309 College Ave Ithaca, NY 14850

This exceptional 0.2-acre development site in Ithaca, NY, presents a rare investment opportunity. Located at 309 College Ave, in the heart of Cornell University's Collegetown, this property offers significant potential for high-density development. The MU-2 zoning permits a six-story building with 100% lot coverage and no parking requirements, allowing for the construction of over 47,000 square feet. A variety of uses are permitted, including hotels, student housing, apartments, condominiums, and mixed-use developments, catering to the vibrant college town's high demand. Ithaca boasts a population exceeding 100,000, including over 30,000 students from two major universities. The city also benefits from a thriving biotech manufacturing sector, a regional hospital, and several community colleges. Its strategic location offers easy access to major cities, including New York City (4 hours), Albany (3 hours), Buffalo (2.5 hours), and Syracuse (1 hour). The property is being offered through a sealed bid process, with all bids due by December 19, 2024. Detailed information and bid documents are available upon request. Built in 1968, this one-building site presents a blank canvas for a lucrative development project.