WATERTOWN, N.Y. -- The recent news that Fort Drum will lose about 1,500 to 2,000 soldiers has left many housing developers disappointed, but breathing a sigh of relief the number wasn't higher.
COR Development is putting the finishing touches on the first phase of the Beaver Meadow complex in Watertown, just behind Target on Route 3 and Lieutenant Governor Bob Duffy was in town to take a look.
The first phase has 168 units and of those, 107 are already pre-leased. The complex is about 40 percent military.
Duffy says having places like this, in busy parts of town, are key to both the soldiers staying in town and the area's success.
"There's a one percent vacancy rate, which I don't think there's a community around in the state that wouldn't die to have something like that. So given the fact it's one percent and given the fact the reductions are not going to be enormous or as devastating as they could have been, I do believe it's going to stabilize the market," Duffy said.
The second phase of this complex will have 130 more units, about 75 percent of which are already pre-leased.