City Receives State Funds to Study Binghamton Plaza Site Options

A $75,000 state grant has been approved to enable the city of Binghamton to create a detailed redevelopment plan for commercial property on the North Side.

Mayor Jared Kraham said the money will be used to pay for a study on new uses for the Binghamton Plaza site on West State Street.

The city is working to obtain control of the property using the eminent domain process. Galesi Realty Corporation, the New Jersey-based company that owns the plaza site, has been offered about $1.5 million.

The owners face an early-November deadline to decide whether to accept the offer or to continue to fight the takeover in court.

Kraham said the funding for the study is a signal that state officials are "coalescing" around the city's project to demolish the Binghamton Plaza site "to really jump-start revitalization on the North Side."

The mayor said the city applied for the state funding several months ago. Kraham said after the grant is accepted by City Council, a request for proposals will be issued to find a firm to develop the plan.

Kraham said he's looking forward to demolition of the plaza, which he described as "one of the worst blighted properties in Broome County."

The demolition cost has been estimated at $2 million. That amount was allocated in the city's 2025 budget.

The mayor said removal of the existing structures would provide access to the riverfront and clear the way for possible expansion of Cheri Lindsey Park. He said it also would clear the way for potential new economic development at the site.

Kraham said the city expects to take control of the Binghamton Plaza property later this year. He said there's been no response from the owners since the city made its formal offer of payment for the site.

The mayor Monday afternoon said the owners have "in my view, been operating the same way they have for decades - not really caring about the plaza."

WNBF NEWS VIDEO: Mayor Kraham discussed the situation involving the site at City Hall on August 11, 2025.

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Contact WNBF News reporter Bob Joseph: bob@wnbf.com or call (607) 545-2250. For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.