What: Int. 357, agreements and an appropriation for demolition of the Terrence Building, 1201 Elmwood Avenue, the former state psychiatric hospital (built 1956, mostly vacant since 1995).
Where it stands: Sent forward by the Neighborhoods, Jobs and Housing Committee on 2026-10-06. The $20 million is state money that the City passes through on a reimbursement basis; no City dollars are committed and the developer covers any cost above $20 million.
Next: Abatement can begin once the state funding agreement is in place; abatement and demolition each take about a year.
Details
A representative of the developer, Whitestone Development Partners, said the project has the needed federal and state labor approvals to start abatement and has held neighborhood meetings.
City staff said they will review payment requests and sign off before state funds are passed through, similar to a Restore New York grant.
Sources
YouTube captions of the October 6 committee meeting, and the City's posted agenda.