Two recent Binghamton University graduates have announced plans to renovate a five-story downtown building. The project will create twelve modern apartments at 73 Court Street.

The $2.5 million project is being undertaken by Fortress Development Group, a New York City-based real estate management firm owned by Syed Ali and Adam Ibrahim.

The developers say renovation work is expected to start in September. The project should be finished early next year.

While the top four floors of the structure will have apartments, the first floor will continue to be used for commercial purposes.

The developers are planning to seek state and federal sustainable building grants for the project.

For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.