Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Development topic
No spam. Unsubscribe anytime.
Developers report progress, floodplain redesign for planned hotel; INHS timeline may push affordable component to 2026–27
Summary
Developers reported to the Ithaca Redevelopment Agency that the proposed Academy Hotel project has advanced design work after a new floodplain map required a re‑design from five stories to four, while partner Ithaca Neighborhood Housing Services (INHS) said it cannot apply for funding until 2026 with possible approvals in 2027.
Developer representatives updated the Ithaca Redevelopment Agency on Jan. 14 about the status of a proposed hotel project and a possible joint venture with Baywood Hotels, saying engineering and a redesign prompted by a new floodplain map remain the main near‑term tasks.
Why it matters: The project involves private developers, a hotel operator (Baywood Hotels) and a planned affordable housing partner, Ithaca Neighborhood Housing Services (INHS). The timing of INHS’s ability to apply for affordable‑housing funding affects whether the project moves forward as a joint venture or whether developers proceed with a different structure.
Steve Flatch, representing the developers, told the agency the team has been working with Neil Patel and Baywood Hotels and has reached a degree of confidence on a hotel flag and engineering approach after redesigning the building from five stories to four to meet new floodplain requirements. Flatch said the redesign produces cost savings and reduces the height so the project would avoid seeking a variance tied to the higher elevation standard.
Jeff (developer partner) said the team did not initially expect a four‑story solution but that Patel’s redesign fit the program within the existing footprint; the outstanding technical tasks are geotechnical studies and foundation engineering. Flatch and Jeff said they are negotiating a joint‑venture agreement with Baywood and that, if the project is feasible, they expect to move to site‑plan work.
INHS representatives told the agency they will not be able to apply for the applicable funding round before 2026 and, even if they apply in 2026, approval likely would not arrive until 2027. Agency staff and developers discussed contingency options: the city could defer transfer of the parcel until feasibility and funding are confirmed, or hold the parcel in public ownership to preserve the affordable‑housing option if INHS cannot meet the funding timeline.
Developers estimated 6–9 months to prepare a site‑plan application if feasibility is confirmed; agency staff said the IRA will revisit the exclusive developer agreement at its upcoming meeting and may either table it, set conditions or act on a resolution. No formal approvals occurred at this meeting; this session was a status update.
