Grace Johnston / WATERTOWN DAILY TIMES

Kristi L. LaCount, 22, unpacks her kitchen supplies Friday in her new apartment at the recently renovated Franklin Building on Public Square after moving to Watertown from Plattsburgh. The building now holds 16 apartment units for low-income residents.

Eight to Ten Commercial Spaces: Handful of inquiries inspires hope about downtown's future

With all of the apartments already rented, the operators of the newly furbished Franklin Building will focus their energies on filling the office and retail space.

So far, just 1,800 square feet of space has been rented by the North Country Arts Council, which hopes to offset the rental expense by bringing in artists to use 10-by-10-foot sections for work space.

While the other commercial spaces remain empty, Gary C. Beasley, executive director of Neighbors of Watertown, said earlier this week that four or five parties have expressed interest in becoming tenants in the three-story structure at 50 Public Square, with three of them looking at the same space.

Mr. Beasley wouldn't identify them or even say what types of businesses or organizations have looked at the storefronts and offices.

"They're in the kicking-the-tire stage," he said. "We have a lot of interest in that commercial space."

Depending on the tenants, the building has eight to 10 commercial spaces.

Agency officials have boasted about the job of bringing the structure back from dilapidated condition to a building featuring a lot of wood trim and interior office windows. City officials have said the restoration was crucial to downtown's upswing.

The $7.8 million project included about $3.8 million in tax credits and a $1.55 million grant from the Restore NY Communities Initiative Program. Construction was finished last month, to take advantage of the tax credits.

But work had to be halted last summer, while Neighbors obtained some gap funding, including $700,000 in stimulus money that had to be used by the end of this month.

Meanwhile, the 16 low-income apartments on the upper floors, served by an elevator, are quickly filling up, Mr. Beasley said. About 11 are occupied. His agency used a lottery system to rent them out.

On Friday, Kristi L. LaCount, 22, was moving into her new place after relocating from Plattsburgh. She'll be continuing her college career as an education student attending SUNY Plattsburgh's Jefferson County site.

"I've got to pinch pennies. I have no money," she said. "I was lucky. So this is great."