News Tidbits 2/10/18: It’s In The Minutes

10 02 2018

1. It’s round four of the senior housing proposed as part of the Lansing Meadows PDA. This time, developer Eric Goetzmann is proposing two six-unit strings, two stories, all units two-bedrooms with enclosed garages. The Lansing Star notes that the site plan is very unusual in that all the housing is clustered at one end of the property, leaving a big vacant space that could in theory be sold off. Apparently it also caught the Lansing village planning board’s attention.

“It just looks too obvious,” said Planning Board Chair Mario Tomei. “There’s got to be some other thought going through your head about what that green area is going to be. Are you willing to share it?”

Goetzmann replied, “I don’t have anything, Mario. I need to get these 12 built. To get these things done, and then I’m going to be done with this. I don’t have any other plans for the future. I’ve listened to what you’ve said. I’ve never pushed anything. The last plan I brought here was 100% within the code. If I wanted to come back and fight it I could have done that. You had a reaction to it, and I understand. I do commercial development, not residential. But I agreed to it as part of (the overall plan to build BJ’s). I made a commitment to get these things done, and I want to get them done.”

That much is correct. The county IDA granted Goetzmann a tax abatement on the construction of BJ’s in 2011, on the provision of the wetlands and senior housing being built. After several extensions, the IDA had told him no more, the housing either starts this year, or they’ll consider him to have breached their contract. So if Goetzmann doesn’t start work on the senior housing soon, they’ll consider legal action, possibly a “clawback” on the abated taxes. As a result, this has a whiff of desperation, although the vacant land is still a question mark to just about everyone. The planning board will continue to review the plans later this month.

2. So here are a few other interesting little tidbits out of the village of Lansing:

– At the Crystal’s Salon and Spa site at 2416 North Triphammer Road, there is an early concept plan being considered for redevelopment into mixed uses with about sixty housing units. There are wetlands on the property, which the developers (as yet unknown) have said will be avoided. Zoning for the property is Commercial Low Traffic (CLT), which allows multi-family housing with a special permit. CLT is otherwise limited to office space and low-traffic operations, non-retail and non-food service. The spa might be permitted as a “clinic” health facility, the code’s a little vague at points. Crystal’s is 3.42 acres, which seems a little small for a Lansing project, though not impossible, and it’s certainly more plausible if it includes the vacant 5.61 acres next to it. Maximum height is 3 floors/35 feet., no limit on lot coverage so long as it meets setbacks and parking requirements.

1020 Craft Road, a former manufacturing facility, is being renovated by Marchuska Brothers Construction for a medical office tenant. Pyramid Brokerage has a site plan concept sketch up on their website.

The 140-unit Bomax Road apartments plan had a litigation hearing on February 2nd. It appears the developer of the proposed complex has won? If so, the plan could legally move forward.

Cayuga View might be a summer or even an early fall opening, rather than Spring 2018.

3. Over in Dryden, not a whole lot going on at the moment. The town will be reviewing the plans for Nick Bellisario’s second warehouse at 57 Hall Road. The 10,800 SF structure is a 60′ x 180′ x 20′ pole barn with a corrugated metal finish, garage bays, four parking spaces and some modest landscaping. It’s designed to complement the 12,000 SF warehouse next door, which is used by Tiny Timbers for manufacturing the components of their modular home kits. However, it’s not clear if there is a tenant in mind here.

4. It appears that there’s been some movement on the Cornell North Campus dorms. From the Student Assembly’s Campus Planning Committee fall notes:

Aspiration – 2000 new beds, 275 new freshman/year for 4 years

Process

  • Housing Master Plan will be shared with CPC in two weeks
  • Early site review: North Campus the area of focus – existing freshman and number of sophomores, and area with developable sites
  • RFP Process: 24 developers, 9 responses,  interviewed 4
  • Cornell funding decision: this will be owned and operated by Cornell
  • Fee developer to construct
  • Board of Trustees approved this early portion of the process over summer

Paul Stemkowski, serving as the North Campus Housing Expansion project manager reported:

  • We have a developer
  • Site analysis has commenced, reviewing municipal zoning and boundaries in the site areas, natural features, and a noted historic district   
  • Phase 1: proposed as 800 beds on CC Lot (1200 beds initial studies) 4 and 5 story buildings and new dining element
  • Sophomore and freshman villages
  • Appel Fields: housing proposed here for 3 to 4 stories

Timeline: August 2020 goal for phase 1 phase 2: 2021

Phase I will open spaces for deferred maintenance work- Balch Hall needs lots of restoration, rehabilitation

So, we’re looking at 4-5 floors and at least 800 beds in multiple structures on what is CC lot (the leftmost blue patch in the map), and 3-4 stories in multiple structures on the Appel Fields (rightmost blue patch). It will be Cornell owned and operated, but that makes the RFP part a bit confusing – tapping someone to build and sell Cornell the final product, or what exactly? If August 2020 is the goal, then summer 2019 is probably the hard deadline for a construction start, so expect formal site plan review to begin this fall at the latest (sooner if an in-depth Environmental Impact Statement (EIS) is expected by city planning staff). The only commercial component appears to be new dining facilities, though they are considering additional carryout food service options. No new parking will be added, and work on the Helen Newman Hall athletic facility is not a part of the expansion plans.

The October minutes cover plans for the College of engineering, with a gut renovation of Hollister and demolition of Carpenter Hall and Ward Labs. However, these appear to already be outdated, given Cornell’s state-funded plans to renovate Ward into the CEPSI+ business incubator.

5. Lansing is finally getting that sewer line, though it won’t be along North Triphammer Road. According to the Lansing Star, the new sewer will go along East Shore Drive and Cayuga Heights Road because it appeared more feasible, and gave the village of Lansing an opportunity to reconfigure a difficult intersection. The current treatment facilities are not far from maximum capacity, and as a result, the village is expanding the lot size needed for a single-family home with a sewer connection, from 30,000 SF to 45,000 SF (just over an acre). An unsewered lot requires 60,000 SF. for the record.

Relevant to this blog, the line will terminate at a trio of lots under development or redevelopment in the town – the RINK, which is adding a climbing wall, as well as the 117-unit and 102-unit English Village and Cayuga Orchard housing developments. The village mayor, Donald Hartill, says the sewer project is in good financial shape, and that a revised land survey will allow final engineering to commence, ultimately leading to construction later this year.

 

6. City Harbor updated its website with additional info. Most of it has been shared previously, but the developers note that the project would create 120 new jobsGreenstar would be responsible for about 60 of those positions, while Guthrie, the waterfront restaurant and a few management/maintenance roles would compose the rest.

7. Not a whole lot going on at the moment. The city of Ithaca Landmarks Preservation Commission (ILPC) will host its monthly meeting next Tuesday evening to continue consider of historic designation of the Nine, and provide design guidance to a smaller proposal for the adult co-op planned at 314 West State Street. The original nine-bedroom proposal was considered too big to adequately defer to this existing historic building, so the structure was reduced to a similarly-designed six-bedroom building.

Meanwhile, the city planning board will host its Project Review meeting next week as well, but only two projects are on the agenda – Novarr’s revised College Townhouses project at 119-125 College Avenue (on the Voice here) and the Stewart Park inclusive playground.





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.

 





News Tidbits 8/5/17: Having the Right Look

5 08 2017

1. Thanks to Dan Veaner at the Lansing Star, we have the first rough site plan for the proposed Cornerstone and Tiny Timbers projects at the Lansing Town Center site at the intersection of Route 34B and Triphammer Roads. Readers may recall that Tiny Timbers has proposed a development of 60 for-sale single-family homes (ten in the first phase) called “Lansing Community Cottages”, and Cornerstone is proposing up to 144 affordable apartments in two phases for the town center site.

Specifically, Tiny Timbers is looking to sell homes averaging about 1,000-1,200 SF in the $175,000-$225,000 range, which is a critical but tough-to-hit segment in the local housing market. With consultation from planner David West, the homes are designed in a traditional urban layout, with congregated parking spaces instead of garages, and community green spaces. None of the homes are more than 150 feet from the roads and parking areas, a safety requirement to ensure access for emergency vehicles. Ten units would be built in phase one, twenty in phase two, and thirty in phase three. About the only concern town officials have expressed at this point is a second means of ingress/egress to keep the traffic down on Conlon Road.

In contrast to Tiny Timbers’ site plan, the Cornerstone plan is a more conventional suburban layout with parking adjacent to each 8-unit structure. In fact, based on the above design, and the need for affordable developers to save on costs and therefore many reuse designs when they can, it’s likely that some of the Cornerstone apartments look something like the above image, which comes from a recent Cornerstone project near Brockport. The detailing and the colors may differ, but it’s a pretty good bet that’s how some of the finished units will look. Like Conifer, Cornerstone appear to be using a mix of their standard designs, and there are two distinct designs on the site plan, as well as a community center.

2. A redevelopment opportunity in downtown Ithaca has sold, but it looks like there are no plans. 110-112 West Seneca Street is a 538 SF salon with a large rental parking lot, and zoning is B-1a, meaning 4 floors 50% lot coverage, parking requirements in effect of about one space per unit or one space per 250 SF of commercial use. Tompkins Trust (Tompkins Financial Corp.) picked up the property on Friday the 28th for $600,000, below the $800k asking price but still quite substantial for what’s mostly land.

Unfortunately, it doesn’t look like anything is going to happen here. Tompkins Trust had previously rented the 23 parking spaces on site for use by its own employees – whether they’re hedging bets or don’t trust the parking garage situation, they appear to be buying the property to use as parking. Boo. With any luck, after their new HQ opens up next spring and their parking situation settles down, they’ll find better uses or potential partners for the lot. With no historic attributes but proximity to major services and amenities, a parking lot on this property is a waste of potential.

3. The Harold’s Square project team has given their website a overhaul, and with that comes the official timeline. According to the web page, asbestos abatement is now underway, demolition will start in September, construction will last through January 2019, and marketing/lease-up for the commercial spaces and 108 residential units should will start in January 2019.

The project description web page mentions 100 construction jobs, 50 retail jobs and 200 office jobs, which seems accurate for the square footage of each use (12k retail, 25k office). The estimate of 250 residents is way too generous though – the back-of-the-envelope is one person per bedroom, and there are about 144 bedrooms/studio units.

Side note, I reserve the right to grouse that the media links both go to the Times.

4. Dunno what’s going to happen with the Lansing Meadows senior housing up by the mall. Background story on the Voice here. On the one hand, the wetlands were an arduous and expensive undertaking, and Goetzmann did those to Army Corps of Engineers standards. It does make it tougher for the project to be financially viable. On the other hand, the village has a right to be frustrated, and it’s not unreasonable that they’re feeling that they’re being taken for a ride. Goetzmann received an IDA tax deal for what was largely a retail project, largely a no-no because most jobs in retail are low wage. He also received a variance for a community retail component, and multiple extensions from the IDA on fulfilling the housing component.

An increase in density spreads the fixed costs out among a greater number of units, and it’s encouraged by the village and county, so that’s not the issue. The design is what bothers them – while shared walls and utilities is a cost-saving measure, the village has expected smaller, house-like units since the project was first proposed in the late 2000s. Maybe the happy medium between this and the ten duplexes is a site plan with 3-4 unit structures with 20-24 units, with the buildings designed with pitched roofs, dormers, small porches and other home-like features. Let’s see what happens in the next couple of months.

5. Plans for co-op housing on West State Street have been waylaid, perhaps permanently. New York City businessman Fei Qi had previously proposed to renovate the historic 3,800 SF property at 310 West State Street into office space, and more recently a 12-14 person co-op. However, there have been a couple of issues with both plans – the ca. 1880 building is in need of significant structural renovation. Years of deferred maintenance prior to Qi (who bought it from the Salvation Army for $195k last year) has left the building in rough shape, and asbestos and lead need to be removed. For the housing proposal to be permitted, fire suppression systems would also need to be installed. Some city officials have expressed concern that like the carriage house that once existed at the rear of the property, if the building gets mothballed again, its structural integrity may be at risk. Any external changes would need to be approved by the Landmarks Commission. It appears that Qi recently applied to the commission stating economic hardship, saying he was unaware the building was a historic property and was not communicated to him by the seller or real estate agent, and cannot afford to renovate it to ILPC standards. The designation went into effect in April 2015, a year before sale.

Concurrently, Qi has put the property up for sale. For an asking price of $278,000, one gets the building and the architect’s plans. I’ve seen ball-park estimates of $500k for the renovation into office space, but I never saw an estimate for the co-op. As a result of the structural issues, the building’s assessed value plunged from $250,000 in 2016 to $100,000 last year, most of that being the land. Fingers crossed, someone steps up to the plate to save this building before it’s too late.

6. Last month, I speculated that there was a plan for redeveloping 217 Columbia Street on Ithaca’s South Hill. Turns out there is, and it’s really upsetting the neighbors. The plan by Modern Living Rentals is to preserve the existing building, but build an additional two-family home on the property as well. For the neighbors, this is apparently one student-oriented rental too far. Some are calling for a moratorium, and others a zoning change to prevent rentals without an owner living in the property. Most of South Hill’s zoning is R-2 residential, which is one-and-two family homes, and most of the construction in South Hill these past few years has been one and two-family homes. The issue is that they’re upset they’re rentals, many of which appeal to Ithaca College students further up the hill in the town. In theory, you could make it an approval requirement that the renters be non-students, although I’m not sure that would placate the situation. We’ll see how it goes.





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.