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PEDC lukewarm on Inlet Island development proposal

ITHACA, NY Ithaca’s Planning and Economic Development Committee got its first chance to discuss the proposal for Inlet Island after the Ithaca Urban Renewal Agency chose Finger Lakes Development as the preferred proposal. Finger Lakes Development, led by developer Steve Flash, proposed two separate buildings, one with 50-56 affordable housing units serving a range of 30-120% of area median income ($18,000-$72,000), and one with 78-90 units for extended stays, called a “hometel.”  Reviews were generally mixed from committee members, with most liking some aspects while not liking others. Committee Chair Seph Murtagh said he likes that Ithaca Neighborhood Housing Services (INHS) is involved, and he likes that the affordable housing ensures equitable waterfront development. However, in addition to the evergreen concerns of parking, he said he was also concerned with the lack of active ground floor uses in the proposal.

IURA approves Inlet Island development of affordable housing, 'hometel' | Ithaca

ITHACA, NY The full Ithaca Urban Renewal Agency (IURA) agreed with the Economic Development Committee and decided to move forward with the Finger Lakes Development proposal for Inlet Island at the June 24 meeting. The Finger Lakes Development proposal includes two separate buildings, one with 50-56 affordable housing units serving a range of 30-120% of area median income, and one with 78-90 units for extended stays, called a “hometel.” There were some concerns about density from IURA board member Tracy Farrell, a point that has been brought up by different people at each stage of the process so far. “There have been several comments that this seems too crammed,” Farrell said. “It’s just so much in not really that large of a space.”

IURA committee recommends affordable housing, 'hometel' proposal for Inlet Island | Ithaca

Three developers vie for the opportunity to develop Inlet Island