$38-Million Plan to Buy and Improve Town & Country Apartments
An apartment complex in the City of Binghamton is poised to be sold to a Boston developer who plans extensive renovations.
City and local economic development officials joined the president of JE Properties, Joseph Eddy July 12 to announce the $38-million plans for the Town and Country Apartments on the North Side.
JE Properties’ renovations list includes everything from washing the brick facades to new kitchens and bathrooms, roof repairs, new security measures and creating accessible units where there currently are none.
Officials say the work is expected to take two years with no permanent displacement of residents.
The announcement from the City says JE Properties has applied for low-income housing tax credits through the New York State Homes and Community Renewal’s Housing Finance Agency in order to ensure “all units of the apartment complex will remain affordable.”
The Town & Country apartment complex sits on 8-and-a-half acres, was built in 1963 and has 253 units spread across 22 buildings.
The complex has a long history with law enforcement including the fatal shooting of 19-year-old Scott Wright Junior in 2014 which prompted Mayor Richard David to call for a public safety review for what he has called “perhaps the most troubled apartment complex in Binghamton.”