New Rothschild Brothers Department Store

“Where a vacant lot now exists (formerly the Ithaca Hotel) will be a new 90,000 square foot Rothschild’s Department Store.”

“Rothschild’s Project: Gateway or Bottleneck?” January 25, 1974, 34.

“June 25, 1971—Caldwell Development Corp. unveiled a "radically different proposal" for the development of the Ithaca Hotel block, including the re- development of adjacent blocks. The plans called for the construction of a new Rothschild's Department Store, a hotel and a 400-car, two-tier parking garage. 

 

Nov. 1, 1971—After having the signing deadline extended from Oct. 15 to Nov. 5, James Rothschild, the president of Rothschild's Department Store, signed the agreement to develop the hotel block. 

 

Nov. 4, 1971—Rothschild announced he had secured financing for his part of the project, and president of the Savings Bank of Tompkins County, W. Robert Farnsworth, announced his bank would handle the financing of the Rothschild's Department Store project. 

 

Nov. 17, 1971—Common Council modified the terms of its development agreement with Caldwell, deleting the requirement that Caldwell construct a hotel. Rather, it left the option of constructing a hotel up to Caldwell- dependent upon whether or not a suitable tenant could be found. 

 

Jan. 26, 1972—Common Council unanimously accepted the New York architectural firm of Warner, Burns, Toan and Lunde as architects for the parking garage. 

 

Feb. 7, 1972—A second development agreement was signed by the five parties involved, agreeing to the construction of a Rothschild's Department Store, a parking garage, and for the first time, an indoor shopping mall to be constructed and owned by Caldwell Development Corp. Rothschild presented UDC with an "irrevocable letter of credit for $25,000, a good faith commitment that he would proceed with the project." Rothschild said construction on his new store would begin no later than April 1. 1973. The five parties signing the agreement included the city, the Ithaca Urban Renewal Agency, the State Urban Development Corp., Caldwell Development Corp., and Rothschild's Brothers. 

 

Dec. 28, 1972—Facts and figures on the city's share of the Rothschild's-Caldwell project and the 450-car parking ramp were revealed at an informational meet- ing of Common Council. The base construction cost of the garage was placed at $1,512,847 with the possibility it could go as high as $1,610,797 if the city chose to include $20,000 for additional ticket control, $20,000 for additional lighting, $50,000 for snow melting controls and $7,950 for pedestrian walkways. The total cost, including fees, was estimated at $2 million.”

“…A ‘Mystery Developer’ Appears, Disappears…In ’71, A Garage Halted…” May 13, 1974, 9.

“Demolition of the old Rothschild’s department store began this morning, while 40 paces away the new store is nearing completion on schedule. The old store first opened its doors in 1889. It will remain in business until Friday, Aug. 15, when it will close for the big move down the State Street mall…The escalators—Ithaca’s first, and the only ones for miles around, are tested and ready to roll…The new store has been in the planning for nearly four years. Rothschild said costs will total more than $3 million, nearly three-fourths of that amount spent on the building and the rest on interior work and new selling fixtures.” 

 “Rothschild said his new 80,000-square-foot building has 55,000 square feet of selling space—slightly more, on only two floors, than the 45,000 [square feet] his old store had on five.” 

 

“Architect of the building, chosen by the state’s Urban Development Corp., is the firm Warner, Burns, Toan and Lunde, and interiors are by Christopher and Gilbert, a New York City firm that has done considerable store design…The store’s construction is being financed through $2.5 million worth of bonds, issued by the Tompkins County Industrial Development Agency.”

“Down Tumbles the Old, Up with New Rothschild’s” Ithaca Journal, August 5, 1975, 3.

“A chattering crowd estimated at more than 1,000 pushed through the main entrance of Rothschild’s as the new store opened for business this morning.”

“Rothschild’s Opening Attracts 1,000,” Ithaca Journal, August 21, 1975, 3.