An abandoned Binghamton building that once served as a hotel could be converted into residential, retail and office space.

The board of directors of the Broome County Land Bank Corporation has accepted Newman Development Group's proposal for the site at 50 Front Street on the city's West Side.

The building, which has been idle for about three years, recently was acquired by the Land Bank Corporation.

Vestal-based Newman Development has proposed putting up to 125 apartments into the structure, which once was a Sheraton Inn.

It most recently served as housing for seniors and people with special needs. It also once was home to the offices and studios of WBNG-TV.

The Newman plan suggests some retail and office space could be part of the project.

According to the Land Bank Corporation, Newman Development submitted the only redevelopment proposal for the building.

Stacey Duncan, Land Bank Corporation executive director, said the agency is still discussing a potential sales agreement with Newman. No financial details of the planned project have been made public.

The Land Bank board is expected to designate Newman Development as the preferred developer for the property at a May 27 meeting.