Vacant Binghamton Car Lot May Become Apartment Complex
A car dealership built in 1970 at the west end of the Clinton Street Bridge may soon be the site of 115 market-rate apartments.
Walison Corporation of Mount Vernon, New York is looking to develop the former Gault car dealership on Front Street and city-owned lots on Elizabeth and Oak Streets into a $20-million housing project. The plans need City Council approval.
Local development officials say the project could help a serious need for market-rate housing in the region.
While the new development is expected to be aimed at professionals, a recent study by the Safe Housing Task Force discussed in a recent edition of Southern Tier Close Up found an abundance of luxury and student housing stock but low and moderate income units were sorely lacking.
The planned development on the roughly one-acre car lot site calls for the one to three-bedroom apartments to rent from $850 to almost $1,400 with commercial space in one of the two planned buildings.
The location has been vacant for about ten years and a recent real estate listing put a price on the car lot at two-million dollars.