For decades, 121 Court Street was known to many as The Rug Shop, a familiar storefront in the heart of Downtown Binghamton. Today, this historic building is entering a new chapter — one that blends preservation, reinvestment, and modern living. Through support from The Agency’s Business Development Fund, this project is moving forward with a vision that strengthens both the streetscape and the economic vitality of our urban core.
A Mixed‑Use Transformation for Modern Downtown Living
The redevelopment of 121 Court Street will convert the long‑vacant upper floors into four high‑quality market‑rate apartments — two one‑bedroom units and two two‑bedroom units — helping meet the growing demand for downtown housing. On the ground floor, the project will deliver a white‑box commercial space, offering flexible opportunities for future retail or professional services that contribute to a more active, walkable corridor.
Comprehensive Building Improvements
To bring this historic structure back to life, the development team will undertake a full renovation that updates the building from top to bottom. This includes modernizing core systems, improving the building envelope, restoring the façade, and installing a new storefront — all while integrating energy‑efficient upgrades that support long‑term sustainability. The result will be a safer, more efficient, and more attractive property that honors the building’s history while preparing it for decades of new use.
Supporting Downtown Growth Through Strategic Investment
The Agency’s Business Development Fund played a key role in advancing this project by helping reduce development costs and accelerating the renovation timeline. This investment aligns with our mission to support small developers, strengthen downtown corridors, and create spaces where people want to live, work, and build their future.
As 121 Court Street transforms from a former retail staple into a vibrant mixed‑use property, it represents the kind of incremental, meaningful redevelopment that continues to shape Downtown Binghamton.