Land sale along Ithaca’s waterfront makes big splash

By Brian Crandall
The Ithaca Voice

 

Photo from the Ithaca Voice
The former Johnson’s Boatyard property was recently acquired by an Elmira-based firm.

In a filing recorded with the Tompkins County Clerk’s Office, an Elmira-based construction company has made a multi-million purchase of land along Ithaca’s waterfront.

“City Harbor LLC” purchased 101 Pier Road for $4.2 million, according to the deed. Readers may be more familiar with the property as the former Johnson’s Boatyard next door to The Haunt. The LLC’s business address is the same as Edger Enterprises of Elmira Heights, a construction firm that has been involved with several local projects in the past few years, including the Elmira Savings Bank at 602 W. MLK Jr./State St., and the Texas Roadhouse restaurant at 719-725 S. Meadow St.

In those projects, however, its involvement was as the general contractor responsible for the build-out of a project, not as a developer. The purchase does not give any explicit information detailing Edger’s future plans for the Pier Road property. It should be noted, though, that the $4.2 million sale price is well above the 7.64-acre property’s assessed value of $2.378 million. Anecdotally, sale prices for properties tend to be well above assessment when development plans are being prepared.

It would not be the first time that someone has proposed a redevelopment of the Johnson Boatyard. The previous owners, the Cleveland’s, proposed Cascadilla Landing, a 183-unit development consisting mostly of two-family homes, townhouses and five-story apartment buildings. Plans by local architect John Snyder included a small amount of neighborhood retail space, and covered ground-floor and outdoor surface parking.

 

You can find more on this story at the Ithaca Voice website at ithacavoice.com/2017/11/waterfront-land-sale-makes-big-splash/.