Housing Grant Could Follow COR To Mercy Project
It looks as if $2 million in state money will follow COR development from West Carthage to downtown Watertown.
COR Development dropped its plans to build up to 500 town houses and apartments on vacant land on North Broad Street in West Carthage, saying the market conditions weren't favorable.
It was announced last week that COR has plans develop the Mercy Care Complex into retail and housing space.
The $2 million came from the North Country Regional Economic Development Council. It was unclear at first if the money would follow COR from West Carthage to Watertown.
A statement from the NCREDC says the group is "excited" to learn more about COR's plans, but hasn't committed officially to granting the money to the new project.
The statement says the Mercy project "will present a great opportunity to not only revitalize the city of Watertown, but also meet the Council's goal of continuing to develop affordable housing options for Fort Drum and local residents."
NCREDC officials say it's "unfortunate" the West Carthage project is no longer moving forward and that it was one of several projects it recommend for funding "to address the shortage of rental housing available for soldiers and their families in the Fort Drum community."
Tuesday, September 2, 2014, Watertown, NY
On Wall Street