ITHACA, N.Y. — A longtime business owner on Ithaca’s West End is seeking to aid in the neighborhood’s revitalization with a bevy of real estate purchases and renovations in the works.
An Ithaca-based limited liability company (LLC) purchased nine contiguous land parcels on a block of Ithaca’s West End on March 29 for $2.54 million. Five buildings are included in that purchase, including the retail plaza at 605-615 West State Street that housed Finger Lakes Beverage Center, the former Sparrows/The Falls wine room building at 726 West Green Street, an adjacent building at 109 Fulton Street, the former Ace Security building at 716-720 West Green Street, and a commercially zoned house at 706-708 West Green Street.
The LLC filing shows that it is registered to the address of the Ithaca Agway on the next block, and Ithaca Agway President Andrew Boerman represented the purchasing group.
Over the years, Boerman and his wife Marna have steadily expanded his business and real estate portfolio, owning and operating the Agway True Value store on North Triphammer Road, and purchasing the Ithaca Stove Works in 2012, moving that business closer to the Agway.
Now, anyone familiar with those properties on this block knows that it’s struggled with high retail and office vacancy rates in recent months. For those worried about a new, grandiose building showing up in the neighborhood, Boerman says that’s not his goal.
“Our plans for this new acquisition include improving and preserving existing structures and promoting existing and new local business enterprises within the City of Ithaca,” Boerman said. “This plan benefits and supports the growth and change already occurring in the West End and will continue to provide opportunity, jobs, and services within the City limits.”
Boerman said they intend to “renovate and lease the existing structures, preserving the existing infrastructure, while improving and adding opportunities for commercial business interested in remaining within the City of Ithaca.”
The site’s parking, which Boerman said is already sufficient to support its current tenants, also offers the opportunity for growth at the site.
Boerman plans to spruce up the site as it exists currently, as opposed to building up apartments at the location — like others have opted to do recently along the State Street Corridor. With that, he hopes to attract businesses that cater to both those new residents and Ithacans who already live here, or those who own businesses locally to any currently vacant spaces.
As for existing tenants, Boerman stresses they’re not about to be pushed out.
“Current businesses like TG Miller and The Falls Wine Store will continue to operate business as usual,” Boerman said.
Boerman indicated there may be some announcements regarding new businesses coming to the properties in the coming months — but for now, those possibilities are left vague.
“I have already been working on some new tenant leases, discussing renovations, and have begun some improvements for tenants looking to move quickly,” Boerman said. “We are working on plans to address the vacancy in the former beverage center space and are willing to share those plans at a later time when details are less fluid. We look forward to giving this section of the block some much needed attention and repair.”
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