A major boost is moving Ithaca’s long-stalled SouthWorks redevelopment forward after LISC NY closed a $5 million loan for the project, according to the newsroom announcement. The funding supports early construction and site work at the former Emerson factory site.
Developer SHIFT Capital plans to transform the 95-acre property into a mixed-income neighborhood with 915 homes, 800,000 square feet of commercial space, and public green areas just south of downtown.
The $600 million project is expected to generate more than 3,000 construction jobs and 2,300 permanent positions, setting the stage for one of Ithaca’s largest redevelopment efforts in decades.
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