City Centre, located across from the Marriott Hotel on the east end of The Commons, celebrated its grand opening on September 12th with a ribbon cutting ceremony.
“In so many ways, City Centre is setting a high standard for downtown. It is something we can all be very proud of,” said Heather McDaniel during her remarks. City Centre is not only a beautiful place to live, but after receiving one of the first enhanced energy incentives from the Tompkins County Industrial Development Agency, is also “40% more energy efficient than current building code requires,” significantly reducing its carbon emissions. The building is a 218,211 square foot, 8-story mixed-use project redeveloped on an underutilized property in the heart of Downtown Ithaca. The building has 192 apartments and a mix of commercial and retail uses on the ground floor including future tenants Ithaca Ale House, a Chase Café, and Collegetown Bagels.
The TCIDA approved an enhanced energy incentive package as a result of the project using renewable energy and energy efficiency measures that include air source heat pumps to replace natural gas heating. This $52 million project will contribute an estimated $3.1 million in new property taxes over 10 years. Heather McDaniel asked during her remarks, “has anyone noticed the property tax rate in the City of Ithaca is the lowest it has been in over 10 years? This is due in large part to projects like this one that would not have been possible without some assistance from the TCIDA. Thank you to Marc Newman and his team for investing in our shared success here in Ithaca!”
