$25 Million Redevelopment Project Planned in Binghamton
A Syracuse-based company is prepared to acquire a long-dormant Binghamton business park and a neighboring power generating facility.
Mayor Richard David announced the proposed $25 million project Monday.
The mayor said Bowers Development plans to acquire the 21-acre Charles Street Business Park and the adjacent cogeneration plant.
Speaking on WNBF Radio's Binghamton Now program, David said the project has the potential to "transform the First Ward and become a large-scale business anchor for the city."
The mayor said the proposal calls for the power generating facility to be put back into operation. He said the plant would produce low-cost power that could be used by businesses at the site.
David said Bowers plans to construct prefabricated steel buildings containing 150,000 to 200,000 square feet of space that could be used for various purposes.
The business park property, which is owned by the Binghamton Local Development Corporation, is to be sold for $621,342. The city-owned power plant structure is to be sold for $500,000.
The mayor said details of the project will be outlined at a city council work session Monday evening.
Contact WNBF News reporter Bob Joseph: firstname.lastname@example.org
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