ITHACA, N.Y. — The first fully electric conference center in the U.S. opened in downtown Ithaca on Tuesday.
The Ithaca Downtown Conference Center, located at 116-118 East Green Street, occupies the first and second floors of the 12-story building, with 143 low-income rental units above in the Asteri apartments.
Forty of the units are reserved for individuals and families facing homelessness, with on-site support services. All Asteri residents have access to free high-speed internet and amenities like a 12th-floor sky terrace and a gym. Rental applications are now open.
The conference center, the largest in the area, features a 12,300 square-foot grand ballroom, an executive boardroom, breakout rooms, trade show space and a fully electric commercial kitchen to cater future events.
The building was designed and developed by the Vecino Group and construction began in 2021 as the result of a decade of collaboration between funding and development partners across all levels of government, including Tompkins County, the City of Ithaca and the state.
The total cost of the development, according to the Vecino Group’s website, runs at just over $108 million, which includes the renovation and expansion of the eastern portion of the Green Street Parking Garage.
Stakeholders expect the investment in the conference center to significantly boost Ithaca’s local and tourism economies over the next 20 years, with an anticipated $322 million increase from indirect spending alone, according to Heather McDaniel, president of the Ithaca Area Economic Development organization.
Previous estimates from market studies on the feasibility of the project have concluded that the conference center will operate at a $225,000 annual loss, but local officials expect the surrounding economic impact to outweigh those losses.
New York Lieutenant Governor Antonio Delgado spoke at a ribbon-cutting ceremony Tuesday, where about 100 or so elected officials and community leaders gathered to celebrate the completion of the mixed-use development.
“A project of this magnitude, with such a transformational impact on an entire city block, takes a lot of hands, strong leadership, vision and tenacity,” Delgado said. “The people who love this city and love this region should be able to afford to live and raise their families here.”
A small store featuring grab-and-go food options cooked in the commercial kitchen is currently being outfitted and will be open to the public in the coming months, according to the venue’s website.
Empire State Development contributed $5 million to the project and over $58 million came from the state’s division of Housing and Community Renewal and its Energy Research and Development Authority.
The four hotels located in downtown Ithaca were directly involved in the decision-making process and, according to Mayor Rob Cantelmo, have each committed to sponsoring the project for the next 10 years through a third operating reserve to offset the expected annual losses.
Tompkins County Legislative Chair Dan Klein said the county has invested in the project by directing 4% of the revenue collected from the Hotel Tax Fund, which the aforementioned hotels collect.
The Hotel Tax Fund, which is financed by the Hotel Room Occupancy Tax Law, was created in 1989 by the Tompkins County Legislature to improve the local economy by stimulating tourism development. The new tax law implemented a 5% tax on overnight stays and directed that additional revenue to businesses and organizations that boost the tourism economy.
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