Construction of $25 million Water Street parking garage begins

BINGHAMTON, N.Y. (WIVT/WBGH) — Mayor Kraham proclaimed this an exciting day for downtown Binghamton and its merchants as construction of the new Water Street parking ramp is finally underway.

A giant crane now looms over the city as crews begin the process of placing 508 pieces of precast concrete weighing as much as 60,000 lbs each. The former deteriorating garage was demolished in 2022 and the project to replace it was delayed when efforts to secure tax breaks to support a mixed-use parking and housing development failed.

So, the 5 floor ramp under construction will be parking only with roughly 500 spots. They’ll be divided into two sections, with 60 spots at street level with an entrance off Water Street dedicated to short term, two-hour parking only for neighboring Boscov’s and other downtown retailers and eateries.

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The remaining floors will be accessed around the corner on Henry Street and will be for both long-term, monthly rentals and short-term parking. Kraham says the $25 million garage will be constructed like a LEGO set much like the last one on Hawley Street.

“Pay attention because this garage will go up very, very quickly. In a matter of a few weeks, residents will be really surprised and shocked as to how fast this garage will come up,” Kraham said.

Kraham says the ramp is being constructed in a manner so that additional levels of housing could still be added in the future. He says the city will bond for the project and that parking revenues will help to pay for much, but not all, of those costs.

The mayor says the goal is to have at least the street level section open in time for the holiday shopping season.

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