Visions Credit Union May Anchor New Binghamton Town Center Building

The Binghamton Planning Commission has approved a scaled-down mixed-use structure that a developer wants to build at a key downtown intersection.

The panel gave the green light for the construction of a two-story building on the southeast corner of Court and State streets.

For several years, Mark Yonaty has been planning to build a five-story structure on the city-owned site where the O’Neil and Ross buildings once stood.

Yonaty’s most recent proposal called for street-level retail space and 20 apartments on the top four floors.

A smaller building is now planned at 72 Court Street in Binghamton. (Rendering provided by Mark Yonaty)

The developer said their update plans called for five residential units on the second floor with space for two commercial tenants on the first floor.

Yonaty told the planning committee that Visions Federal Credit Union is expected to be one of the tenants. He said Visions could eventually use all of the commercial space.

The cost of the project is now estimated at between 3 and 3.2 million dollars. The price tag for the larger project was to be around $ 5 million.

Mark Yonaty and Mayor Richard David at the proposed project site on June 27, 2017 (Photo: Bob Joseph / WNBF News)

Yonaty said he had downsized the project due to changes in recent years, including the planned development of an apartment complex above the proposed new parking garage on Water Street.

Now that the planning commission has approved his revised plans, Yonaty has said he will recruit a general contractor for the project.

Soil samples were taken from a site on Court and State Streets on April 20, 2021. (Photo: Bob Joseph / WNBF News)

Contact WNBF News reporter Bob Joseph: [email protected].

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