COR Development dropped Carthage apartment plan due to poor market study

April 17, 2013 By

General manager of COR Development Co., Steven F. Aiello, at the construction site for Beaver Meadows Apartments, Watertown. Photo by Norm Johnston/NNY Business.

Plans for a 364-unit apartment complex in West Carthage were scrapped in January because a market study commissioned by COR Development Co. created serious concerns for financiers, according to COR General Manager Steven F. Aiello.

“We would have been pleased to have done the project there, but the market study didn’t support it. There were financial challenges getting the project built there,” Mr. Aiello said. “We have an obligation to the state to make sure the project had the best opportunity to be successful.” [Read more...]

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Growing into a new century: Ambulance service’s new facility honors late owner Wright

April 5, 2013 By

Guilfoyle Ambulance General Manager David C. Sherman shows one of the large new conference rooms in their new headquarters. Photo by Norm Johnston/NNY Business.

The north country’s newest conference center has some empty space to thank for its existence — 13,000 square feet of it, to be exact.

In July 2012, Watertown’s Guilfoyle Ambulance Service decided to move operations from its Newell Street facility to the former Covidien building, 1291 Faichney Drive. While the new space was ideal in many ways, Guilfoyle quickly realized that there would be room to spare in the 77,000-square-foot manufacturing facility.

“We looked at several commercial locations throughout the city to try to relocate the Guilfoyle business, and this one had been on the market quite a long time,” said Jeffrey J. Call, director of operations for Guilfoyle. “When we looked at this one, it was the perfect setup for our administrative and business needs, but it had a lot of extra space.” [Read more...]

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Beaver Meadows Apartments to open at Towne Center Plaza on Memorial Day weekend

March 11, 2013 By

Construction workers wrap up for the day Friday at one of the Beaver Meadows apartment units behind Target. Photo by Justin Sorensen/Watertown Daily Times.

Memorial Day weekend will mark the grand opening of the first of seven four-story apartment buildings at Beaver Meadows Apartments behind the Target store off outer Arsenal Street in the Towne Center Plaza.

That 40-unit building — almost fully spoken for with tenants who already have signed leases — is part of the 296-unit project being completed by COR Development Co., Fayetteville. Three more apartment buildings will open in June, July and August, while the final three should be done by November. [Read more...]

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JCC feasibility study: multipurpose facility will add value to county

February 26, 2013 By

A proposed $44.5 million multipurpose facility may replace the county-owned Whispering Pines nursing home on Coffeen Street.

Jefferson Community College’s highly anticipated multipurpose facility feasibility study, outlining the potential project’s risks and rewards, has finally been unveiled.

According to the study, a new $44.5 million facility where the county-owned Whispering Pines nursing home stands on Coffeen Street would be financially feasible and add value to the area, good news to the county and the community college. [Read more...]

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California developer plans to submit townhouses proposal in LeRay

February 20, 2013 By

A development with 150-plus rental townhouses will be built off Route 11 outside Fort Drum if LeRay town officials approve a California developer’s plan.

The Common at Fleming’s Farm may be built on the parcel north of Eagle Ridge Village. Fidelity American Holdings Corp. bought 347 acres of property for development in 2005, but it now has the pieces in place to move forward with its project, said principal Linda W. Luther. [Read more...]

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New firm proceeding with plans for Maple Courts Apartments improvements

February 13, 2013 By

The Massachusetts investment company interested in purchasing Maple Courts Apartments will not request a tax-abatement package.

Charles E. Allen, a principal for Evergreen Partners LLC, Ipswich, Mass., said Monday his firm will rely instead on state housing tax credits to purchase the 92-unit, affordable-housing apartment complex off Weldon Avenue for $3.7 million and then spend $7 million to renovate it. [Read more...]

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Townhouse apartments on County Route 202 to be ready for families in May

January 28, 2013 By

A worker attaches vinyl siding to the upper level of a building at the Morgan Management construction site, the Preserve at Autumn Ridge, off County Route 202 in the town of Watertown. Photo by Amanda Morrison/Watertown Daily Times.

Workers are busy finishing a clubhouse and four townhouse apartment buildings off County Route 202 in the town of Watertown, which should be ready in May and June for families to move in.

On Thursday, construction workers from General Interiors of Liverpool were busy finishing framework on three buildings and starting work on the fourth at the subdivision, being developed by Morgan Management of Pittsford. They have worked throughout the winter to make progress at the 68.8-acre site, where 60 buildings with a total of 394 two- and three-bedroom apartments will be built over the next four years. [Read more...]

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Experts say entrepreneurs need standout business plans to succeed in commercial real estate market

January 19, 2013 By

Compared to a decade ago, experts say, today’s entrepreneurs seeking to scoop up commercial real estate in the greater Watertown area need to jump through many more hoops to be successful. [Read more...]

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Military helps home sales continue rise in Jefferson, Lewis counties

January 14, 2013 By

Buoyed by military families at Fort Drum, 2012 residential home sales in Jefferson and Lewis counties continued a strong climb since 2008.

As the number of homes sold went up, so did the prices, especially in Lewis County, where the median price last year was 37 percent higher than five years ago. [Read more...]

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Clayton group shares its vision for a $15 million hotel on Frink

November 16, 2012 By

Architect's rendering of a proposed hotel/condominium on the Frink site in Clayton.

CLAYTON — It’s a hard deal to pass up. Clayton Associates LP members reiterated Wednesday that they do not require grant money or a payment-in-lieu-of-taxes agreement to build a high-end, $15 million hotel/condominium at the edge of the picturesque St. Lawrence River.

They met with local officials — who will on Nov. 30 pick a developer for the Frink site, a former brownfield property — earlier that day and presented detailed designs and renderings of a proposed four-story facility facing the water.

The group’s members, all of whom are local residents, said they have not only the talent, resources and enthusiasm but also a deep love for Clayton and a vested interest in the community to make sure their business model is a sustainable one.

[Read more...]

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