A Syracuse developer is planning to convert a large former camera and film factory in Binghamton into high-end market-rate housing.
Paulus Development President Matt Paulus was joined by Mayor Rich David and Broome County Executive Jason Garnar to announce plans for a $20 million historic rehabilitation of 6 Emma Street.
The project, which will be called The Ansco Camera Factory, will convert the 4-story industrial complex into a mixed-use structure, with 2 floors of commercial space on the bottom and 97 loft-style apartments on top.
The building was originally built in 1927 by the General Cigar Company but later housed Ansco’s camera manufacturing business for decades.
Paulus says he expects the building, which is near the Johnson City line, will appeal to young professionals who will be working and studying at B-U’s new Pharmacy School and Health Sciences Park in J-C.
“This town has great assets. A lot of these old industrial buildings that have great character and heritage to them. I feel it is the right time with all of the investment that is underway in Binghamton in the Southern Tier region, I feel it’s really a great time to be ahead of the curve and start investing now,” said Paulus.
Paulus plans to purchase the building for $350,000 from Broome County, which foreclosed on it in 2015.
It also is asking the state for a $4 million economic development grant.
Paulus says once the funding and design work is in place, he hopes to start construction early next summer with a projected completion in the late spring of 2019.
And he says he plans to try to preserve as many historical details as possible including the water tower on top of the building.