State Approves Financing for Binghamton Housing Project
A plan to build a 48-unit apartment complex on Binghamton's North Side is receiving a boost from New York State government.
Officials say $4.7 million in financing has been approved for the project that would be built on the site of the former Big Lots plaza at 435 State Street.
Bruce Levine of 3D Development Group of Amherst said construction could begin in September. He said the total project cost will be about $20.5 million.
3D Development has been working with the Binghamton Housing Authority to develop the complex at the abandoned property.
Levine said he expects final construction drawings will be developed over the next several weeks.
Brownfield remediation paperwork must be finalized with the state Department of Environmental Conservation.
Levine said construction on the project likely will take 12 to 14 months to complete.
In addition to the apartments, the complex will include about 15,000 square feet in commercial space.