Ithaka Terraces Construction Update, 11/2017

23 11 2017

These are turning out quite nice. Building “A” is practically complete from the outside. The plant boxes outside the windows have even been stocked with small ornamentals. About the only thing left are the exterior finishes on the front facade columns. Building “C”, the smaller building to its east, is also nearly finished from the outside. I suspect the wiring coming out of Building “C” just above the parking area is for electric car charging stations.

Building “B”, the other large condo structure, is fully encased in plastic sheeting and wood ribbing. Stucco generally needs to be applied in dry, temperate weather conditions, above 40 F at a minimum. Given Ithaca Novembers, that means McPherson Builder has basically turned the building into a dry, heated bubble so that can apply the stucco properly. Building “D” is still being roofed, and is just getting its windows fitted. It looks like the scratch coat for the stucco is being applied over the water barrier, and the brown coat and the finish coat will come later, meaning that “D” will eventually be bubbled in as well.

Most of the concrete curbs and steps have been formed, poured and cured at this point. The grand staircase will make for a nice shortcut from South Cayuga Street to West Spencer Street.

The marketing material appears to be using the phrase “Arriving here is what you are destined for“. Tje website doesn’t indicate how many of the twelve units are spoken for (if any; the project is in the soft marketing stage, where they’re accepting inquiries but there aren’t any formal real estate listings). The two-bedroom and three-bedroom units go for $299-$434k, depending on size and location.





News Tidbits 11/18/2017: Fears and Hopes for the Future

18 11 2017

1. Here’s an interesting sale – a 62.1 acre parcel on Troy Road sold for $380,000 on the 13th, less than half the original asking price. The buyer, “Troy Heights LLC”, is registered to the same address as Giora and Limor Fix, a semi-retired husband and wife couple who have acquired a number of rental properties around the area over the past decade, with 43 or so units worth something in the ballpark of several million dollars (units are marketed by the Fixes under the name “Homes-for-you Rental Properties”).

The Troy Road property is intriguing because there was a development proposal floated there a few years ago. Rural Housing Preservation Associates LLC had proposed a 130-unit combination of middle-market single family homes, townhouses and small apartment buildings for the site back in 2014; it started as 206 units, the town and neighbors complained it was too big, the project was whittled down to 130, and then the proposal was cancelled by September 2015. Using cluster zoning, the project could have built out 145 units in the low-density residential (LDR) zone, since the town’s cluster zoning allows 2.3 units/acre. STREAM was in charge of the project design, and some of the renders of the never-built apartments can be found here on their website.

So here is a log lot, bought by folks involved in local real estate and with significant assets, under the name “Troy Heights”, which sounds like a project title if anything. I reached out to Giora Fix, and he was kind enough to respond:

“[C]urrently we do not have any concrete plans to develop Troy Road. Once we have them I will be happy to share with you.”

So something to keep an eye on, though it might be a while.

2. Here’s a piece of news from the Times’ Nick Reynolds. With regards to the police consolidation debate, the city wants to have the headquarters downtown on Green Street (likely in that proposed centralized government facility floated for the Central Fire Station site), while the towns would prefer something near the current BPW on the north end of the Northside neighborhood, which offers easy access to Route 13. Consolidation is still a rather unlikely prospect at this time, and there’s little enthusiasm from the more rural parts of the county. But it sounds like the sheriff is keen on killing the city’s ideas before they take off.

3. Bad jobs month for the state, good for Ithaca. The Ithaca metro (Tompkins County) added 1,800 jobs (all private sector) from October 2016 to October 2017, bringing the total to 67,800. The 3.2% increase was the largest gain by percentage in the state over the time period. Unfortunately, the state as a whole lost 11,900 jobs last month, which falls even more to 14,600 jobs when taking away those added by the public sector (government jobs). A study from the Federal Reserve Bank last month notes that upstate economic growth in general has been losing steam over the past year, with exceptions for Ithaca and Albany. New York City is performing reasonably well.

While it’s well and good that Ithaca is doing well, I have concerns about the recent tax reform bill going through Congress. With the potential hit to SALT deductions and the taxation of graduate student tuition waivers, I could see significant negative impacts on the local economy. Given that most communities have property taxes in the range of $2500-$4000/$100,000, a cap of $10,000 as proposed by the House would hit many middle-class and upscale neighborhoods hard. A typical home in Ithaca city is worth about $230,000-$270,000 range at this point, and with about $3779 per $100,000 in property taxes, that means that homeowners with properties valued over $265,000 will take a financial hit, close to half of the homes sold. The Senate’s version removes the SALT deduction completely, affecting all local home buyers. Either case would be a severe blow to the home buying market.

Another concern is the taxation of graduate student tuition waivers as proposed by the House plan. Speaking from experience, I had a waiver that saved me about $14,000/year at the public university where I did my master’s. In my case, seeing that taxes would have cost an extra couple thousand in theory, though the doubling of the standard deduction might have limited its impact on me. A Cornell graduate student is looking at $20,800-$29,500, and could see a tax bill larger than any savings from the standard deduction increase. The Senate version does not tax tuition waivers. Another, lesser factor to consider is that the student loan interest deduction for borrowers on-time with their payments would be eliminated.

On a final note, Cornell’s endowment would be taxed an extra 1.4% under the House bill, as would any college whose endowment is worth more than $250,000 per full-time student. Cornell’s endowment is $6.8 billion, and the school has 23,016 students across all campuses as of Fall 2017. That is over the allowed cap of $5.75 billion as calculated by the bill’s guidelines.

The long story short is that Cornell recruitment takes a hit, as does its endowment, and that could impact current employment as well as future hiring. Politics aside, these “reform” bills are definitely a cause for concern from Ithaca and Tompkins’ economic standpoint.

4. A separate note not so much economic, but something many Ithacans care about – the House bill takes away the historic building rehabilitation tax credit. The renovation of 310 West State Street that I reported in the Voice earlier this week would be off the table without them, and the building will likely be demolished if the credits are eliminated. So the impacts aren’t just economic, but perhaps aesthetic as well.

5. This is looking to be a very quiet late November. For the first time in over a year, the town of Ithaca has cancelled two planning board meetings in a row. Meanwhile, in the city, the only “old business” reviews are final site plan approval for the 601 South Aurora duplex, and final approval for the Brindley Street Bridge replacement.

6. So technically, the Request for Proposals went out for the Green Street Garage site. A site tour for interested applicants is scheduled for December 4th, applications are due by January 23, 2018, and no timetable is given for the selection of the preferred developer. The applications are to include a cover letter, application form, description of project team members with relevant experience, proof of ability operate in NYS, good reputation, financial status, marketing plan, tenant management plan, conceptual designs, financing plan and demonstrated capacity to obtain financing, purchase price, project schedule, community impact benefits statement, schedule, and specific concerns (acknowledgement of site issues and plan to resolve them). A $500 application fee is also required.

Obviously, Ithaca Associates LLC has a huge leg up on the competition, since they not only have a plan fleshed out, they own the ground lease under the eastern end of the garage that everyone else would have to negotiate to obtain. About the only legitimate opening to another developer would be for the western and central portions of the garage, though the city’s requests make it such that anyone else interested had better be thinking big with housing, parking, and other site uses. Saying you’d leave things as-is would be an immediate disqualifier. Unless Fox or Lubin are dreaming up multi-story apartment buildings, it isn’t likely many developers will entertain this RFP. This really feels like it’s just the city stalling for time so they can fully absorb the immensity of the 365-unit, $118 million “Village on the Green” proposal.





News Tidbits 11/11/17: It’s Back

12 11 2017

1. One of the reasons for the lull in weekly round-ups has been the lack of smaller news items to fill it with. A few larger items made it into Voice articles, but there wasn’t much of a middle ground between “expand into article” and “not newsworthy”. I’m happy to take comments here about Voice articles, although the blog is intended to cover topics that may not be ready for a full write-up.

As noted in the Voice, there isn’t much before the city of Ithaca at the moment. A sketch plan for infill rental housing at 209 Hudson Street is likely dead in the water as a result of the new South Hill Overlay, and a modest infill plan calls for a duplex at 601 South Aurora on the corner with Hillview Place, which can only be an improvement from the informal parking lot currently there. The modular unit design is thoughtful (varied materials, plenty of windows) if unexciting, and the sidewalks are a plus. The units are physically structured as townhouses, but technically they aren’t, since townhouses are defined by International Building Code as strings of units of three or more.

Meanwhile, things are so slow in the town at the moment that they cancelled their last Planning Board meeting. Before that, the only notable item on the agenda was the Cayuga Ridge renovation, which is primarily internal. Their October Building and Codes Department report indicates a single two-family home was approved, in the Cleveland Estates housing subdivision; virtually all of those duplexes have been intended as student housing.

2. If there is one town that is rather busy next week, it would have to be Lansing. The surface facilities for the new Cargill mine shaft are up for final approval at the Planning Board meeting next Tuesday, more discussion is expected about the Milton Meadows affordable housing plan at the town center, and a couple of minor projects (communications tower, illuminated free-standing sign) are up for review and vote. Neither Cargill not Milton Meadows appear to have changed significantly since their last presentations.

Also scheduled is review of public comments regarding the Comprehensive Plan, which cover several topics, with the most frequent being the Bell Station zoning (park vs. lakeshore low density) and some individuals unhappy with the potential for mixed-use or residential development near their homes or farms. Joe Wetmore has a pretty thorough critique, ranging from unrealistic expectations to discomfort with what he calls “segregated housing” based on income and age. Going political for a moment, I suspect if it weren’t for many progressive town and village boards rushing to join the Article 78 on Cargill, with less than careful thought and discussion of Cargill’s blue-collar workers and their family/friends, Wetmore would be an incoming town councilman (and to be fair, he may end up winning when the absentee ballots are counted and tallied next week).

3. Over in Dryden, just about everything is good to go with Modern Living Rentals’ 42-unit rental complex planned for 802 Dryden Road, next to the Cornell arboretum. The November tweaks were for lighting, landscaping and sidewalk details. The designs of the townhouse strings were reworked in October to include three different designs, to be used twice each (six buildings, seven units each, 42 units/108 bedrooms total). While the materials remain the same, the designs differ substantially in roof lines, architectural detailing and fenestration pattern. At this point, no one would mistake for a recycling of 902 Dryden as they started off as; John Snyder and his team have had the chance to express themselves, and the designs are contemporary and visually interesting. It looks like final approval will be coming potentially soon, which will permit a Spring 2018 – Summer 2019 construction time-frame.

Other than that, the town is reviewing another Tiny Timbers subdivision, this one for 1540 Ellis Hollow Drive. Similar to its counterpart just down the street at 1624 Ellis Hollow Drive, the long, narrow lot would be serviced with an internal driveway for five homes with a little over an acre each, and the rear (northern) 5 acres would be granted a conservation easement, to remain natural space and help protect the Fall Creek watershed. The original plan was a deed restriction, but the town’s conservation board is pushing the easement so that future owners of the land can’t just lift the restriction. They also requested an S-shaped driveway because they feel the slope is greater than Dolph states; an S-shape would also throw the plans out of whack, so let’s see what happens.

On a final brief note, review and discussion is ongoing for a pair of solar arrays off of 2243 Dryden Road, one of 1.3 MW and one of 2 MW.

4. Looking at what’s on the market this week, here’s something for the deep-pocketed investor/landlord who wants to start with an all-new, low-maintenance building. 6-unit 707 East Seneca Street is on the market for $2,999,000. The 6,469 SF apartment building was built just two years ago, after developer Todd Fox bought city surplus land that was once a playground for the closed East Hill Elementary, deeded to the city in 1982 and promptly forgotten for decades until potential liability risks convinced the city to put it up for sale. Each unit is three bedrooms, and according to the advertisement, it generates over $220k in revenue each year, which is not shabby.The property is assessed at $1 million.

It’s a bit surprising that Fox would want to part with a nearly-new building with solid rental potential, and it makes me curious if the funds would be used to fund other Visum projects planned or approved. While Fox did take a financial hit from the cancelled 311 College Avenue project, the amount invested was far less than the sale price for 707 here.

5. Also worth noting, though it’s not good news – The Computing Center’s plans to build a new 4,600 SF headquarters appear to be over. The building site and the approved building plans at Lansing’s 987 Warren Road are up for sale. $499,000 gets you 1.57 acres, the plans, and a single-family home on the eastern end of the property that generates $2,000/month. The project had received an $85,084 tax abatement for the $1.394 million project, which was expected to create six new jobs. For the record, any buyer would need to re-apply for an abatement; the one granted will go unused. At least offhand, it looks like they may have added the jobs (retain 14, add 6, and the website shows nineteen plus the retired founder, and two job postings), but it’s uncertain – they acquired a competitor (Sherpa Technologies) in September, which increased staff to 22. Based off the time of the listing, with the acquisition of Sherpa they may have just led TCC to go a different direction with a new headquarters. What will be, will be.

6. According to construction loan documents filed with Tompkins County, the new 11,180 SF Rite Aid being built at 79 North Street carried with it a $2.71 million price tag. Chemung Canal Trust Company, an Elmira-based bank with branches in Tompkins County, is providing the loan to Dryden Group LLC/Ellicott Development. Ellicott, a major developer out in Buffalo, will be using an in-house contractor team to build out the retail space.

A couple of emails came in asking if this would be a Walgreen’s. On paper, that’s a no – everything filed and documented says Rite Aid, and this was confirmed with the town planning staff. However, Walgreen’s is in the process of acquiring 1,932 Rite Aid stores (leaving Rite Aid with 2,600), and closing several hundred stores that are within close proximity to existing Walgreen’s. It’s possible that the existing Dryden Rite Aid is one of those to be “shut down as part of the sale” as the new Rite Aid-turned-Walgreen’s is being built on the north end of the village. Keep an eye on it.

7. Quick little side note – Ithaca Associates LLC, the development team behind the $110 million Green Street Garage project, is apparently in talks with INHS to manage its affordable housing component. That’s according to Ithaca Urban Renewal Agency (IURA) meeting minutes. So they are serious about meeting the city’s demand for affordable housing with some undetermined percentage of the 365 units. Heck, 60 or 70 units would be a sizable contribution, should it pan out, and it would make the project more palatable since it would clearly have a mixed-income aspect to go with its mixed uses.

8. The Ithaca Landmarks Preservation Commission will be taking up discussion again on the Nines, though they are less than pleased with the recent 5-5 tie vote the Common Council had on the Chacona block, broken by the mayor’s vote against historic designation. For me, the fascinating part was having someone like Cynthia Brock, typically opposed to greater density, speak in favor, while pro-development councilors like Ducson Nguyen and Seph Murtagh voted in favor of historic designation. So, it was an unusual breakdown of votes that I would not have predicted, although I had heard before the meeting that it would likely be a close vote.

There is no doubt that anything Student Agencies submits will be scrutinized extra closely, especially if they try to maximize square footage or incorporate design features that don’t mesh with neighboring structures. It’s fair to say that while they lucked out with being allowed to redevelop, the resentment already stirred up means anything proposed will be starting behind the proverbial eight ball, and they would be wise to really put their best foot forward and not rush plans.

Interestingly, it looks like someone, likely but not confirmed to be the Reach Project social service group, plans to submit concept designs for the carriage house that once stood behind the house at 310 West State Street. This is a historic district, so any designs for the drug treatment and potential safe heroin injection “harm reduction” site would need to be approved by the ILPC.

It’s been amusing and a bit excruciating to see some of the comments on the Voice – some people are all about historic buildings; but it tortures them to see these venerable structures used for what they see as a less-enlightened cause than a high-end B&B or boutique office. If zoning laws (and higher authorities, in this case) okay it, so be it. Many historic buildings have humdrum or low-brow histories as factories, home businesses or tenements, and to say they can’t be used for something permitted just because it seems icky is not only illegal, it denies part of the historical element.

7. Intriguing, though I have questions – the city is looking at expanding the use of PUDs from beyond the few industrial zones to city-wide so long as properties are 2 acres. They’re also looking at expanding CIITAP to allow 1-story industrial and waterfront projects, as well as an affordable housing component of 20% on all residential or mixed-use projects with residential components of 10 units or more.

The PUD plan comes on the heels of the new Waterfront zones, which allow residential uses on a greater number of parcels, and is in fact the recommendation of the Waterfront Working Group (WWG), a 17-member group of staff and public who reviewed planned zoning changes to the Waterfront. The city planning staff are amenable, though they suggest a minimum acreage of 2 acres.

With the proposed CIITAP change, the reasoning makes sense, although its effectiveness is questionable. Industrial construction is locally limited and is usually build-to-suit for a specific client. There’s also a strong preference to less dense areas with easy access with lower land values, like Lansing or Dryden. More power to the city I guess, I just don’t see it being utilized. As for the housing component, the intent is good, but the issue always ends up being an issue of “moreness”. Developers often have to build bigger to re-balance expenses and revenue within mixed-income structures. This can make it tougher for them to get financing since it’s a larger, more costly build-out (a bigger financial risk, all other things being equal). Residents in turn balk at a bigger project with the traffic, aesthetic changes and other impacts it creates, not to mention some still instinctively sneer at affordable housing, mixed-income or not. It’s not an outright deal-breaker, but it is something to keep in mind.

The PUD can be troublesome since it’s a sort of “DIY zoning”, which would make existing rules pointless and a lot of upset voters if allowed without some big stipulations. 2 acres would limit many projects in the core of the city, but if you happen to be, say, a major landowner along the Waterfront or in the vicinity, like Guthrie or Cayuga Medical Center, it’s basically a red carpet invitation, as it allows them to set the bounds for a project. Notably, neither of those two fall within CIITAP’s boundaries, so while they wouldn’t be eligible for the tax abatement, they also don’t have to worry about the affordable housing component if they choose to do something with housing in the mix.

 





Ithaka Terraces Construction Update, 9/2017

3 10 2017

So we have a rule at the Voice not to publish the press releases of private for-profit entities unless they add something to an article. They don’t get published as standalones, if at all. From a pragmatic standpoint, giving a for-profit free advertising at our expense doesn’t make good financial sense, and it leads to questions about our integrity.

But, they still come in, filed away in case they come in handy at some point. That was the case here for the press release sent along by Brous Consulting’s Kevin Doubleday for the Ithaka Terraces project back on September 11th:

***

For Immediate Release: September 11th, 2017

Contact: Kyle Waller at 607-272-1765 or office@ppmhomes.com.

ITHAKA TERRACES CONDOMINIUM PROJECT GAINS APPROVALS NEEDED TO PROVIDE FIRST CONDOS AND FIRST NET-ZERO PROPERTY IN DOWNTOWN ITHACA

Ithaka Terraces is a new sustainable luxury condominium complex in downtown Ithaca, currently under construction at 215 West Spencer Street. Scheduled to open in Fall 2017, the Terraces are destined to be the region’s first net-zero condominium complex. The property is currently undergoing last-stage developments with units now available for sale through locally owned and operated PPM Homes. The project is also one of only a few condominium projects to be built in the area since the most recent recession.

The twelve unique units, inspired by colorful Greek cliffside architecture, thus the Ithaka name, range in size from a single story, 1005 square feet flat up to a two-story townhouse, 1520 square feet and boast high-end amenities including hardwood and tile flooring, luxury finishes, and a host of energy-saving appliances. Units start at $299,000.

Combining cutting edge green technology with a walkable location, a car-free or car-light lifestyle is easily attainable. The motivation to build Ithaka Terraces came from the developer’s desire to provide the maximum possible state-of-the-art sustainable living with the highest emphasis on achieving net-zero energy. Hence, no costs were spared to find and take advantage of opportunities in the design and building process to incorporate the most advanced sustainable techniques. The potential for reduced energy use is in place in these condominiums, making the inhabitants able to maintain one of the lowest environmental impacts and costs possible anywhere with a fantastic and active quality of life.

Ithaka Terraces strives to incorporate the most sustainable construction methods and living technology. This includes the use of air-source heat pumps, conduction ranges, LED lighting, electric water heaters, Low-E windows, super-insulated walls and roofs, smart temperature monitoring devices, and other energy-saving devices.

Further green features are available for even greater sustainable living at the Terraces, including charging stations for electric vehicles and at least six Ithaca Carshare vehicles stationed within walking distance. Transportation for the average household is likely to use more energy than the home itself. The Terrace’s convenient location makes it simple to reduce transportation energy use significantly by allowing cars to be an option rather than a necessity for the vast majority of trips.

Because of recent net-metering laws passed by New York State, off-site solar power can be provided to homes in cities from solar arrays outside the city, which makes net-zero living possible. All the energy used at Ithaka Terraces will be provided by solar power from PPM Homes’ 225 kw (835 panels) solar farm about 15 miles east of Ithaca.

Ed Cope, owner of PPM Homes and team leader of the Ithaka Terraces team, has been active in environmental and sustainability causes for forty years.  He started an environmental center in Indiana 25 years ago and he and his family live off grid, using power only from renewable energy (solar panels and some wind).  He started Energy Independent Caroline as part of his early efforts to switch the Caroline town government to renewable energy for its power use.  

One of his apartment buildings on South Hill was the first commercial roof-top solar installation in Ithaca. Ed has strived to build housing units so energy efficient that their entire energy use can come from his small solar farm outside Ithaca; truly net-zero energy. Additional team members include Stream Collaborative, Taitem Engineering, Renovus Solar, and TG Miller and Associates. The project is being managed by Kyle Waller at PPM homes.

For more information on Ithaka Terraces, you can visit: www.ithakaterraces.com or contact Kyle Waller at 272-1765 or office@pphomes.com.

END.

***

It looks like they might be doing soft marketing of the units, with a brochure up and inquiries allowed, but no formal listings up yet. The Ithaka Terraces website states that prices will be in the $299,000-$434,000 range, a ~10% jump from previous estimates. Units range in size from 1,005 SF to 1,520 SF. Ten are two-bedroom units, two are three-bedroom units.

Buildings A and C look like they’re getting the scratch coat for its stucco finish, while B is still ZIP panels and waterproofed covers. Framing is still underway for Building D, which started much later than the other three.offhand, I think the shingles are from one of Certaineed’s designer series, here in Cottage Red. The formwork along the east side/upper slope may be for a concrete retaining wall that will hold the hill back from the parking area.





607 South Aurora Street Construction Update, 9/2017

2 10 2017

Landscaped, occupied, done. Modern Living Rentals’ infill project at 607 South Aurora Street on South Hill adds another 25 beds to the market, in four new two-family homes and a renovated existing home.

Strictly looking at the project, it’s pretty unassuming. This armchair critic thinks these turned out nicer than the ones on Elmira Road, though a greater splash of color on the siding would have been nice. The brackets and full-length porch are welcome additions on the Aurora Street structure.

If someone had told me 217 Columbia’s two-family infill would cause such a stir, I would have been surprised, since it’s a small project, and this and the Elmira Road pair didn’t create much a stir during the review process. But sometimes, after multiple projects of similar format, all it takes is one more to stir up enough consternation to snowball into a full-blown controversy.

I’m not going to fault anyone there. MLR’s Charlie O’Connor saw an opportunity and went for it. He is arguably one of the most reticent developers in Ithaca, preferring unobtrusive projects that he hopes will create as little debate as possible. It’s kinda funny in a way, because although he’s a business partner with Todd Fox (Visum’s property management is handled by MLR), the two of them are near-opposites in that regard. He paid a fair sum for 217 Columbia Street, so he doesn’t want to walk away from the investment, but he’ll do whatever it takes to make the neighbors happy short of cancelling the project. At last check, there was a proposal to stipulate the two three-bedroom units would not be permitted to student renters, and that the building would be stick-built and designed to better fit with the older structures of the neighborhood.

On the other side, permanent residents have a right to be annoyed if the perceived balance between students and non-students starts to shift and harm their quality of life. The neighborhood, like many of Ithaca’s more walkable parts, has experienced significant upward pressure on housing prices, and rental infill units can be a double-edged sword because the individual property is priced out of reach for homeowners (for-sale infill would be a different story). Even with the owner-occupied properties, there’s a strong whiff of gentrification, turning what was once a blue-collar neighborhood serving downtown shoppers and Morse Chain into a hodgepodge of increasing number of student rentals, and more white-collar, deep-pocketed households.

Somewhat incongruous to all this is that Ithaca College’s student population has declined almost 10% since 2010, which would suggest less pressure for student rentals; however, many of the college dorms date from the 1960s, and the utilities systems need replacement – some are already on their last legs, and that may limit occupancy as they sputter into obsolescenceThe college and students are aware of the discord and are trying to address it gently; more extreme measures like curtailing the ability or capping the number of students who can live off-campus might create major blowback, something the college may be actively trying to avoid after last year’s turmoil. A new dorm or two would help, but even modular temporary dorms can cost a fair sum, and there is nothing planned in the short-term. A long-term question mark is the impact of the Chain Works District, but that’s a few years out at best.

Landlords should at least be cognizant of this tension (and the ones on South Hill tend to be a mixed bag, to be honest), because if things turn south and the college does take drastic measures, units are going to become much harder to fill at current monthly rates. Town officials and voters were unhappy with the quality and appearance of new housing built in the Birdseye View development and in the Pennsylvania-Kendall Avenue corridor, and that contributed to the push to curtail student housing in the town’s portion of South Hill.

The local community is not easygoing or forgiving. If you do crap work, crap will hit the fan sooner or later. Even if you do good work like 607 South Aurora here, it pays to be attentive and flexible.

While legal language is being prepared for an overlay that would prevent more than one primary structure on South Hill properties until a new neighborhood plan is developed (2-3 years minimum), 217 Columbia had already started review before that was considered, so in effect it’s grandfathered in, even if it hasn’t started construction before the overlay likely gets passed by PEDC this month and Common Council in November.





News Tidbits 8/12/17: Two Kinds of Rehab

12 08 2017

1. It looks like some Trumansburg residents want to build a recreational complex. According to the Ithaca Times’ Jamie Swinnerton, for the civic group Trumansburg Community Recration, “{t}he ultimate goal is to build a recreation center, soccer fields, baseball fields, a youth football field, a skate park, and a pool to the community. The first phase of the project would be building the sports fields and possibly a recreational campus. While the group is still searching for space for these amenities, it is raising funds through grants and donations. The fundraising goal right now is $750,000.”

Along with private donations, the community advocacy organization is seeking state funds, which state law requires be obtained via municipal entities, i.e. the village, school district, town and county. It’s not that governing bodies have to commit money, they just have to express support and sign off on applications, and allocate the awarded funds if/when they are received.

Phase two for the non-profit would be a community center, likely a re-purposed building, and phase three would be a pool, which is garnering significant community attention. Although the group hasn’t committed to a location (the rendering is completely conceptual), it is examining the feasibility of different sites in and around Trumansburg. Interested folks can contact or donate to the group here, or sign up for emails if they so like.

2. Cayuga Addiction Recovery Services (CARS) has finally received the money from a July 2016 grant award. Cayuga Addiction Recovery Services (CARS) will be using it toward a new 25-bed adult residential facility. The new facility will be built on the Trumansburg campus adjacent to a 60-bed facility on Mecklenburg Road, near the county line a couple miles to the southwest of Trumansburg. An undisclosed number of jobs are expected to be created. Founded in a Cornell U. fraternity house in 1972, CARS provides treatment, counseling, skills training and support services to help clients overcome addictions and rebuild lives. The current facility was opened in 2004.

While the location is quite rural, the nature of the facility (rehab, focus on opioid abuse) is getting pushback from at least one town board member who doesn’t want it in the town (link, scroll down to 7-25-TB minutes). The plan has yet to go before the Ulysses planning board.

3. INHS made its name on home rehabs, and it looks to be making a return to its roots. The non-profit developer is asking the IURA for $41,378 towards the renovation of an existing 3-bedroom house on 828 Hector Street, which will then be sold to a low-moderate income family (80% AMI, about $41,000/year) and locked into the Community Housing Trust.

The project cost is $238,041. $152,000 to buy the foreclosed property from Alternatives Federal Credit Union, $8,000 in closing/related costs, $60,000 in renovations, $5,000 contingency, $8,141 in other costs (legal/engineering), and $4,900 in marketing/realtor fees. The funding sources would be $144,163 from the sale, $15,000 from INHS’s loan fund (to cover the down payment for the buyer), $37,500 in equity and the $41,378 grant. A for-profit could renovate for cheaper, but federal and state guidelines say INHS has to hire those with a $1 million of liability insurance coverage, which takes many small contractors out of the equation.

Side note, the city’s federal grant funding disbursement was dropped by $50,000, because HUD is an easy target in Washington. Luckily, Lakeview decided to forego its grant funds because they found the federal regulations unwieldy, which freed up a little over $43k to move around to cover most of the losses.

4. Speaking of Hector Street, it looks like Tiny Timbers is rolling out a pair of new spec plans for two lots on the city’s portion of West Hill. The house on the left, for 0.27 acre Lot 1, is a 1,040 SF 2 BD/1BA design listed at 187,900, which is a good value for a new house in the city. 0.26 acre Lot 2 is a 3 BD/2 BA 1,370 SF home listed at $222,900. Taking a guess based on the lot sizes, these are the wooded vacant lots west of 920 Hector. There’s a third vacant lot over there, but no listing yet.

5. On the city’s Project Review Committee meeting agenda, which is the same as the memo…not much. Lakeview’s 60-unit affordable housing project on the 700 Block of West Court Street will have its public hearing and determination of envrionmental significance, the last step in SEQR and the one before preliminary approval. Same goes for INHS’s 13-unit project on the 200 Block of Elm Street.

Apart from related or minor zoning variances and review of proposed historic designation in Collegetown for the Chacona and Larkin Buildings (411-415 College and 403 College), the only other project for review is 217 Columbia, Charlie O’Connor’s. Which, as covered by my Voice colleague Kelsey O’Connor and by Matt Butler at the Times, did not go over well, though Charlie seemed willing to change plans to avert a firestorm. From a practical standpoint, I’d imagine he’s much more focused on his much larger 802 Dryden Road project, and this is small if hot potatoes. The 6-bedroom duplex (three beds each) is designed by Ithaca architect John Snyder.

My own feeling is that a moratorium isn’t the answer, but if they wanted to roll out another TM-PUD so that Common Council gets to review plans as well as the Planning Board, then so be it. My issue with moratoriums is that local municipalities do a terrible job sticking to timelines and have to extend them again and again. Plus, there are projects like the Ithaka Terraces condos, or the new Tiny Timber single-family going up on Grandview, that aren’t the focus of the debate but would be ensnared by a blanket moratorium.

Meanwhile in the town, the planning board discussion for next week will mostly focus on the NRP Ithaca Townhouses on West Hill. The revisions will be up for final approval, which would allow NRP to move forward with their 2018-19 Phase 1 buildout (66 units and a community center). Phase II (39 units) will follow in 2019-20.

6. In sales this week, the big one appears to be 808 East Seneca – 5 unit, 4,125 SF historic property just west of Collegetown in Ithaca’s East Hill neighborhood. List price was $1.575 million, and it sold for modestly less, $1.45 million, which is well above the $900,000 tax assessment. The sellers were a local couple had owned the property since 1982, and the buyer is an LLC formed by the Halkiopoulos family, one of Collegetown’s old Greek families, and medium-sized landlords with a number of other houses in the area.

Perhaps more intriguing is the sale of 452 Floral Avenue for $100,000 to home builder Carl Lupo. The vacant 4.15 acre property had been the site of a 30-unit affordable owner-occupied project back in 1992, but given that the Ithaca economy was faltering in the early 1990s, the plans never moved forward.

7. A quick update from the Lansing Star about the Park Grove Realty lawsuit. While the Jonson family of developers may have lost the village elections by a large margin, their lawsuit accusing the village of an illegal zoning change to permit the project has been reviewed by the state’s court system – and they lost. The state supreme court ruled the zoning change was perfectly legal, appropriate to the revised Comprehensive Plan, and accusations of negative impacts on the Jonsons’ Heights of Lansing project are overblown and speculative.

The Jonsons intend to file an appeal, and have to send in their final draft by September 5th. At this point, the project is left in a waiting pattern – the village is leaving the public hearing open until the appeal is resolved. If the appeal overturns the ruling, than the project can’t proceed regardless of village approval. Given the basis for the initial ruling, an overturning seems unlikely, but it will be a few more months before any approvals can be granted.





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.