Michael MacDonald
Herald Editor
[private] A prospective developer who had expressed interest in building on Ithaca’s remaining Westwind Estates lots has backed out of the project.
City Manager Jamey Conn reported the development at a December council meeting, citing a market downturn and difficulty securing builders.
The city and the unamned developer entered into a 90-day letter of interest in late August, creating a window to negotiate a purchase price and construction timeline.
Under the terms of that agreement, the city retained a nonrefundable deposit.
Westwind Estates is a city-owned subdivision with access from Union Street and Norton Gibbs Drive.
A lot sales and restrictions document posted on the city’s website lists six buildable lots still available. The parcels range from about 0.36 to 0.96 acres, with listed prices between $11,512 and $16,611.
Those prices were established by the council in 2017, based on 50 percent of the 2016 state equalized value, an approach intended to encourage residential construction after years of slow sales.
Subdivision standards require detached single-family homes with an attached two-car garage. Minimum home sizes are set at 1,400 square feet for a single-story residence or 1,700 square feet total for a two-story home.
Westwind Estates was platted in phases beginning in 1994 and includes 39 total lots.[private]