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Tuesday, November 29, 2022

Binghamton Developer Acquires Downtown Parcel For Building

A city-owned site in the heart of the Downtown Binghamton Business District has been sold for a proposed mixed-use building project.

Developer Mark Yonati has been working for several years to acquire parcels for the construction of a commercial and residential building on court and state roads.

Speaking on WNBF Radio Binghamton Now program, Yonati said that sales of the site have officially closed with a purchase price of $75,000. He said the lot has been secured with some temporary construction fencing.

On January 24, 2022, construction fences surrounded the empty space on the court and state roads. (Photo: Bob Joseph/WNBF News)

On January 24, 2022, construction fences surrounded the empty space on the court and state roads. (Photo: Bob Joseph/WNBF News)

Yonati said final design work for the proposed building is underway, along with the selection of a contractor for the project, with a focus on construction in late winter or early spring.

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The revised project plan calls for two commercial tenants on the ground floor and five luxury apartments on the second floor. Yonati said Vision hopes to be one of Federal Credit Union’s tenants.

The site has been vacant for several years since Ross and O’Neill’s buildings were torn down because they posed a security threat.

Vision Federal Credit Union could be an anchor tenant of a new building in downtown Binghamton. (Rendering provided by Mark Yonati)

Vision Federal Credit Union could be an anchor tenant of a new building in downtown Binghamton. (Rendering provided by Mark Yonati)
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Contact WNBF News Reporter Bob Joseph: [email protected], For updates on breaking news and developing stories, follow @BinghamtonNow on Twitter.

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