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Thursday, March 19, 2026

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​Asteri Owners Receive Notice of Default Following Vacancy Order

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Building safety concerns prompted the Tompkins County Industrial Development Agency to issue a notice of default to the property owner of Asteri Ithaca, an affordable housing project in downtown Ithaca with 181 housing units, on Monday, according to a TCIDA press release. 

TCIDA issued the notice of default, a statement that informs a company that it has not upheld its agreement with another company or contract, to the Vecino Group due to unsafe building conditions at Asteri, according to the press release. This follows Fire Marshal Robert Shepherd’s order for residents to vacate the building on March 4, “due to fire and safety concerns that created an immediate hazard,” according to a press release by Ithaca Area Economic Development.

The notice of default was issued due to a breach of terms in the agreement between TCIDA and the Vecino Group, the property owner of Asteri. The notice prompts the Vecino Group to to meet the terms of its agreement before TCIDA takes further action.

“The project management's failure to comply with all applicable regulations and codes is a disservice not only to its tenants, but also to the adjacent conference center, the Downtown Ithaca Alliance and downtown merchants, and the entire community,” said Kellea Bauda, administrative director of the TCIDA, in the TCIDA press release. “The TCIDA cannot continue to support the Asteri project unless and until it is properly managed and maintained.”

The Vecino Group has been given 30 days to address and correct the violations. The TCIDA will pursue remedies under the agreement if the issues continue after 30 days, according to the press release, including the potential for “termination of the incentives and recapture of financial assistance.”

Asteri was ordered to be vacated on March 4 due to broken windows and shattered glass that rendered the stairwells — the building’s only exit points — unserviceable in the event of  an emergency.

While Asteri is closed, the Vecino Group is providing displaced residents with alternate housing options. On March 7, the group announced they would provide funds for residents to stay in hotels until the repairs to Asteri are complete.

A fire safety test is scheduled for March 20. The Ithaca Fire Department will then review the results and consider lifting the order to vacate, according to a Tuesday press release sent to The Sun by Ithaca Chief Information Officer Alan Karasin. 

The safety test includes a stairway pressurization test “to determine whether the building’s pressurization system can help mitigate the severity of a fire emergency,” the Tuesday press release states. Once Asteri passes the safety tests, the city of Ithaca will lift the order to vacate, the release added. 

Further details regarding reentry will be communicated directly to residents as they become available, according to the Tuesday press release.


Madeleine Naumoff

Madeleine Naumoff is a member of the Class of 2028 in the School of Industrial and Labor Relations. She is a contributor for the News department and can be reached at mn635@cornell.edu.


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