City of Binghamton Mayor Richard David has announced a deal to sell the 21-acre Charles St. Business Park and adjacent cogeneration power plant in the City of Binghamton’s First Ward to Syracuse-based Bowers Development for a $25 million redevelopment project.
Bowers plans to invest approximately $25 million to upstart the cogeneration power plant and build approximately 150,000 to 200,000 sq.-ft in prefabricated steel buildings for future commercial use, which may include office flex space, warehousing, distribution and light manufacturing. Future development is expected to support 150 to 250 new jobs.
The city-owned plant at 22 Charles St. is being sold for $500,000. The Charles St. park at 30 Charles St., which is owned by the Binghamton Local Development Corporation, is being sold for $621,342.
The site would be attractive to companies specializing in food production, food storage, distribution, logistics, data centers, cold storage and others with high energy needs, according to Licata.