Former Corning Hospital RedevelopmentProject name:Former Corning Hospital Redevelopment
Project Cost:$50 million
Jobs Created/Jobs retained:Due to the types of redevelopment, a complete job count is not available.
Economic Impact:After closure of its existing building in downtown Corning to move into a newly constructed hospital, Guthrie Corning Hospital committed to demolish the 100-year-old building at its own expense. The demolition of this state-designated brownfield site paved the way for three entities to invest $42 million to redevelop an entire block on a heavily-traveled thoroughfare in Corning. The project included a state-of-the-art training facility for SUNY Corning Community College’s health care programs, a corporate headquarters for a regional financial institution, and a 130-unit residential building within walking distance of downtown Corning that will inject thousands of dollars into the local economy.
Organizations involved in project:
City of Corning
Empire State Development
First Heritage Federal Credit Union
Guthrie Corning Hospital
Steuben County IDA
SUNY Corning Community College
Summary of project:
When Guthrie Corning Hospital decided to build a new facility in the Town of Corning, community leaders worked together to put a plan in place for redevelopment of the existing hospital site located on a main thoroughfare in the City of Corning. Guthrie was a key player in the redevelopment, making an early commitment to demolish the 100-year-old hospital and make the site shovel-ready for future development.
SUNY Corning Community College jumped at the opportunity to use a portion of the site for a state-of-the-art Health Education Center (HEC) to house its expanding nursing and community health programs. With the college in need of funding to build the new facility, Steuben County IDA stepped in to combine both the HEC project and hospital demolition to leverage grant funding through Empire State Development.
Once the HEC was built and a shovel-ready site was available, Riedman Companies started construction on a 96-unit, market-rate apartment building to support the city’s need for rental housing and bring more people into the downtown market district. The second phase of this project calls for an additional 35 apartments behind the larger building. Riedman worked closely with the HEC’s general contractor to create similar structures, so passersby will notice that the residential and HEC façades share similar architecture and coloring.
The final piece of redevelopment is the construction of a new headquarters building for First Heritage Federal Credit Union.
Upon completion, the project owners will have invested over $50 million into the site in about five years. This redevelopment has spurred other investment along the same street and will bring additional retail options to the residents and visitors in Corning.