New York State just put $38 million behind one of Ithaca’s biggest redevelopment bets, according to The Ithaca Voice. The funding backs SouthWorks, a sweeping plan to remake the former Morse Chain Factory site.
The money comes from the state’s ACHIEVE program and targets housing and economic growth. City officials say the investment could turn a long-blighted industrial property into a model neighborhood.
SouthWorks would redevelop 95 acres with about 915 housing units, an innovation hub, and new commercial and industrial space. The project, led by developer David Lubin and partners, carries an estimated $588 million price tag and a 15-year buildout.
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