“Somewhere, something incredible is waiting to be known.”
These words from Carl Sagan— the late astronomer and Ithacan—underscored the tone as the ribbon was cut in downtown Ithaca, NY for the development now known to all as Asteri Ithaca.
Federal, State, County and City of Ithaca representatives joined the Vecino Group and other development partners to celebrate the opening of the brand new, all electric, 12-story building. The development adds 181 affordable homes to the area’s housing options, as well as a conference center, retail space and structured parking, all to serve the downtown and surrounding area.
“I am proud to have been a partner on Asteri Ithaca and the downtown conference center, which expands safe and affordable housing and provides a means to promote and grow area small business,” shared New York Senator Chuck Schumer. “It does so in a groundbreaking manner, as the first full electric conference center in the United States.”
Ten years ago, the Ithaca Chamber of Commerce had an inspired idea to pursue center-city development that would address multiple needs of Tompkins County. This led to a request for proposals in 2018 for development focused on housing, homelessness, social services, the downtown economy, and climate-consciousness. After a nearly 11 month long competitive review, the Vecino Group was selected as a partner for the Asteri concept.
“To the Vecino Group, thank you for working with our community to create this really special project.” said Jennifer Tavares, Downtown Ithaca Local Development Corporation President. “We know we need as much additional housing at all price points as possible, and we are grateful to you for building 181 affordable housing units here. It’s inspiring to see what we’ve built together and know we’ll be partners for many years.”
All 181 affordable apartments and the 55,000-square-foot conference center are in the same 12-story building. The $62 million residential portion on the top nine floors includes 78 studio, 87 one-bedroom, eight two-bedroom, and eight three-bedroom apartments. Rents are structured to be affordable to households earning up to 80% or less of the Area Median Income.
Forty apartments are reserved for people in need of supportive services and benefit from an Empire State Supportive Housing Initiative (ESSHI) award to Tompkins Community Action, Inc., which will be administered by the Office of Temporary and Disability Assistance.
Amenities include a 12th-floor sky terrace, outdoor space, and a fourth-floor fitness center and community room. Residents also have access to a common laundry room on every other floor, and indoor bike storage on the ground floor. All residents have free internet service, with each unit hard-wired for 5G access, including routers for Wi-Fi.
Also included within the development: the eastern portion of the Green Street Parking Garage has been renovated and expanded to include 350 parking spaces, with spots available for building residents to lease.
Located at 118 East Green Street, Asteri Ithaca is within walking distance of the Ithaca Commons, City Hall, restaurants, shops, medical offices, and professional offices. The development is close to Six-Mile Creek Trail, DeWitt Park and Cascadilla Gorge Trail—plus is served by more than 10 bus routes.
The energy-efficient, all-electric building furthers the state’s goals of achieving 85 percent carbon neutrality by 2050. Apartments have low-flow plumbing fixtures, along with Energy Star rated windows and appliances. In addition, the building meets the standards of the EPA Energy Star Multi-Family High-Rise Programs, and the New York State Energy Research and Development Authority’s New Construction Housing Program. State funding for the $62 million residential portion of the Asteri Ithaca includes $11 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that will generate $26.3 million in equity and $19.8 million in subsidy from HCR. NYSERDA’s New Construction-Housing Program also provided more than $650,000 in additional funding. Empire State Development awarded a $5 million Regional Council Capital Grant to support the development of the Conference Center.
“New York is very special to us, and within it Ithaca is a special thing. I want to mention Tompkins County Action here who have helped us to deliver 80 units for homeless individuals here over the past few years.” said Vecino Chairman Rick Manzardo. “But the team—HCR, Commissoner Visnauskas, Lenny—you provide us the tools to be kind. To do good for each other. And Asteri Ithaca will be a positive fixture in Ithaca for decades to come.”
“The Vecino Group designed and developed this beautiful building we are all enjoying right now in the heart of our downtown, simultaneously serving two needs: affordable housing and economic vitality,” said City of Ithaca Mayor Robert Cantelmo. “To our sister communities around the State—and around the country—I hope this project provides a benchmark for you, for what we can achieve when we tackle the major challenges facing our communities creatively and cooperatively.”
