A “Building of Excellence” in Upstate New York
Rendering of THE BANK LOFTS © River Architects, PLLC
At THE BANK LOFTS, in Otsego County, New York, we’re helping set a new gold standard for revitalizing the architecture and economy of America’s heritage-rich downtowns.
The bold vision begins with saving the long-vacant First National Bank of Richfield Springs, at 118 West Main Street—a three-story, brick-veneer structure that remains a repository of our community’s proud cultural history. And we’re doing it with an eye on the future.
Our team’s bold adaptive reuse plan will convert the long-vacant former bank building into beautiful, energy-efficient, long-term rental apartments and ground-floor commercial space designed to serve a new generation. For owner/developers Faith E. Gay and Francesca Zambello, partners in locally based Dooalot, LLC, the project represents an investment in community. Ultimately, they hope to inspire others to rediscover the beauty and potential of a Central New York village that earned its reputation—and its early prosperity—as a 19th-century spa resort and Gilded Age playground, famous for its mineral springs and vibrant social life.
An award-winning plan
Scheduled for completion in Spring 2024, the $2.5 million retrofit plan has been named one of 10 regionally significant projects to share $12 million in support as part of the New York Department of State’s Carbon Neutral Community Economic Development program, administered by the New York State Energy Research and Development Authority (NYSERDA).
River Architects, PLLC’s carbon-neutral design also won statewide recognition and support in the latest round of NYSERDA’s ambitious Buildings of Excellence competition (early stage design component), which spotlights plans for multifamily buildings that demonstrate replicable clean-energy solutions straight from the drawing board.
Both grants—totaling more than $1 million in NY State support—aim to encourage carbon-neutral building projects that model safe, comfortable living spaces for the people who occupy them and attractive long-term business opportunities for owners.
“This award-winning design demonstrates how low-carbon green buildings provide energy savings and health benefits for occupants while supporting Governor Hochul’s commitment to achieve two million climate-friendly homes by 2030.”
—Doreen M. Harris, President and CEO, NYSERDA
The trusted team
Architect Juhee Lee-Hartford of River Architects, PLLC, will direct the $2.5-million retrofit in close collaboration with local builder Simple Integrity, LLC, led by principal Josh Edmonds, an artisan builder who grew up in nearby Cooperstown.
When complete, the sensitively converted circa-1882 building will offer:
9 beautiful, clean, comfortable, loft-style residential rental units, including one ground-level ADA-accessible residence
ground-floor commercial space, featuring high-quality products sourced from local farmers, artists, and makers
a welcoming internet cafe
on-site bike storage, EV-charging stations, and solar array
The plan will also repurpose the former bank’s massive walk-in vault, mosaic-tile flooring, and elegant marble and brass details—further preserving the structure’s antique character while reducing waste.
“We’re hoping to create a ripple of confidence that will continue all the way up and down Main Street, attracting more people to live, visit, and support businesses and job opportunities in this beautiful and historic community that has been so good to us.”
—Francesca Zambello, owner/developer, the Bank Lofts
“Faith and I are pleased to be joined in this endeavor by a project team that shares our commitment to creating housing that supports what we think of as ‘community-based living,’” Francesca says.
For architect Juhee Lee-Hartford, founder and managing principal of River Architects, PLLC, the goal is to re-create the look and feeling of the old building while making it structurally sound, comfortable, and healthy to live in. “Retrofitting existing buildings to net-zero carbon is the next wave of architecture—especially in the Northeast, where so much of our stock pre-dates 1980,” she explains. “We couldn’t be happier to have helped win NYSERDA’s recognition and generous support for this exciting project, which could mean so much for Richfield Springs and communities throughout the state.”
Follow us on Instagram | @thebanklofts and @nyserda
Learn more at nyserda/ny.gov and www.nyserda.ny.gov/boe