Visions Credit Union May Anchor New Downtown Binghamton Building
The Binghamton planning commission has approved a scaled-down mixed use structure that a developer wants to build at a key downtown intersection.
The panel has given the go-ahead for construction of a two-story building on the southeast corner of Court and State streets.
For several years, Mark Yonaty had been planning to build a five-story structure at the city-owned site where the O'Neil and Ross buildings once stood.
Yonaty's most recent proposal had called for commercial space on the street level and 20 apartment units on the four upper floors.
The developer said his updated plans call for five residential units on the second floor with space for two commercial tenants on the first floor.
Yonaty told the planning commission that Visions Federal Credit Union is expected to be one of the tenants. He said Visions ultimately might use all of the commercial space.
The project cost now is estimated at between $3 million and $3.2 million. The price tag for the larger project was expected to be about $5 million.
Yonaty said he downsized the project because of changes that have occurred in recent years, including the planned development of an apartment complex above the proposed new Water Street parking garage.
Now that the planning commission has approved his revised plans, Yonaty said he'll line up a general contractor for the project.
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