Local business development on the horizon for the New Year

As we approach the end of 2016 and the beginning of the New Year, the community will be seeing some changes on the horizon as several businesses prepare to expand, build, renovate and open.

There are several projects that could potentially be moving forward in the coming year thanks to various state grants and economic development programs. And one project, which began last year, is nearing its completion and will be ready to open in the next month.

The business projects we looked at for this feature include the new Owego Gardens apartments, located on Southside Drive and across the Court Street bridge; the possible build of upscale apartments and shops within the space known as the Gateway on Front Street in Owego; renovations to the Parkview Hotel so it can be transformed back into an historic hotel; and a project by Adam Weitsman to build a heavy media plant.

And the development of these projects has been assisted through Tioga County’s Economic Development staff as they work to find funding and grants that will assist investors and owners in building our community, and to create jobs.

Gateway Project

The first building project we looked at is the proposed project on Front Street in Owego by Nelson Development Group. The company, owned by Bruce Nelson, would construct an infill Gateway building that the Cracker Barrel once occupied on Front Street.

The building was completely destroyed by a fire in 2000 and was demolished. Since that time, a deck was built and the space has been utilized by the community for markets and special events.

If awarded several grants, applied for through Economic Development, the project will move forward. LeeAnn Tinney, Economic Development director for Tioga County, stated that if awarded, the start date for the project could be as early as July 2017.

The grants applied for, Tinney explained, include a Restore NY grant for $500,000. “We should hear something by the end of this year,” said Tinney, regarding this grant.

A Housing Community Renewal grant was also applied for, and that grant will be reviewed in the spring.

The $2.7 million project will construct a 13,600 square foot building with three floors at the Gateway location. The first floor will have retail space and public bathrooms, a Riverwalk overlook, and then apartments on the two floors above this. The rooftop will contain a roof access with a small sitting area. 

If the grants are approved and the project moves forward, according to Tinney, the new development will also benefit from the Industrial Development Agency’s PILOT program, in which taxes will begin at a lower rate and then increase each year over a period of time.

Bruce Nelson’s project that transformed 231 Main St. into apartments was also part of the PILOT program; but that project differed, as there were zero taxes applied for the first ten years, and then increases each year after that.

Owego Gardens Apartments

The construction of the Owego Gardens Apartments, located on Southside Drive in Owego, is nearing completion and tenants will be moving in over the next couple of months.

The project, through Home Leasing out of Rochester, N.Y., constructed a 62-unit complex for residents that are 55 and older. 

According to Tinney, applicants are now getting verified, and notices have been sent out to most of the prospective tenants.

The townhouse-style complex received funding from New York State Housing and Community Renewal and will feature a fitness center, raised garden beds, a community room, laundry room and views overlooking the Susquehanna River.

To qualify for the funding of the New York State Housing and Community Renewal funding, the company had to agree to rent, for a period of 30 years, to low income individuals. The units, according to Tinney, will be a mix.

“There will be some low-income units, some mid-income, and some full-income rates,” said Tinney. 

Because the funding came from a Community Development Block grant, accommodating lower income levels was a requirement, according to Tinney, adding, “To build, they had to accept lower income levels for a minimum of thirty years.” 

Tinney also noted that the gap in the income levels will not be subsidized by any government sources, and there will be no additional cost to the taxpayers.

To learn more about the Owego Gardens Apartments, you can call (607) 302-0015.

Upstate Shredding 

In October of this year, Upstate Shredding announced the construction of its new heavy media plant in Owego with the assistance of a $1 million NY ESD grant awarded earlier in the year from the State of New York. The Southern Tier was one of three regions awarded $500 million in $1.5 billion Upstate New York revitalization funding. 

When the funding was awarded, it included a capital investment of $5.4 million, all of which will be privately funded beyond the $1 million dollar grant, and was anticipated to create approximately 25 new full time positions in the Southern Tier region.

The project was originally approved for build at Upstate’s Corporate Drive location, but was then changed to 1000 State Route 434 in Owego, the former 3.5-acre site of 84 Lumber that owner Adam Weitsman purchased earlier this year.

But since that time, Weitsman announced on his Facebook page that he would not build at that location and would, instead, build in a more industrial area.

Even though the Town of Owego approved the build for the 84 Lumber site, concern by nearby businesses and residents prompted Weitsman to pursue a new location.

On Nov. 29, Weitsman posted the following on his Facebook page. “We had announced and received approval from the Owego Town Board a few weeks ago to build our new heavy media plant at the site of the former 84 Lumber. I was happy to receive approval even though many people spoke up against the project due to its location that could possibly affect neighboring residents’ quality of life. I was very excited that we won but could not get past in my mind the concerns people spoke up about.”

During a call to Weitsman’s spokesperson on Thursday, Stephen Donnelly, it was noted that there is no information available yet as to what will be done with the 84 Lumber location, and that the new site for the heavy media plant will be at Upstate Shredding.

Parkview Hotel and Restaurant

Also announced over the last week was the award of a New York State grant for the amount of $500,000 to Owego’s Parkview Hotel and Restaurant on Front Street in Owego. The grant will assist in the renovation of the building that will allow for commercial space, hotel rooms and apartments. 

The grant, according to Tinney, requires an upfront investment from its owners, Beth and Mark Johnson, with reimbursement offered upon completion of the project.

Right now, according to Beth Johnson, the Parkview has 23 rooms and a small apartment. When completed, the Parkview will boast 11 historic hotel rooms and four historic studio apartments. She noted that an elevator would also be installed.

“Turning this back into a hotel is huge,” said Johnson, adding, “This is something I have always wanted to do.”

Construction of the project is expected to begin some time in 2017. Beth Johnson noted that the construction would not impact the Bike Night event that takes place in downtown Owego during the summer months.