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$25 million redevelopment project announced for Charles Street Business Park and Cogeneration Power Plant

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Charles Street

BINGHAMTON (WBNG) -- On Monday, Binghamton Mayor Rich David announced a deal to sell the Charles Street Business Park and co-generation power plant in Binghamton's First Ward to a Syracuse-based development company to advance a $25 million redevelopment project.

Mayor David says the company, Bowers Development, plans to invest the money to upstart a co-generation power plant and a build prefabricated- steel buildings for "future commercial use."

The buildings are estimated to be between 150,00 and 200,000 square feet in size and may be used for office space, warehousing, distribution and "light" manufacturing.

Mayor David says the development could become a business anchor that employs hundreds of people.

The Charles Street power plant is being sold for $500,00 and the business park is being sold for $621,000.

The sales are waiting to be approved by Binghamton City Council vote.

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