Work is Done on New $96M Ithaca Housing & Conference Center

Governor Kathy Hochul has announced the completion of the $96 million Asteri Ithaca project, a new affordable housing development and conference center in downtown Ithaca.

The 12-story, all-electric building, features 181 apartments, including 40 units with on-site support services for people experiencing homelessness. This is part of a broader effort by New York State Homes and Community Renewal, which has created or preserved over 1,000 affordable homes in Tompkins County over the past five years. The Asteri Ithaca project also includes a 55,000-square-foot Ithaca Downtown Conference Center, designed to boost the city’s economic growth. The state-of-the-art facility offers a range of bookable spaces, including an executive board room, grand ballroom, breakout rooms, and a full production kitchen.

The residential portion of Asteri Ithaca comprises the top nine floors of the building and includes 78 studios, 87 one-bedroom, eight two-bedroom, and eight three-bedroom apartments. Rents are affordable to households earning up to 80 percent or less of the Area Median Income.

Residents have free internet service, with each unit hard-wired for 5G access, including routers for WiFi. Amenities include a 12th-floor sky terrace, outdoor space, and a fitness center and community room. There is a laundry room on each floor and indoor bike storage on the ground floor. The eastern portion of the Green Street Parking Garage has been renovated and expanded to include 350 parking spaces, with spots available for building residents to lease

Empire State Development is backing the $34 million conference center with a grant of up to $5 million. Additional financial support came from the City of Ithaca, the Tompkins County Tourism Program, the Tompkins County Industrial Development Agency, several downtown Ithaca hotels, and the Downtown Ithaca Alliance.

“Asteri Ithaca is a transformative development that combines quality affordable, sustainable and supportive apartments for those who need them most, with a state-of-the-art Conference Center that will energize and elevate the entire City,” Governor Kathy Hochul said. “This mixed-use development was carefully planned as a live, work, play destination that promotes economic growth and addresses a critical need for housing. It is a shining example of our commitment to investing in projects that strengthen communities and change lives.”