Organization Name: CPC and Nelson Development Group
Project Title: Gateway Owego
Project Location: Owego, NY
Gateway Owego is located in Owego’s historic downtown. This three-story mixed-use building is faced with brick, completing the historic look of Front Street, Owego. It is sustainable (LEED Gold certified) with eight contemporary housing units affordable to low-income households, four storefront incubator spaces and two additional office spaces. Currently Tioga County Tourism Office is leasing space with access to the viewing deck. This was Nelson Development Group’s first ground-up project and a joint effort with Village of Owego to fill a lot along the Owego Riverwalk and the Susquehanna River that had been vacant since a devastating fire in 2000. The building features river access for kayaking/canoeing, boat storage, an elevator with secure access, individual decks, rooftop terrace, wine cellar and in-unit laundry. This project was financed under Governor Cuomo’s Small Project Affordable Rental Construction (SPARC) program, which restores housing and economic opportunities for low-to-moderate income New Yorkers impacted by severe weather. New York State Homes and Community Renewal chose CPC to administer SPARC. For this project, CPC provided a $2.5 million construction loan and $524,000 permanent loan.
Overwhelming community support from the onset was instrumental in bringing the Gateway project to life. Impact on the Owego and Tioga County communities can be measured tangibly by the transformation of a blighted lot, stabilization of adjacent historic row buildings, the leveraging of $2.9 million in public and private investment, the addition of the Tioga County Tourism office as a tenant, and public restrooms to support shopping, local events and River Walk patrons in Owego’s historic downtown.
Intangibly, the project’s impact has resonated even more deeply. Following Hurricane Irene’s devastation in 2011, the project has been instrumental in launching a revitalization movement in the Village, and is a key reason why Owego was awarded $10 million in 2018 through the NYS Downtown Revitalization Initiative. The new affordable apartments and retail incubator spaces allow community members at a variety of income levels to access these new economic opportunities. Residents, local business owners, and developers are excited and committed to re-investing in this incredible community, and this resurgence of pride can be directly attributed to the success of the Gateway project.
Nelson Development Group was established in 2008 in Vestal NY, to restore historic buildings and sites for adaptive reuse. Owner Bruce Nelson has 40 years of experience in construction and wide knowledge in building trades, planning and cost analysis and construction methods. We strive to produce mixed-use buildings with affordable contemporary design for intergenerational housing. CPC is a nonprofit multifamily housing finance company that believes housing is central to transforming underserved neighborhoods into thriving and vibrant communities.
Eugene Beautz, Project Architect; Governor's Office of Storm Recovery, The Community Preservation Corporation, NYS Common Retirement Fund, NYS Homes & Community Renewal, Village of Owego, Restore NY