A new Vestal Park Rehabilitation and Nursing Center facility is scheduled to be built starting in October. The Broome County Industrial Development Agency’s board unanimously authorized a 10-year payment in lieu of taxes, or PILOT, agreement earlier this month. The agreement is set to help Upstate SK, LLC, of Rockland County, finance the construction of the nursing home on Sheedy Road. After the flood of September 2011 destroyed the former 150-bed facility on Old Vestal Road, the Vestal Nursing Home has been operating 50 beds at the Greater Binghamton Health Center and 60 beds at the Willow Point Nursing home. The new facility will include a 160-bed skilled-nursing facility and a 40-bed assisted-living program. The project will reportedly add 155 jobs on top of the 135 that are expected to be retained, increasing the nursing home’s payroll to over $4.5 million per year over the next 10 years. The construction is estimated to cost about $33.7 million, and will increase the vacant property’s assessed value to $26.6 million.
