As reported by Ithacating and the Ithaca Voice, Jason Fane, property developer and owner of Ithaca Renting and The Fane Organization presented a sketch plan proposal at the last City of Ithaca Planning Board meeting to build a 12-story building on his parcel at the corner of College Avenue and Dryden Road (former home to the Green Cafe). The plans show a 12-story L-shaped structure with three ground floor retail spaces, a stairwell/elevator core, circulation layout, and apartments adjacent to Collegetown Center, a 6-story mixed-use building owned by Mr. Fane and managed by Ithaca Renting. The plans were done by Architect Jagat P. Sharma. In addition to Ithaca, The Fane Organization owns property in Harlem, NY, and is developing a 47-storey condo tower in Toronto, Chaz Yorkville (latest construction update with photos here).
The current zoning of the parcel is MU-2, which carries a height restriction of 80 feet at 6 stories maximum, so the proposal would need to seek and be approved for a zoning variance to build higher than current zoning allows.