Newman Development Group Buys 50 Front Street

Published 05/13 2014 04:55PM

Updated 05/13 2014 05:20PM

A vacant former hotel and nursing home in Binghamton is expected to be transformed by one of our area's most prominent developers.

Newman Development Group is proposing to redevelop 50 Front St. as a mixed use residential and retail or office space building.

The one-time Sheraton Hotel has been empty since 2011 and was acquired by the Broome County Land Bank in March.

Newman was the only developer to respond to a request for proposals from the land bank.

The plan calls for up to 125 quality apartments targeting young professionals, empty nesters or others seeking an urban lifestyle.

The Land Bank board is scheduled to consider the proposal at a meeting on May 27th.

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