Affordable Housing Project Planned Near Downtown

Project to Save Historic 1 North Depot Property, Create Modern Affordable Housing Headed to City's Planning Commission

$31M, 50-Unit Affordable Housing Project Planned Near Downtown

(BINGHAMTON, N.Y.)-Binghamton Mayor Jared M. Kraham on Thursday joined Broome County Executive Jason T. Garnar and Regan Development Corporation to announce plans for a $31 million project to preserve the historic building at 1 North Depot St. and create 50 units of affordable housing.

Mayor Jared M. Kraham said: "This investment at 1 North Depot represents two critical goals for Binghamton's future-preserving our City's historic character while building the housing our community needs. By bringing this long-vacant historic building back to life, we're strengthening affordable housing opportunities and reaffirming that Binghamton is a place to build."

Broome County Executive Jason T. Garnar said: "Restoring this landmark and turning it into affordable, energy-efficient housing is a big win for our community. We're preserving the past while meeting the needs of today. Thank you to Mayor Kraham, Regan Development, and our state partners for supporting this project forward."

Regan Development Corporation President Larry Regan said: "Regan Development looks forward to working with the City of Binghamton and Broome County in assisting to revitalize this historic asset and continuing the trend of revitalizing downtown Binghamton towards 24/7 live-work neighborhood district with new state of the art rental housing."