Students head to the village green to enjoy a bite to eat in the Village of Hamilton. (Photo by Andy Daddio)
A new residential and retail development is planned for the Village of Hamilton, pending village approvals this month. This is good news for existing retailers and restaurants, as well as residents, as the project will draw people to the village core. The shift will restore quality of life to the neighborhoods and ultimately increase the housing options available to families and individuals moving to the community.
In a recent meeting with local landlords, Colgate President Jeffrey Herbst called the developer, Fairmount Properties of Cleveland, “a perfect partner.”
Noting that Fairmount has constructed many successful mixed-use projects, including ones near the University of Rochester and Kent State University, Herbst said, “Since 2000, the Hamilton Initiative has worked to strengthen the local real estate and retail economies, in order to attract investors and partners who would help grow Hamilton’s tax base, improve our schools, and add the amenities our residents say they need. Our village is healthy, thanks to a combination of local efforts, Colgate’s commitment, and now an infusion of new investment.”
Herbst has often said that Colgate and Hamilton are “inextricably tied.” The Hamilton Initiative has invested nearly $30 million dollars in projects from the Colgate Inn and the Sperry Building, to the Hamilton Movie Theater, the Palace Theater, the Chenango Nursery School, and several shops and restaurants. Plans are progressing for a $21 million Center for Arts and Culture, to be located in the heart of the village.
Fairmount expects to soon close on the purchase of the Wayne’s Market and Laundromat properties, where it will construct a new mixed-use facility that will accommodate 80 residents and retail space on the ground floor. Based on community input and assistance from Colgate, Fairmount is exploring various management and security options, as well as including a number of professionals to reside with students in the building.
Fairmount also hopes to construct townhouses on the open lot adjacent to the Oneida Bank, and is investigating options for developing additional housing for faculty, staff, and the community. “Together,” Herbst said, “these projects represent a tremendous and responsible growth opportunity for Hamilton.”
Joanne Borfitz, associate vice president for community affairs and auxiliary services at Colgate, said, “As Colgate competes to attract the best and brightest faculty, students, and staff, it is important that Hamilton have a variety of appealing restaurants, shops, and residential options.” She cited a 2012 survey of new faculty and staff at Colgate showed that 65% found that housing options were too limited and 75% sought more variety and number of options for dining, shopping and entertainment.
“By partnering with Fairmount Properties, we are responding to these needs,” Borfitz said.
Suzy Nelson, vice president and dean of the college, is pleased with the new project. “It is consistent with our master plan and strategic plan, which call for consolidating students and extending their learning beyond the classroom into their residences.”
To ensure a successful start for the project, Colgate has guaranteed full occupancy of a maximum of 80 residents. Students who live there will be among the 250 members of the senior class who are permitted to live off campus each year.
[Story last updated on 7/30/14 at 10:09 a.m.]