BINGHAMTON, N.Y. (WIVT/WBGH) – The City of Binghamton is supporting an affordable housing proposal for the First Ward that was inspired by a former Binghamton University student.

Mayor Jared Kraham announced today that Long Island-based The Metro Group is planning a multi-story complex at 187 Clinton Street.

The structure will have commercial space on the ground floor and 102 apartments on the upper floors. The nearly four-acre lot has been vacant since buildings that once housed the Broome County DMV and Vail Ballou printing company were demolished. The housing, which will come in one-, two-, and three-bedroom units, will be reserved for low- and moderate-income residents.

President of The Metro Group Rob Muchnick says he was encouraged to invest in Binghamton by his son David who went to school at BU. He says Binghamton has been much easier to work with than other municipalities.

“We get to make a nice earning and at the same time we create something very valuable for the community and get to help people who need the help. So, it’s a win-win all around,” said Muchnick.

Muchnick says the current owner of the property has had other offers to build a warehouse on the site.

Binghamton City Council will need to approve a $2.2 million grant from the city’s American Rescue Plan Act funds that Kraham has earmarked for the project. That money will support pre-development activities including environmental testing and remediation.

The project was also awarded nearly $3 million in Restore New York state funding. The Metro Group is also seeking brownfield cleanup and low-income housing tax credits as well as a PILOT agreement.

Arranging the financing and site preparation is expected to take all of next year with a groundbreaking planned for 2025.