Binghamton Retail, Hotel Complex Planned
A former state DOT garage is on the site of a proposed retail complex on Binghamton's North Side. [Bob Joseph/WNBF News][/caption]
An Albany-area developer is planning to turn an abandoned site on Binghamton's East Side into a complex that will include stores, restaurants and a hotel.
Jeffrey Hyman discussed the redevelopment plan during a "Binghamton Now" interview on September 8, 2016. [Bob Joseph/WNBF News][/caption]
Jeffrey Hyman announced a $70 million project to redevelop the old Stow Manufacturing property northwest of Frederick and Montgomery streets.
Hyman last year had explored the possibility of seeking a license to develop a casino at the site but he ultimately shelved that idea.
Speaking on WNBF Radio's Binghamton Now program Thursday morning, Hyman said the new development plan calls for 250,000 square feet of retail space and a 120-room hotel.
Hyman said planned changes at the nearby Route 17/Interstate 81 interchange will make the site accessible.
The developer said the retail complex would have a "town center feel" with an "inviting, contoured look." He compared it to Stuyvesant Plaza in the Town of Guilderland, west of Albany.
Hyman said he hoped environmental remediation work at the project site could start by the end of the year. He said groundbreaking could occur next year with occupancy of the complex projected for 2018.
The state has designated the site as a Brownfield Opportunity Area, which means it will be eligible cleanup funding.
One of the abandoned buildings on the site once was used as a garage by the state Department of Transportation.
The site of the proposed $70 million project has been unused for several years. [Bob Joseph/WNBF News][/caption]
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