Development plans for Canton's Midtown Plaza include 55 apartments, retail space
Rob Holzman, vice president of planning and acquisitions with the Vecino Group, presented an update on the project at a joint meeting of the town and village boards Tuesday.
The project will feature 55 one and two-bedroom residential units, a 10,000-square-foot SUNY Canton Entrepreneurial Center, and approximately 2,500 square feet of retail space.
The project will feature affordable housing units targeting residents at 30 to 80% of the area median income.
Holzman noted that a significant step in the process was the recent hiring of LaBella Associates, a civil engineering firm, to lead the site plan development. LaBella Associates' Regional Business Development Manager Anastasia Thomas will be a key partner in navigating the site plan review and approval process. The development team aims to secure site plan approval from the Village Planning Board by July or August.
First up for LaBella is a site survey to identify any potential issues, such as hidden infrastructure.
Geotechnical work will follow to determine the type of material beneath the paved area that extends from Miner Street to the old Jubilee Supermarket.
Holzman said they are seeking 9% Low-Income Housing Tax Credits from New York State Homes and Community Renewal.
Vecino will submit the tax credit application in September or October. It is foundational to making the project financially feasible, Holzman said.
Factors working for a successful application are that the project is for mixed-income housing including market rate and affordable units, it is located in the downtown core, the partnership with SUNY Canton, the village's prior work preparing the site, and it being named a priority project in New York Forward Strategic Investment Plan and Restore New York funding for demolition of the existing structures.
Construction timelines will depend on securing the state tax credits, Holzman said.
The Midtown Plaza, anchored by the Jubilee supermarket, has been vacant for 20 years. Since 2019, it has been the center of a plan to build housing, retail spaces, and an entrepreneurial center and incubator hosted by SUNY Canton.
In 2023, the village paid $1.28 million for the properties owned by Gary M. Cohen and Vernon L. Green.
Cohen, a New York City businessman, had owned the plaza and its parking lot since 1980.
Green owned a separate property adjacent to Cohen's five parcels.
Once completed, the Vecino Group will be the owner and property manager.
Holzman said Vecino has created an in-house property management company in New York.
This approach, he said, allows for more direct control over property management staff and avoids challenges associated with third-party management.
Holzman said that finding good property managers can be difficult when outsourcing, so their internal management company provides better oversight and quality control.
This approach allows the Vecino Group to maintain consistent standards across its affordable housing developments and ensure proper maintenance and tenant services, he said.
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