Financial Institution May Anchor New Downtown Building

A Binghamton developer says a commercial tenant is committed to occupying a portion of a five-story building that is to be constructed at a key downtown intersection.

Mark Yonaty says a few design changes have been made to the original plans for the structure that would be built on the southeast corner of Court and State streets.

The site has been empty for several years since the vacant Ross and O'Neil buildings were torn down.

Speaking on WNBF Radio's Binghamton Now program, Yonaty said the basic concept of the new building hasn't changed. He expects the structure will include about 4,000 square feet of commercial space on the street level and 16 apartments on the upper floors.

Yonaty said a financial institution, which he declined to identify, is interested in serving as the "anchor tenant" at the site. Although no contract has been signed, plans for the project are being geared to incorporate the needs of the business.

The proposed first floor ceiling height has increased and a community room is planned for the rooftop level. Those changes mean the building will be slightly taller than initially expected.

The developer now expects the total cost of the project will be about $4.5 million.

Various issues have delayed the start of construction on the long-anticipated project. Yonaty on Wednesday said he now hopes groundbreaking could occur by late summer.

Contact WNBF News reporter Bob Joseph: bob@wnbf.com

For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.