(BINGHAMTON, N.Y.) –- (RealEstateRama) — Mayor Richard C. David today announced an $11 million affordable housing rehabilitation project in the “North of Main St.” neighborhood, delivering investment and stability to one of Binghamton’s most troubled areas.
“We’re bringing hope and revitalization to one of our most troubled neighborhoods,” said Mayor Richard C. David. “It’s not enough just to talk about challenges with crime and housing facing Binghamton’s low-income neighborhoods. We must bring partners together to change the status quo and transform the community. This project will not only provide safe and affordable housing, but also create a tipping point to stabilize the neighborhood by reducing blight and establishing a local landlord to work responsibly with the City. It means fewer children and families living in deteriorating, sometimes dangerous, conditions. I thank Governor Cuomo and New York State Homes and Community Renewal for supporting this vision in Binghamton.”
The $11 million Crandall & North Street Revitalization Plan contains two separate projects:
· Rehabilitation of 11 existing multifamily properties on Crandall St. — including four vacant homes — to create 40 affordable housing units.
· Restoration of the historic but dilapidated building at 47 North St., built in the 1870s and known as the Sturtevant House. This project, which saves the landmark from demolition, will restore the building to historic standards and create affordable housing with first-floor community space to be operated by the United Way of Broome County as part of its anti-poverty program.
Both initiatives emerged from a work group created by Mayor David to support Safe Streets, a community organization that focuses on improving public safety and quality of life on the West Side north of Main St. Rescuing 47 North St. and creating a neighborhood anchor, as well as improving neighborhood housing options, were identified as top priorities. The City took ownership of 47 North St. and secured grant funding to rebuild the housing stock on Crandall Street.
The First Ward Action Council, Inc. will spearhead redevelopment efforts and manage the properties. The local non-profit manages 177 units of affordable housing in the City and has a track record of success leading community development projects, most recently the $8 million Gateway Homes project on Front Street completed last year.
“This project represents Mayor David’s action-oriented vision for improving our neighborhoods,” said Jerry Willard, Executive Director of the First Ward Action Council. “The Crandall & North Street Revitalization will be a catalyst for the immediate neighborhood and have wider impacts on the integrity of the West Side. We’re taking an area currently known for drugs and dilapidated houses and reshaping it as a positive community anchor.”
Since 2012, Binghamton Police have responded 1,479 times to the Crandall St. block that will be rehabilitated as part of the project. The street has historically hosted narcotics activity and violent incidents and has been an epicenter for criminal enterprises across the City, according to police.
First Ward Action Council will take ownership of the properties and construction is slated to begin late fall 2017.
The $11 million project will be funded through a combination of state, local and private resources. Costs include acquisition of property and construction.
In addition to $5.3 million in private financing, New York Homes and Community Renewal is providing $4.2 million in low-income housing tax credits and other community investment funds. The City of Binghamton has committed $100,000 in HOME Investment Funds and the Broome County Land Bank has committed $170,000 in rehabilitation funds.
“I was proud to offer my support of this project, which will focus state and local resources on taking back one of our most crime-ridden and blighted neighborhoods,” said Senator Fred Akshar. “I’m proud to share Mayor David’s vision for this community. When work on Crandall Street and North Street is done, the neighborhood will be a safer, better place for our residents to live and raise their children.”
“The First Ward Action Council has had tremendous success in bringing new life to older neighborhoods, most recently with the Front Street Gateway Homes project,” said Assemblywoman Donna Lupardo. “The partnership between the First Ward Action Council and the United Way is an especially strong one for the City. This project will help provide affordable housing and community support systems for an impoverished area in need of attention.”
“This partnership with Mayor David and the First Ward Action Council is exactly in line with the mission of the Broome County Land Bank,” said Broome County Legislature Chairman Daniel J. Reynolds. “Fostering economic development and stronger neighborhoods through blight reduction and investment in our community.”
The properties being rehabilitated:
· 6 Crandall St.
· 8 Crandall St.
· 9 Crandall St.
· 10 Crandall St.
· 12 Crandall St.
· 14 Crandall St.
· 16 Crandall St.
· 18 Crandall St.
· 20 Crandall St.
· 22 Crandall St.
· 24 Crandall St.
· 47 North St.