Land Bank Seeks Development Proposals

Published 04/09 2014 04:24PM

Updated 04/09 2014 05:24PM

The newly formed Broome County Land Bank is already seeking development proposals for its first property.

The Land Bank has issued a request for proposals for 50 Front St. in Binghamton.

The vacant six story structure was originally built as a Sheraton Hotel. It later became a senior center and in its last years of operation was a controversial assisted living facility importing mentally ill patients from New York City.

Citing its prime riverfront access and proximity to the Roberson Museum and Confluence Park, Land Bank officials are hopeful that the building can be returned to productive use.

The Land Bank was created as a means to take control of properties that are seized for back taxes and have greater control over their future development than simply putting them up for public auction.

Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.