MEMPHIS, Tenn. — Big development projects are coming to Binghampton.
The EDGE board this week approved a payment in lieu of taxes incentive for multi-use housing to come to Broad Avenue.
“We continue to be amazed at how many people come in and just are not aware, they’ve never been to Broad Avenue, it’s their first time at Broad Avenue,” said Pat Brown, co-owner of the T Clifton Art Gallery.
Brown has witnessed Broad Avenue’s growth in the near-decade she’s worked there, but she says there’s still room for more.
If you haven’t been, it’s a colorful strip of locally owned businesses, from clothing stores to a brewery.
“We offer what tourists are looking for, unique, boutique-type shops with things that you can’t go buy anywhere else,” said Brown.
The area will soon have even more to offer with plans for a mixed-use housing complex.
It’ll be four-story buildings with businesses on the bottom and more than 400 apartments on the upper levels.
Rents will range from $840 for a studio to $1,400 for a two bedroom/two bath.
“The good will be, we’ll get to see more people and that space put to better use,” said Grace Byeitima, owner of MBABAZI House of Style.
The current space, which is an old Sears warehouse, is 75 percent empty.
Along with the housing, there will be a swimming pool, fitness center and outdoor lounge.
“We need to plan now on how do we handle fun things like parking and traffic congestion, which are wonderful problems to have because that means you’ve got people coming to your area,” said Brown.
About 400 off-street parking spaces are expected to be added.
Businesses say they’ve been working closely with the developers and expressed the desire to keep the shops on the street local, since 100 percent are right now and continue to grow.
“It’s truly a testament to the power of grassroots revitalization,” said Brown.
After the EDGE board approved the PILOT for the project, Senator Brian Kelsey released the following statement: “I commend the board for their support. These projects will clear the way for future development, improve the health and welfare of the neighborhood, and lead to new job opportunities for the residents of Binghampton.”
