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Cascade Plaza

Ithaca, NY (2004)

Cascade Plaza is a newly developed 9-story, 175,000 sq. ft., mixed-use project in the heart of Ithaca’s Urban Renewal District. The development is the result of a partnership between the City of Ithaca and Cornell University aimed at encouraging redevelopment of the downtown area.

COMMUNITY IMPACT
FINANCING SOURCES
PROJECT LOCATION

Project Description

Cascade Plaza is a newly developed 9-story, 175,000 sq. ft., mixed-use project in the heart of Ithaca’s Urban Renewal District. The development is the result of a partnership between the City of Ithaca and Cornell University aimed at encouraging redevelopment of the downtown area. The project includes 102,000 sq. ft. of class A office and ground floor retail space, 77,000 sq. ft. of which will be occupied by Cornell and a 104 room Hilton Garden Inn. In addition, the development created the need for a municipal parking garage, which is being financed and developed by NDC’s HEDC. The project is expected to generate $4.6 million annually in new retail and food/beverage sales, increase the City’s annual sales tax revenue by $281,000 and provide $500,000 annually in property taxes.

Community

Historic Rehabilitation

Mixed-use

Mixed-use and Commercial