), The Haunt nightclub called it home from 1969-1997 before moving across town.

What Urban Core’s latest plans would do is expand that “experiential” micro-retail mix eastward towards the corner of Green and Cayuga Streets, the Commons and the downtown core. The parking lot in front of D. P. Dough would be converted into a plaza much like Press Bay Alley’s, and the first floor of 108-110 West Green would be renovated into 5-8 micro-retail units facing the new plaza (the Green Street entrances would be retained), with 320-2200 SF per unit. The second floor would be renovated into four below-market rate one-bedroom apartments with 510-660 SF of living space, and the exterior masonry would be cleaned and repaired. The hawk mural will be preserved. New signage, bike infrastructure, curbing, sidewalks and a parklet are included in the plans. The total square footage in phase two is about 9,000 SF.

One of the more unusual quirks of Press Bay Court is part of the plaza would be convertible into an amphitheater/stage space for outdoor performances. So if some comedy improv group or local dance troupe wants to perform for an audience of several dozen, that’s an option. The next day, it might revert back to an outdoor seating space with movable furniture and display space for retail tenants. That weekend, it might host hungry or browsing festival goers spilling out from Press Bay Alley, which will be connected through the Press Bay Building. The space will be adaptable and multi-use, which will hopefully provide exposure for tenants.

Later plans call for renovations to the 15,000 SF Ithaca Journal (Market Bay) Building for an indoor arcade and second-floor office tenants, and a 2,400 SF new restaurant tenant in 121 West State Street, in the basement below The Watershed coffee lounge and bar. Ultimately, the goal is to build a thriving, synergistic environment where the businesses create a natural flow of customers and clients between the various shops and services offered on the block, and the outdoor space’s active uses contribute to and help sustain small local enterprises.

The project cost is estimated at about $900,000, most of which went into property acquisition. Financing comes from a Tompkins Trust Company loan, cash/equity, and a $200,000 low-interest loan from the Ithaca Urban Renewal Agency. One of the tenant spaces is being offered in the Downtown Ithaca Alliance’s “Race for Space II” competition, with the specific unit to be selected by the winner.

At the moment, not much appears to be happening. The “cut-out” lines are a clever advertisement for the future micro-retail storefronts, while the parking lot is a pop-up park for the time being. According to Press Bay Alley’s Facebook page, “Urban Core popped up a temporary installation to experiment with several design elements and gather public feedback.” Previous plans called for a spring opening, but with the Restore NY Grant under consideration, the project may not start until the Spring, in which case this entry saves the trouble of writing one next March. However, the later start date might force changes to Race for Space II, which asked for the selected tenant to be ready to move in by spring 2018, the same time construction was pushed back to in order to be eligible for Restore NY funds.

 





City Centre Construction Update, 8/2017

21 08 2017

Ithaca is fortunate to have a downtown area with strong residential demand and relatively low commercial retail vacancy. Unlike many communities in upstate New York, its downtown area is ahead of the curve when it comes to attracting and capitalizing on investment. Apart from a few communities of similar economic strength (Saratoga Springs, Beacon), most regional cities are only just starting to re-invest in their downtrodden downtown cores.

It’s important to keep in mind that Ithaca was on a similar destructive path during the 1960s and 1970s. Like many cities, it was experiencing flight to the suburbs, competition from malls and shopping centers on the fringes, and general disinterest and loss of investment downtown. In an attempt to spur development, the city commenced with urban renewal plans that, among other things, routed Green Street through an urban block to create the tuning fork in the late 1950s, and in the mid and late 1960s, the city seized multiple 2-5 story ca. 1900 structures on the 300 Block of East State Street via eminent domain, demolishing them with the intent to sell the land to Ithaca Savings and Loan for a new bank branch and office building.

Things didn’t pan out as planned. After the bank pulled out, the now empty triangle of land bounded by South Aurora, East State and East Green Streets was used as a parking lot for construction crews, before finally being sold in 1973 to the Colbert family, who developed the Trebloc Building on the site. Originally planned at two floors, it opened in 1974, a one-story, brutalist-lite structure that was not a good fit and certainly not the transformative plan the city sold voters on a decade earlier. But, the city was desperate. They would take what they could get.

In the following decades, Ithaca’s economy remained relatively stable compared to its peers, thanks in large part to the colleges – staff counts increased to pick up some of the losses from manufacturers moving out of state or abroad, and students helped buoy the service sector. Ithaca’s downtown saw some investment in the late 20th century, but more importantly, most of the historic properties that survived Urban Renewal were now generating enough interest to avoid the wrecking ball.

By the late 1990s and 2000s, the idea of spin-offs and start-ups was starting to take off, and with Cornell serving as a sort of research incubator, it led to a modest but well-paying and growing high-tech sector. Add in an increasing trend towards college towns as a lively alternative to retirement communities, and Ithaca found itself with a growing economy. Coincident was a resurgent interest in urban living; Ithaca’s sleepy but intact downtown was poised to take advantage. It was still a risk in the 2000s, but through effort and luck, public-private projects like Cayuga Green and Seneca Place have paid off.

At this point, the initial “pioneer” projects have opened and demonstrated market strengths and weaknesses. Commercial office space is lukewarm at best, but rentals are hot. With a continued resilient, growing economy, developers were now scouting opportunities on their own. This was encouraged by the city, which upzoned several downtown parcels in 2014 to drum up interest. As part of this upzone, the Trebloc site was rezoned from CBD-60 to CBD-120, raising the maximum height from 60 feet to 120 feet, while permitting 100% lot coverage (excluding setbacks) with no requirement for on-site parking.

The first formal proposal to come along was State Street Triangle in April 2015. Texas-based Campus Advantage initially proposed a 12-story, 240-unit, 600-bed apartment building with first floor retail. The units were intended towards the student market, and Campus Advantage saw the property as an ideal location to draw in both Cornell and IC students.

Unfortunately, this development attempt pretty much checked off every box for what not to do. It was very large by Ithaca standards, officially student-oriented, the original design was mediocre at best, and according to city officials and staff, the developers came in with a condescending air, like the building was a gift and the city could only be so lucky. This stirred a hornet’s nest of opposition. Complaints included the size, the parking, the tenant mix, the design, and the developers were taken out to the proverbial woodshed for being out of touch “outsiders” who were simply going to profit off the city.

While there were some proponents, they were not many. The developers tried to make amends with a more appropriate design by STREAM Collaborative that reduced the size and scale, offered to make a donation to the city’s affordable housing fund, and broke up units to appeal to non-students, but the damage was done. When it became clear they would seek a tax abatement as most downtown projects do, the mayor, who is generally pro-density and pro-downtown, spoke out against it. Behind the scenes, a local developer was preparing to file a lawsuit if the city dared to approve the project without asking for a long, expensive Environmental Impact Statement first.

Meanwhile, the Colberts were in talks with a different developer, Newman Development Group (NDG) of Vestal. While not as large as Campus Advantage, Newman had previous experience in Downtown Ithaca, co-developing the Seneca Way mixed-use project with Bryan Warren a few years earlier. In fact, NDG’s forte is suburban shopping plazas and student housing; at the time, their only urban non-student residential project was Seneca Way. But, they knew Ithaca through experience. They knew what the city did and didn’t like, and watching Campus Advantage flounder not only gave them an opportunity to swoop in, it was an additional opportunity to watch and learn.

By December 2015, the purchase option CA had on the site had expired; and when they went to renegotiate, the Colberts were not interested, and decided to go with NDG. In January 2016, State Street Triangle was officially cancelled.

City Centre was officially announced in a press release in June 2016. From the start, it avoided the mistakes that plagued Campus Advantage. The announcement came not as a leak in the Journal, but in a press release to all three Ithaca news outlets, which gave an air of transparency and limited speculation. The initial design by Texas-based Humphreys & Partners Architects was well-regarded. The project would be non-student market-rate, with studio, 1-bedroom and 2-bedroom units. Instead of no parking at all, 71 (later 72) spaces would be located under the ground floor retail in a subterranean lot. The turn lane from Aurora onto State would be maintained, rather than lost to an expanded plaza.

With this approach, opposition to City Centre was much weaker – many critics saw this as a fair alternative. There were some complaints, like from Historic Ithaca, who were against any building with more than six floors; but overall, the reception to City Centre was much more favorable. The key changes through the municipal review process was to try and make the building less massive and less like State Street Triangle, as both had similar massing, and a visual focal point on the corner facing the Commons. The project team achieved this through setbacks and bump-outs to create more facade variation, and reducing the building to eight floors. Other details that were revised include additional street-level windows and the cornice of the curved primary facade. City Centre received preliminary approval in January, after the zoning board signed off on a rear setback variance. Final approval was granted in February. The original design can be seen here, and the final design is here.

The details of the final plan are confusing to the point of frustration – no one seems to agree on the exact figures (if anyone reading this could provide them, it’d be appreciated). The range of figures call for a 217,671-218,211 SF (square-foot) building on 0.76 acres, with 10,600 SF of ground floor retail and 8,700 SF of amenity space (gym, lobby, computer room, lounge, rental office) and 2,000 SF of utility space. On the upper floors are 192 apartments, or 193 – the square footage and unit details are all over the place. Once source says 63 studio, 73 1-bedroom, 57 2-bedroom units – another says 193, with a breakdown of 56 studio units (506 SF), 94 1-bedroom units (598-725 SF) and 43 2-bedroom units (907-1,370 SF). 68-72 parking spaces will be built in a one-story underground garage (without the garage, square footage is 186,966-187,536 SF). Building height has been reported as 85 feet, 106 feet and 111 feet, which is probably just a technical difference due to the slope of the site.

The total hard cost for the project is estimated at $32.8 million, and combined hard and soft costs come in at $52.7 million. The project was granted an enhanced tax abatement in April 2017. This was not without some opposition from residents who felt it was inappropriate to give an abatement to market-rate housing, and some landlords. Downtown business owners and interest groups were generally in favor.

Construction is expected through at least Spring 2019, although the numbers have been a bit inconsistent, with some paperwork suggesting 2020. The disagreement stems in part from the start date for the 20-month construction period, and whether that includes demo/site prep or not. It will be steel frame construction with brick veneer and a few shades of Nichiha fiber cement panels. The building will use electric air-source heat pumps and have a 7.5 KW rooftop solar array.

The project team includes NDG, Humphreys & Partners as architect, Whitham Planning and Design LLC as the team representative and point of contact for the review process, and T. G. Miller PC for civil engineering and surveying work. Rochester’s Morgan Management will be in charge of leasing. NDG is in a major expansion mode on the residential side at the moment, with a 320-bed student housing project under construction in Oswego, and a 120-unit general market project underway in Binghamton.

At the moment, the former Trebloc Building is no more, having been fenced off and demolished earlier in the summer. Excavation for the parking garage and 26″ thick concrete mat foundation has yet to begin. About 400 construction jobs are expected to be created, and as part of the abatement agreement, at least 25% (100) will be local labor.

 





News Tidbits 6/25/17: Lazy Sunday

25 06 2017

1. Starting off with the new project of the week: 42-unit, 108-bedroom 802 Dryden Road. As relayed on the Voice, the parcel currently hosts several rental properties in varying condition. The project is Modern Living Rentals’ largest to date, partly because developer Charlie O’Connor tends to focus more on smaller infill in urban areas.

Although no time table has been given for the $7.5 million project, a likely prospect is approval by the end of the year, with a spring 2018 groundbreaking, and a summer 2019 opening. While John Snyder Architects is in charge of design modifications, the townhouse designs are recycled from STREAM Collaborative’s 902 Dryden plan currently finishing up down the road. Marathon Engineering’s Adam Fishel will be shepherding the project through the approvals process, just as he did the Sleep Inn for Elmira Road.

Location-wise, it’s on a bus route but most everything will need some kind of vehicular transport, so it’s fairly auto-centric. There isn’t a lot of lot nearby apart from a few small rentals and single-family homes, and Cornell farm fields. On the other hand, few neighbors means fewer people likely to raise a fuss at planning board and town board meetings. As long as they provide town favorites like heat pumps, don’t expect big hangups as this plan moves through municipal review.

2. So here’s something out of the blue. Recently, the house at 2124 Mecklenburg Road in Enfield was sold to “The Broadway Group LLC d/b/a TBG Alabama LLC”, and a $998,000 construction loan agreement was filed shortly afterwards. One does not normally see million-dollar projects in Enfield, but a look at the filing yielding no information other than to suggest it was a retail building.

A little further digging indicates The Broadway Group, based out of Huntsville, Alabama, specializes in the development and construction of Dollar General stores. The lender, Southern States Bank, headquartered in Anniston, Alabama, is a preferred commercial lender for TBG. So this is a similar case to the Dollar General recently built in Lansing by Primax Properties –  it’s less about a bank being interested in Ithaca, and more about two major companies located near each other and having an established business relationship. A check of Enfield’s Planning Board reveals that the applicant took great pains not to reveal the name of the tenant, saying only a stand-alone variety dry goods store. A confidentiality clause with client limits what they could say, and TBG will technically own the metal building for a year until it transfers over to Dollar General. Expect a Q4 2017 and with it, 10-12 retail jobs.

I’ll be candid on this one – I sent out an email before writing anything up for the Voice asking if there were enough Enfield/West Hill readers who would care enough to justify an article being written. Jolene encouraged it, the piece went up, and the traffic on the article was actually pretty good, somewhat above average in fact.

3. The city has decided which option it wants to pursue for its rework of University Avenue. Basically, say goodbye to the northbound parking aisle and say hello to a new bike lane. The southbound parking aisle will remain, along with a 7-foot wide sidewalk and 10-foot travel lanes.

4. It looks like plans for the next Press Bay Alley are moving forward. 110-112 West Green Street was sold to Urban Core LLC (John Guttridge / David Kuckuk) for $650,000 on the 19th, and a $581,250 construction loan from Tompkins Trust was filed the same day. Technically, some of the construction loan is actually for the purchase; according to the IURA breakdown, the renovation into micro-retail, office and two 500 SF apartments will only cost about $207,500, plus $40,000 for soft costs like architectural plans, engineering and legal expenses. As part of the $200,000 loan extended to Urban Core LLC by the IURA, the project needs to create at least 6 full-time jobs at full occupancy. On the Press Bay Alley Facebook page, the developers have announced plans for a spring opening, and issued a call for active-use tenants looking for anywhere from 300-2,000 SF.

5. Cincinnati-based Bloomfield Schon has arranged to sell the Cayuga Green complex, lofts, apartments and all. The developer would sell the buildings to Laureate House Ithaca Management LLC. Upon the intended purchase date of August 1st, Laureate House would pay the IURA loan balance ($733,130 at the moment with a $4,880 monthly payment) off in full. That would be about 21 years earlier than anticipated. Laureate House appears to be a start-up real estate firm backed by three wealthy Cornell alums; although the literature says they seek to launch 55+ communities for active seniors in college towns, there don’t appear to be changes in use or commercial/residential tenant mix planned with the purchase of Cayuga Green.

6. Been meaning to note this, but it appears 210 Linden Avenue is undergoing asbestos remediation, which means that the building is being prepped for deconstruction. It looks like Visum Development will be moving forward soon with their plans for a 9-unit, 36-bedroom student apartment building on the property. I did not seen any outward indication of similar work being performed on 118 College or 126 College Avenue at last check, though it’s been a couple weeks.

7. Here’s a look at the city of Ithaca’s Planning Board agenda for next week. Harold Square and 323 Taughannock will have their latest revisions checked for satisfaction of final approval (various paperwork submissions, and of samples of exterior materials to make sure they’re acceptable). 238 Linden Avenue, 232-236 Dryden Road and the DeWitt House old library redevelopment are up for final approval, and the McDonald’s and Finger Lakes ReUse’s supportive housing projects will be reviewed for determination of environmental significance, which basically means that potential impacts have been addressed and if necessary, properly mitigated.

There is also one semi-new project, which is 709-713 Court Street  – that would be the street address for Lakeview’s $20 million mixed-use affordable housing plan on Ithaca’s West End. From previous paperwork, it is known that it’s 5 floors with 50 units of affordable housing, 25 of which will be set aside for Lakeview clients with psychiatric disability. There will be 6,171 SF of commercial space on the first floor, and 17 parking spaces. PLAN Architectural Studios of Rochester will be the architect. Apart from a rough outline, there have been no renders shared of the project, so that’s the “semi-new” part.

AGENDA ITEM Approx. Start Time

  1. Agenda Review 6:00
  2. Privilege of the Floor 6:01
  3. Site Plan Review

A. Project: Mixed Use Apartments – Harold Square 6:10

Location: 123-129 E State/ MLK St (the Commons)

Applicant: L Enterprises LLC

Actions: Satisfaction of Conditions

Project Description: The Board approved project changes with conditions on May 23, 2017. The Applicant was asked submit revised materials to return to satisfy the conditions in June.

B. Project: Apartments (Short-Term Rental) 6:30

Location: 238 Linden Ave

Applicant: Trowbridge Wolf Michaels for DRY-LIN Inc.

Actions: Public Hearing Determination of Environmental Significance, Preliminary & Final Approval, Approval of Transportation Demand Management Plan

C. Project: McDonalds Rebuild 6:50

Location: 372 Elmira Road

Applicant: McDonalds USA LLC

Actions: Declaration of Lead Agency, Public Hearing, Determination of Environmental Significance, Recommendation to BZA

D. Project: Residential Mixed Use (DeWitt House) 7:00

Location: 310-314 N Cayuga Street

Applicant: Kimberly Michaels, Trowbridge Wolf Michaels for Frost Travis, Owner

Actions: Preliminary and Final Approval

E. Project: Apartments 7:20

Location: 323 Taughannock Blvd

Applicant: Noah Demarest for Rampart Real LLC

Actions: Satisfaction of Conditions

Project Description: The Board approved the project with conditions on May 23, 2017. The Applicant was asked to submit revised materials to return to satisfy the conditions in June.

F. Project: Finger Lakes ReUse Commercial Expansion and Supportive Apartments 7:40

Location: 214 Elmira Road

Applicant: Finger Lakes ReUse

Actions:  Public Hearing  Determination of Environmental Significance

G. Project: Apartments (60 Units) 8:00

Location: 232-236 Dryden Road

Applicant: Noah Demarest of Stream Collaborative for Visum Development Group

Actions: Determination of Environmental Significance, Preliminary and Final Approval, Approval of

Transportation Demand Management Plan

H. 709-713 Court Street – Housing – Sketch Plan 8:20

  1. Zoning Appeals 8:45
  1. Old/New Business
  2. Planning Board Comments on the Proposal to Rezone Areas of the Waterfront 8:50
  1. Reports
  2. Planning Board Chair (verbal)

9:10

  1. Director of Planning & Development (verbal)
  2. Board of Public Works Liaison (verbal)
  3. Approval of Minutes: May 23, 2017, April 25, 2017, and November 22, 2016 (time permitting) 9:30
  4. Adjournment 9:35




Chapter House / 406 Stewart Avenue Construction Update, 6/2017

16 06 2017

The funny thing about this project is, I already did the synopsis back in February 2016, the first time that it seemed to be under construction.

At the time, the construction seemed ready to move forward, but then, well…it didn’t. Former 400-404 Stewart Avenue owner Sebastian Mascaro sold the property and plans over to neighbor Jim Goldman, who intended to carry them forward. However, citing unfavorable cost estimates, Goldman decided to wait, and only recently has the project obtained favorable terms that would allow it to proceed.

The plans are still the same, although the project manager has changed. CSP Management (Jerry Dietz) will still manage the apartment rentals, but the commercial component is under the control of Pyramid Brokerage, Syracuse-based Hayner Hoyt will be the general contractor, and the construction manager representing Goldman is not with Hayner Hoyt and does not appear to be from the Ithaca area.

As a frank aside, it has been a rare degree of frustration to dig up information about this project. Goldman, for whatever reason, is incredibly publicity-averse, and everyone involved with the Chapter House has been asked or told to not talk about it. The little bit of information the Voice and 14850 have been able to get has come from CSP Management, which in itself comes with lots of cautions and uncertain language. The one occasion I spoke with Goldman, he told me he knew nothing and no longer owned the site, which if true, isn’t in the county’s records.

Here’s what is known. 406 Stewart Avenue will be 4 units, 7 bedrooms, replacing a similar-looking 1898 structure destroyed by fire in April 2015. 400-404 Stewart Avenue is about 9,000 SF with first floor retail with two floors of apartments – the number of bedrooms and units is not clear, as the number has been in flux. Note that calling it “the Chapter House project” is inaccurate – John Hoey, who owns the right to the Chapter House name, has not committed to reopening on the site, and the first-floor is being offered at a rather hefty $35/SF. For comparison’s sake, most downtown rates I’ve seen come in at about half that, although Pyramid is playing up its proximity to Cornell and the inner Collegetown market. A potential interior layout for a bar is included in the marketing material.

The current plan is to have 400-404 Stewart open by the end of the year, and 406 Stewart by Summer 2018. Jason K. Demarest is the architect for both buildings.

The first photo below is from my colleague Mike Blaney on May 23rd, as environmental remediation company ERSI was finishing clean-up of the fire-damaged site. In the following photos from this past weekend, the property has been leveled and graded, and a foundation is being excavated. The steel H-beams will be used as support for a retaining wall to shore up the soil, protecting the foundation and providing stability as the concrete is poured and cured.