Cayuga Green, a Mixed Use Development (Ithaca, New York)

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Cayuga Green is an urban mixed use project in the heart of downtown Ithaca, New York. Cayuga Green consists of rental residential units, condominiums, retail space and a small multi-screen cinema. Within the boundaries of Cayuga Green are two public parking garages providing 1,200 parking spaces. Parking is free evenings and on weekends. The development is situated near major traffic generators such as the main county library and city hall and the Ithaca Commons home to numerous retail shops and restaurants. Cayuga Green is a short bus ride from Cornell University and Ithaca College.

Specifically, Cayuga Green includes:
• 34,000 square feet of new retail space
• A five-screen art cinema (+/- 12,000 s.f.)
• 68 apartment units
• 30 to 35 condominium units
• A new public walkway along Six Mile Creek

More than 200,000 people live within the 25 mile market area. Nearly 30,000 students reside within one mile of this development. Market reports indicate that many of these customers are bypassing Ithaca retailers and entertainment venues for locations such as Syracuse and Binghamton (both about one hour away). The sub-regional mall, located on the fringe of Ithaca is dated and offers little in the way of exciting “lifestyle” retail opportunities.

Recently, downtown Ithaca has benefited from substantial private investment. The Commons enjoys over a 92% occupancy rate. Seneca Place, two blocks from Cayuga Green and consisting of 100,000 square feet of office space and a 110 room hotel, opened with 100% occupancy this past summer. Gateway Plaza, also about two blocks away, began construction of 10,000 square feet of retail space and 36 luxury apartments to complement its existing 50,000 square feet of office space.

Cayuga Green is well located to attract day time customers walking from the parking garages to surrounding office and retail locations. In the evening new residents and patrons of the 7th Art cinema will generate additional traffic . Downtown Ithaca is rapidly being regenerated as the place in the region to work, shop and live.