The Role of Tax Credits and Subsidies in Downtown Revitalization: Case Study Binghamton, New York
Abrams, Joshua; Alvarado, Oscar; Barton, Carolyn; Bosshart, Samantha; Johnson, Elizabeth; Matteson, Matt; Sargent, Elizabeth
[Excerpt] Introduction The O'Neil-Ross Building, located in the central business district of Binghamton, New York is looking at another lease on life. Known simply as the O'Neil Building, it was built in 1889-1890 for mixed-use office and retail purposes and has been a landmark since it opened. In recent times the O'Neil Building sat vacant for nearly ten years, suffering extensive roof and water damage from neglect. It was sold at auction in 2004. The O'Neil's current owner is now deciding on an appropriate use for the building. Of the possible redevelopment scenarios, a mix of off-campus market rate student housing for the State University of New York at Binghamton (SUNY Binghamton) and ground floor retail appears to be the most feasible option.
Cornell Real Estate Review
Volume & Issue:
Binghamton; property tax rate; decentralization; historic tax credits; student housing; Historic Rehabilitation Tax Credit; HTRC; Ithaca; Empire Zone; National Trust for Historic Preservation; New York State Rehabilitation Tax Credit Program; Federal Rehabilitation Tax Credit Program; Less Extensive Rehabilitation Rule; Historic Preservation Easement Program
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