Binghamton, NY (WBNG Binghamton) It has a storied past of past owners, but the new owners of the Riverwalk Hotel say they're committed to staying in Binghamton and operating a fine hotel attractive to visitors.

Action News took an exclusive walk through the Riverwalk.

Signs of progress can be seen and heard all over as you walk through the Riverwalk. They are welcome signs to people who have worked there for a long time.

"You got to the point where you just tried so hard to maintain the property and nothing was happening," said Tilly Carbo, Riverwalk manager.

Moving ahead quickly, the developers say firmly that this will be the hallmark hotel of Binghamton.

"It will be," affirms Alan Weissman, owner/developer. "It really is an incredible facility here. Just the size of the ballrooms, the size of the kitchen, we're able to do so much here."

Guests are noticing the changes in a big way.

"We've been coming to the Riverwalk and the previous incarnations to the Riverwalk for the last fifteen years now," said Patrick Reilly, who was at the Riverwalk for a NYS Association of Realtors conference. "We pulled in last night, took a look around, looks great."

"We have booked so many weddings since New Year's Eve, because there's not that fear that the property's not stable," Carbo said.

The ballrooms are all refurbished and renovated. Gym equipment is brand new. Work is underway to a brand-new restaurant, as well.

"I've been out to dinner a lot of places here in Binghamton -- some good stuff around but we want to try and do things that are different and a departure from what everyone else is doing," said Michael Novarro, heading up the new Riverwalk restaurant.

It's a departure from the norm for this building. Developers hope the future is bright, and brings money downtown.

"Everything that's here is meant to be first-class, and it is," Weissman said.

The building's last owner was the City of Binghamton, which inherited the hotel after the previous owners, NJDV Hospitality, went bankrupt in 2009.

Alfred Weissman Real Estate bought the building for $3.6 million on December 15.