THE BANK LOFTS
THE BANK LOFTS Richfield Springs, Otsego County, NY
The Bank Lofts project repurposed a three-story, circa-1882 building that had served as the home of the First National Bank of Richfield Springs, New York, for more than seven decades. This mixed-use renovation provides attractive, energy-efficient, market-rate apartments designed to serve a community severely lacking in quality housing—and to attract a new generation to a picturesque village primed for economic resurgence. The new residential units accommodate the growing number of mid-career professionals drawn to live and work in Otsego County, including those in tech, the creative industries, and healthcare and wellness sectors.
In addition to extensive structural reinforcement, brick repair, and the replacement of windows and doors, the project preserved and restored the building’s 19th century fabric. The team restored the tiled floor, rehabilitated the historic walk-in vault, and repurposed original bank teller booths as office partitions. The interior’s 14,787 gross square feet were reconfigured to meet the community’s growing need for quality housing and services. Approximately 8,389 square feet were allocated for multifamily residential use, and 2,575 square feet were designated for commercial space. Upon completion, the long-vacant building offered nine high-quality residential units—two studios, five one-bedrooms, and two two-bedrooms—including one accessible ground-level unit, along with ground-level commercial space, basement storage, and off-street parking.
The project is Phius CORE REVIVE 2021 certified, with reduced mechanical systems sizing and total energy use. No fossil fuels are used on site. Electric power is supplemented by a solar array. Electric cooktops and heat pump clothes dryers have been installed. Heating, cooling, and domestic hot water (DHW) are provided by air-source heat pumps, with DHW using CO₂ as a refrigerant to further reduce the global warming potential of the building’s systems.
Phius CORE REVIVE 2021 Certified, June 2025.
This project is a 2023 NYSERDA Buildings of Excellence Award Winner. Learn more about NYSERDA's recognition of the multifamily Bank Lofts project .
Learn more about this project at www.bankloftsotsego.com or at The Bank Lofts.