BINGHAMTON, N.Y. (WIVT/WBGH) – Boscov’s shoppers received some good news today as the downtown Binghamton department store announced it will be staying put for the next decade.

Mayor Jared Kraham, along with New York State Assemblywoman Donna Lupardo, Broome County Executive Jason Garnar and Boscov’s Chairman and CEO Jim Boscov, came together on Monday to announce Boscov’s’ 10-year lease extension as well as $10 million in upgrades for the historic Court Street building.

The 11 Court Street building will undergo $8.5 million in critical building systems upgrades which includes electrical, plumbing, HVAC, elevator repairs, structural repairs and clean energy investments. The work is made possible by a $5 million New York State Assembly grant secured by Lupardo, $2.5 million from the City of Binghamton, and $1 million from Broome County. Funding from the City and the County comes from local American Rescue Plan Act allocations. 

Boscov’s will spend an additional $1.5 million on other in-store upgrades such as equipment and fixtures.

Jim Boscov says that one of the biggest changes that customers can expect is re-purposing the 4th floor of the store.

“We’re going to be consolidating all of the sales space without losing a single square footage of selling space, onto the lower three floors. Moving stock room space and offices to this level. I think that customers are going to find that much more convenient, and it will be a much more efficient operation for us,” said Boscov.

He says that the escalators will be replaced with three new, high-speed elevators.

The Binghamton Boscov’s has been in the city since 1984, but the building was built in the late 18 hundreds.

The downtown Binghamton Boscov’s has been in operation since 1984 and is one of America’s few remaining downtown department stores, according to Kraham. The historic five story, 240,00 square foot building was built in the late 1800s.

The building is owned by the Binghamton Local Development Corporation.