OSWEGO, NY – At its meeting Monday night, the Administrative Services Committee moved forward with plans to redevelop the former Flexo-Wire site.
Justin Rudgick, community development director, requested a discussion of the purchase agreement between the city of Oswego and Housing Visions regarding the sale of the Flexo-Wire site for the development of the Harbor View Square.
The purchase offer has been reviewed and edited by Kevin Caraccioli, city attorney, Rudgick noted.
Housing Visions is submitting its funding application to NYS Homes and Community Renewal on Dec. 7 for approximately $20 million development and is required to “exhibit effective site control of the proposed project” as part of its application submission, Caraccioli told the councilors.
The purpose of this agreement is to satisfy that requirement, the director explained.
The agreement outlines the sale of the respective parcels that comprise the Flexo Wire site for $150,000. This was the sum identified in the initial proposal by Housing Visions when it was selected by the city as the preferred developer through a resolution approved on July 11, 2016.
There are four parcels to the property as well as the closed portion of VanBuren Street, the city attorney pointed out.
The sale of the property will not happen until Housing Visions is able to show sufficient financing for the proposed development of which the funding award decision from NYS Homes and Community Renewal is anticipated by June 2017.
Housing Visions plans to redevelop the city-owned brownfield site at 68 W. First St.
It is a brownfield site, the city attorney cautioned, adding that the company will likely have to put about $2 million into remediation.
It will be a mixed used development with 75 rental units of modern, high-quality urban living space and about 10,000 square feet of retail, commercial space in the Harbor West neighborhood of Oswego.
The project includes amenities such as a rooftop terrace with a view of Lake Ontario, a resident lounge with full kitchen, a media center and conference room, washers and dryers in each unit and more.
City resident Miles Becker reminded the councilors that Housing Visions is the company that took over Hamilton Homes a few years back.
“This company did a great job over there,” he said.
Harbor View Square is located within walking distance not only of Lake Ontario, but also many venues such as the Veterans’ Stage, the Oswego Riverwalk West, and a diversity of dining and shopping options as well as a theater and several museums.
A resolution addressing Housing Visions’ site control was forwarded to the full council for consideration.