LOFTS@JC, a new apartment complex created to service students and staff at Binghamton University, has opened its doors in Johnson City.
Located at 128 Grand Ave., LOFTS@JC is within walking distance of BU’s Health Sciences Campus, United Health Services (UHS) and UHS Wilson Medical Center.
Praveen Kamath, founder and managing member of AOM Investments, the company that owns the property, said location was essential in determining where the apartment complex would be constructed.
“The primary reasons for this location choice are that it is one block away from the new BU Health Sciences Campus,” Kamath wrote. “Our goal is to provide a premium product, professional management and to be our tenants’ home away from home.”
The building features multiple amenities, such as a fitness center, a lounge and game area, a copy room and a study conference room.
Additionally, the apartment complex has gated secured surface parking and high-speed internet. Each apartment comes fully furnished with appliances, including laundry machines.
Kamath said it was a positive experience opening the complex, as he received support from different areas of the community.
“We have been open now for about two months, and the response has been incredible,” Kamath wrote. “We have managed to create an amazing blend of tenants, students and young professionals, all enjoying living in a pleasant environment, a real ‘home’ for most of our tenants. Many know each other and often congregate together. The village of Johnson City has been tremendously supportive, as has the BU staff at the [School of Pharmacy and Pharmaceutical Science] and [Decker College of Nursing and Health Sciences].”
Currently, 19 of the 24 units within the complex are taken. The third floor, which opened about a month ago, has more units available. However, the first and second floors are fully occupied.
According to Kamath, there are a variety of tenants, including both undergraduate and graduate students. Kamath said there are various housing options for students, ranging from one to three bedrooms.
“The unit mix is as follows, six one-bedroom, one-bathroom units for $1,450 [per] bedroom, six two-bedroom, two-bathroom units [for] $1,100 per bedroom and 12 three-bedroom, three-bath units for $900 per bedroom,” Kamath wrote. “Our goal was to provide unit types at different price points to match the budgets of a variety of tenants looking for premium housing.”
Laura Guerrero, a senior majoring in English, expressed some concerns she had in regards to the effects of the complex on the local community.
“While I think that an apartment complex would make Johnson City more lively, I do think that it would gentrify the area,” Guerrero said. “I think the residents of Johnson City would be at a disadvantage here, and I think, when constructing these premium complexes, we should consider the welfare of those residents as well.”
Jenna-Marie Gaston, a junior majoring in systems science and industrial engineering, said she views the prices of the apartment complex as disadvantageous for some students.
“It’s good that there’s another community for students,” Gaston said. “However, I feel like it is only benefiting a certain type of student who can afford these prices.”
LOFTS@JC is leasing its few remaining units and pre-leasing for the fall of 2021. The lease terms begin in Aug. 2021 and go until July 2022.