A construction company based in Elmira purchased an 8-acre plot of land next to The Haunt for $4.2 million, records show, although it is not clear what is planned for the location bordering the Cayuga Inlet.
The contracting and construction company, Edger Enterprises, Inc., purchased the property through a limited liability corporation called City Harbor, which was formed in September, state records show.
The property, at 101 Pier Rd., borders where Cascadilla Creek meets the Cayuga Inlet, and was most recently assessed at $2.378 million, according to Tompkins County records.
The property was formerly the site of Johnson’s Boatyard, The Ithaca Voice reported, noting that, generally, properties purchased at a price high above assessment often means development plans are in the works.
Edger Enterprises served as the general contractor for the Elmira Savings Bank at 602 West State St. and the Texas Roadhouse Restaurant on South Meadow St., The Voice reported.
The purchased property sits across the creek from the Ithaca Farmers Market.
In 2012, John Snyder Architects proposed building 203,000 square feet of housing in the area with 183 units, which was approved by the Planning Board. The Voice reports that the project failed to move forward because of financial difficulties.