Lincoln Building Rehab Won't Happen All At Once

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In last month's state grant awards, the Lincoln Building developers were hoping for $3 million.

They got $400,000. 

"At this point we are still seeking additional funding and financing," said Allison Carlos, leasing manager for Washington Street Properties.

The price tag is set at about $13 million for converting the building into new apartments and retail and commercial space.

With that that kind of money hard to come by, it looks like the makeover won't be happening all at once.

"So as we have leases developing for different spaces in the Lincoln Building, we might work on one project at a time rather than taking the building on as a whole," said Carlos.

But the developers, Washington Street Properties and Purcell Construction, still vow to start work in the spring.

If the project works, it would be one more in a surprising string of building rehabs in the downtown area.

"Now that the Woolworth Building is going, we're glad that there's a local developer that's taking the building on and doing something with it," said City Planner Ken Mix.

And it's one project that may bring something different to downtown - a business incubator.

"So it offers a little bit of a home for them to start developing their plans for business," said Carlos.

for now, the Lincoln sits empty and locked. 

Maybe later this year, its turnaround will begin.

Wednesday, July 30, 2014
, Watertown, NY

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