JOHNSON CITY, NY – A project to transform a relic of Endicott-Johnson’s industrial past that had become a major eyesore in Johnson City has reached a major milestone.
Victory Lofts has completed its model apartment and has begun signing leases for renters to begin moving in on January 1st.
Construction crews are busy installing large windows and building out 156 market rate apartments that will come in one bedroom and two bedroom configurations.
What was originally announced as a $40 million project by Paulus Development has now grown to over $55 million as inflation and supply chain problems increase the cost of construction.
The E-J Victory building was originally completed in 1920 and named in honor of the armistice following World War I.
Founder and President Matthew Paulus says he remains committed to his philosophy that great places are born of great history.
Paulus says, “It’s 60 feet wide by 1,000 feet long. The windows are over 20 feet long by 18 feet tall. Just tremendous. So, when you look at the Victory Lofts, you should expect a premium experience, quality housing, but you’re also going to notice that the craftsmanship behind Victory is consistent with what the historical significance of this building is. It’s great.”
This is the second conversion of a local historic factory building into residential apartments by Paulus following the opening of the 100 unit Ansco Camera Factory complex in nearby Binghamton in 2019.
Ansco has remained full with a waiting list which proves to Paulus that there remains a demand for loft style living among young professionals and empty nesters.
And with increased investment in Johnson City by Binghamton University and UHS, Paulus says Victory Lofts will be playing a complementary role.
Paulus says, “We knew that this could be part of the solution for this community. It’s something that the community can be proud of, both its economic and social history, but also in the current day, with all of the investment that is going on here, great housing is what’s needed.”
The pet-friendly complex will have plenty of amenities such as modern appliances, including washer and dryer, high ceilings, indoor parking on the first floor, a fitness room, business center, and a community room that opens onto an elevated outdoor party deck.
Paulus says there’s more focus on outdoor green space between the building and the railroad tracks with landscaping, benches and areas to walk your dog.
The contractors uncovered an original “V” symbol at the top of one of the stair towers which Paulus plans to replicate on all of the towers.
To sign up for leasing information, go to VictoryLofts.com.