ÈËÊÞÐÔ½»

Signs were posted by Pyramid Brokerage Co., a commercial real estate firm, on the vacant factory Friday. It is a significant step toward finding a new use for the 15-acre property.Ìý

Paul Mackey, an agent with Pyramid Brokerage Co., told ÈËÊÞÐÔ½» there were discussions with Alstom, the facility's owner, about the sale process before it was listed.Ìý

"The property has been a nonperforming asset and that's been the case for 17 years," Mackey said. "Our goal was to understand better what the community was hoping to see happen and try to match the community's needs along with what Alstom's goals are." 

There is no list price, according to Mackey. Interested parties may conduct a walkthrough and will be asked to sign a non-disclosure agreement to access "a vault of information," he said. Once they have completed those steps, they can submit an offer to Alstom.Ìý

Cayuga County property records show the full market value of the complex is $1.2 million. It includes four buildings, the largest of which is more than 144,000 square feet.Ìý

Alstom, a rail infrastructure manufacturer, in 2021. The transaction included the Auburn property, where Bombardier operated a production facility until it closed in 2006.Ìý

In March, the Cayuga Economic Development Agency revealed that Alstom agreed to market the property. During a meeting with representatives from Alstom and the city of Auburn, then-CEDA Executive Director Michael Miller said the company committed to finding a productive use of the facility.Ìý

Earlier this year, CEDA received an inquiry from a site selector seeking more information about the former Bombardier plant. Site selectors are typically used by companies looking to expand or develop new facilities.Ìý

There was another important development in May, when the state awarded $8.5 million to the city of Auburn to renovate the abandoned factory. The funding was provided through the Restore NY Communities Initiative.Ìý

Maureen Riester, CEDA's economic development specialist, told ÈËÊÞÐÔ½» the agency has continued to market the property and highlighted the state grant as "a significant incentive that will surely help our site submissions stand out among the rest." 

Auburn City Manager Jeff Dygert provided another update at the City Council meeting on Thursday. He said Jenny Haines, the city's director of planning and economic development, and Christina Selvek, director of capital projects, have been meeting every two weeks with Alstom representatives and Pyramid Brokerage Co. agents.Ìý

Dygert also noted that the property remains privately owned. Before Alstom acquired the site, Bombardier paid its property taxes and was in communication with the city. However, Alstom "has really stepped up their game and is working with us to return that property to productive use," he said.Ìý

With Alstom actively trying to sell the property, Auburn Mayor Michael Quill is encouraged by the progress over the past several months. He recalled during his first term — he was first elected mayor in 2007 — that there was interest in the site and various proposals, but those plans never materialized.Ìý

Quill called the shuttered factory "a black eye for the city" because of its location on the west end. It can be seen by motorists entering Auburn on the Arterial.Ìý

He praised the city's staff, namely Dygert, Haines and Selvek, for their work. He also thanked Alstom, which he said has been "very sincere about understanding our plight and what they could do to help us." 

"I see this as a step forward," Quill continued. "I've been mayor almost 16 years now and it sat vacant a good portion of that time. It could be a very valuable piece of property, whether it's reutilized as a factory or if something else is done with it."