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Posted on Sep 06th, 2023

The Agency Board Approves Crowley Factory Lofts PILOT

The Agency, as a lead partner in the Leadership Alliance, is proud to continually support the development of our region to usher in new economic activity to Greater Binghamton's downtowns. This August, The Agency Board voted to approve an application for benefits for the Crowley Factory Lofts Project, an $11 million investment which is sure to bring more foot traffic to Binghamton's Southside and Downtown neighborhoods. Nestled along the Susquehanna River at 135 Conklin Avenue, the retired Crowley Factory smoke stack currently looms over the City of Binghamton. Built in the early 1900s, the factory has seen many owners who have tried their hand at the dairy business, before ultimately the building was left vacant over five years ago. 

The rehabilitation of this historic property will be led by Crowley Factory Lofts, LLC, owned by two local developers, Patrick VanPutte and Jon Korchynsky. The project will transform the 73,000 square foot former Crowley Dairy Company building by restoring the second and third floors with one- and two-bedroom market-rate housing units. The ground floor of the project will feature 14,000 square feet for parking & storage and another 10,000 square feet of flexible commercial space to contribute to the Binghamton South Side's ongoing revitalization efforts. In total, the mixed use project will be home to 48 housing units, providing much needed housing for young professionals and families alike. 

The project will also eliminate a key source of blight on a very scenic property. Future residents and retail customers will be able to enjoy the waterfront view and take in the Binghamton City skyline from across the Susquehanna River. Situated between the Exchange Street and Tompkins Street Bridges, as well as nearby the Washington Street Pedestrian Bridge, the Crowley Factory Lofts will provide ease of access to the arts, cultural, shopping, and restaurant features of the Binghamton Downtown. 

“As Greater Binghamton continues to experience an incredible economic resurgence, we need a diverse and quality housing stock in order to sustain this growth,” said Stacey Duncan, CEO of the Leadership Alliance. “The Crowley Lofts project will simultaneously combat blight on the Southside of Binghamton while providing much needed housing for our young professionals.”

The Crowley Factory Lofts will directly create eighty construction jobs with a $3.8 million payroll and five full time positions for the community.