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SYRACUSE II THE DOWNTOWN TRANSFORMATION - Sponsored By: Shopify
Revitalize
      SYRACUSE II
               THE DOWNTOWN TRANSFORMATION

Sponsored By:												                                  Endorsed By:

                                   SEPTEMBER 24, 2018 I ISSUE 38 I $5.00
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SYRACUSE II THE DOWNTOWN TRANSFORMATION - Sponsored By: Shopify
TABLE OF CONTENTS                                                              Business Journal
                                                                               News Network
     4      The Evolution of Downtown Syracuse’s Revitalization                REVITALIZE SYRACUSE II

     6      The New Generation of Downtown Developers                                   NEWS
                                                                                  EDITOR-IN-CHIEF
     8      Downtown Syracuse Restaurants are Mushrooming                           Adam Rombel
                                                                                 arombel@cnybj.com

     9      Allyn Family Foundation plans to build $22M mixed-use                ASSOCIATE EDITOR
                                                                                 Maria J. Carbonaro
            structure at 484 Salina St.                                         mcarbonaro@cnybj.com

   10
                                                                                    STAFF WRITERS
            TCGPlayer’s new headquarters to transform The Galleries                  Eric Reinhardt
                                                                                 ereinhardt@cnybj.com

   12       Syracuse’s festivals boost downtown spending, lifestyle            CONTRIBUTING WRITERS
                                                                                 Charles McChesney

   14       Crews continue work on Whitney Lofts project on South Salina St.
                                                                                  Catherine Leffert
                                                                                 Norman Poltenson

   16       Armory Square–based Beerboard plans to double in next year           CREATIVE DIRECTOR
                                                                                     Erin Zehr
                                                                                  ewebb@cnybj.com
   18       NBT Bank moves downtown branch to new location                       RESEARCH DIRECTOR
                                                                                   Vance Marriner
   20       YMCA of Greater Syracuse downtown renovations include                vmarriner@cnybj.com

            men’s residence                                                             SALES
                                                                                   Dony Kuriakose
  22        Gillibrand discusses historic preservation in Syracuse stop         dkuriakose@cnybj.com
                                                                                     Alicia Zaret
  24        Downtown Committee’s Treier highlights project activity               azaret@cnybj.com
                                                                                     MARKETING

  26        Crews convert 1st floor space at 250 S. Clinton St. into offices
                                                                                  BBB Marketing Inc.

                                                                                    CIRCULATION
  34        Onondaga County visitor spending totals $865M in 2017               Circulation Management
                                                                                     (315) 579-3927
  35        Viewpoint: Major UAS industry announcements spotlight                 ADMINISTRATIVE
            region’s leadership
                                                                                    PUBLISHER
                                                                                   Marny Nesher
                                                                                 mnesher@cnybj.com
Sponsors:
                                                                                PUBLISHER EMERITUS
                                                                                  Norman Poltenson
                                                                                npoltenson@cnybj.com

                                                                                 BUSINESS MANAGER
                                                                                     Kurt Bramer
                              Endorsed By:                                       kbramer@cnybj.com

2 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
SYRACUSE II THE DOWNTOWN TRANSFORMATION - Sponsored By: Shopify
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                                                                                        NG_UNCF // Central NY Business Journal // Sponsor Message
                                                                                           TrimREVITALIZE SYRACUSE:
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                                                                                                             // Cover   DOWNTOWN          Syracuse II I 3
                                                                                                                                   TRANSFORMATION
                                                                                                                               Revitalize
ENGIE-0312_Syracuse_Sponsorship_Elements_Sponsor_Message_Ad.indd 1   8/14/17 11:13 AM
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The             EVOLUTION
                                                           of Downtown Syracuse’s
                                                           REVITALIZATION

BY NORMAN POLTENSON I Contributing Writer I news@cnybj.com

The Pioneers                         Center Armory as a mixed-use
                                     facility. Shapiro, whose family
                                                                           percent. Currently, downtown
                                                                           Syracuse boasts a population of
   The revitalization of down-
town Syracuse was launched           owned a haberdashery, was             3,600 people. The demand for
over a bottle of wine. The year      lured from his mall location by       luxury lofts and apartments is
was 1982. Bob Doucette and           Doucette, and Pat Heagerty,           strong, and developers often
his wife were having dinner at       the owner of Pastabilities, to be     lease their units even before the
Phoebe’s with George Curry           the anchor tenant in the Hogan        buildout is completed. Just last
and his wife when the topic          Block. Shapiro, the owner of the      year, downtown celebrated the
turned to living in an urban         Mr. Shop, confesses that when         opening of 18 new retail shops,
setting that was vibrant, close      he moved downtown in 1990 it          and corporations continue to
to amenities, and diverse. That      was a leap of faith. Twenty-eight     move their headquarters down-
conversation eventually led to       years later, he still peddles styl-   town. Today, 29,000 people
the formation of the Armory          ish garments and accessories          work in the city’s core district
Development & Management             from the same storefront on           in a variety of industries, includ-
Co. in 1984, which focused on        the corner of West Fayette and        ing technology, engineering,
the Armory Square area com-          South Franklin Streets.               finance, accounting, law, insur-
prised of historic structures,                                             ance, advertising, architecture,
slaughter houses, and dilapi-        Fast forward to 2018                  public relations, and marketing.
dated warehouses, many aban-             To this writer, who has lived
doned because retailers and          in Syracuse for 80 years, the         Current urban trends
residents had fled to the sub-       city’s core has been trans-               About a half-dozen key
urbs. Doucette likes to quip         formed. Just in the last decade,      trends are driving this urban
that in the mid-1980s “… you         downtown Syracuse has wit-            redevelopment. First, millenni-
could have bought half of down-      nessed investment exceeding           als are attracted to the urban
town for a couple of million         $660 million, of which one-third      scene because downtowns
dollars.”                            has been invested in residential      offer multi-functional uses.
   Doucette and Curry were fol-      development. Currently, there         Where else can you find shop-
lowed by other developers such       is $360 million of investment ac-     ping, services, professional
as Steven Infanti, Sr. and retail-   tivity underway or announced          offices, hotels, churches, hous-
ers such as Joel Shapiro. Infanti    in projects such as The State         ing, entertainment, art, librar-
was a contractor who, in 1986,       Tower, The Empire, the                ies, dining, government offices,
worked on one of Doucette’s          Tallman Block, 239 E. Water St.,      and more — all within walking         PHOTOS CREDIT: ADAM ROMBEL/BJNN

projects — the Labor Temple.         and the Whitney Lofts. The res-       distance. Young people breathe
Infanti went on to develop the       idential population has explod-
                                     ed over this same period by 77
                                                                           life into downtown districts not
                                                                           just during the day but also on
                                                                                                                 4CONTINUED ON PAGE 38
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4 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
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                                                                        REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II I 5
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THE NEW GENERATION OF
Downtown Developers
BY NORMAN POLTENSON I Contributing Writer I news@cnybj.com

Urban development has attract-                     apartments on the top three floors, a total of
                                                   37,500 square feet. The project is part of a
ed a new breed of developers to                    total redevelopment of the 400-block of South
downtown Syracuse. Steve Case                      Salina Street, which includes the Empire
                                                   Building, the Marriott Syracuse Downtown,
and Matthew Paulus represent                       and Sibley’s.
this new generation. Here is a                         Case is also a partner with Ryan Benz,
look at both men and their de-                     the director of property management at                            STEVE CASE
                                                   Acropolis, and Dr. Shashank Bhatt to develop
velopments.                                                                                                        FOUNDER/PARTNER
                                                   the Whitney Lofts at 321-323 S. Salina St. The
                                                   $4.2 million project turns the building, which                   Acropolis Realty Group
                                                   is listed on the National Register of Historic
Steve Case                                         Places, into a mixed-use structure with a
    Steve Case grew up in Baldwinsville,           speakeasy in the basement, a restaurant on
graduated from Bucknell University in 2007         the first floor, and on the upper four floors, 16
with a major in economics, and returned to         apartments of which four are two-bedroom
Syracuse just in time to experience a national,    and the remainder one-bedroom. The apart-
financial meltdown.                                ments range from 900 to 1,400 square feet.
    “I worked with my father who taught me             “Our [commercial] focus is 95 percent on
at an early age a great deal about how to          downtown development,” says Case. Still, the
run a business and manage employees,” he           company doesn’t miss an opportunity even
says. “It was a great learning experience.”        if it’s outside the urban center. Acropolis
In 2009, Case matriculated at the Martin J.        Property Management is currently working
Whitman School of Management at Syracuse           with Lionheart Capital, a Miami–based, glob-
University, earning his MBA in 2011.               al, real-estate developer which owns the for-
    One of his instructors was Bob Doucette,       mer Macy’s store at Great Northern Mall in
the doyen of developing downtown real estate.      Clay. Acropolis is responsible for the leasing
Case interned with Doucette at Paramount           and management of the 88,000-square-foot,
Realty Corp. and went to work there after          free-standing store. The plan is to develop the

                                                                                                                                                        PHOTO COURTESY OF MATTHEW PAULUS
graduation as the leasing director selling         rebranded “The Shoppes at Great Northern”
commercial real estate and leasing condos.         into restaurants and an entertainment com-
In 2015, Case left Paramount and launched          ponent, along with high-end retail space. On
Acropolis Development, LLC. Acropolis              the residential side, Case is a partner with his
Development, which focuses on commer-              mentor in Xavier Woods, a residential devel-
cial development, is today complemented            opment of 33 custom homes located within
with Acropolis Property Management, LLC,           the city limits and one mile from Syracuse
which handles commercial properties, and           University. To date the partners have sold
Acropolis Realty Group, LLC, which sells           seven residences.
residential property. The corporations em-             At age 33, Case is on the fast track and
ploy eight people full time and support 16         fueled by optimism. Six months ago, he                      MATTHEW PAULUS
independent agents.                                moved his companies into space at 247 W.
    Some of Case’s projects include the Isabella
                                                                                                                         FOUNDER
                                                   Fayette St. in downtown Syracuse. Acropolis
Lofts at 1109 N. Townsend St., formerly the        has already outgrown the space and is look-                       Paulus Development
home of the Assumption School. Partnering          ing for a new location. While all facets of the
with Troy Evans, another member of the new         business are growing, the residential real-es-
breed of urban developers, Case converted          tate side is growing most rapidly. “There is a      that’s not too bad either.”
the property to 29, one- and two-bedroom           buzz downtown,” notes Case. “The demand
apartments. The two developers priced the          for residential space opens opportunities for       Matthew Paulus
units in the $900 to $1,200 range, quickly         continued development, and the banks are               Paulus, one of seven children, grew up
attracting young professionals. Isabella Lofts     ready to finance these projects, especially if      in Syracuse, attended Christian Brothers
is an example of the “ring-development” adja-      you have a [successful] track record. We’ve         Academy, and went on to enter Georgetown
cent to the city’s core.                           assembled a talented group of employees             University. He graduated in 2004 with a
    Case is also a partner in the redevelop-       and independent agents at Acropolis support-        bachelor’s degree in business administration
ment of the former, downtown, Addis Co.            ed by a team of architects and contractors          and a major in finance before returning to
department store, which remained empty             … My goal is to model my career after Bob           Syracuse. That summer, the new graduate
for nearly a quarter century. The $5.6 mil-        Doucette who developed a vision of what             joined the Pyramid Companies and began
lion project includes retail space on the first    downtown could be. I want to continue that
floor, offices on the second floor, and 18         dream, and if I make money in the process,                                   4CONTINUED ON PAGE 36
6 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
SYRACUSE II THE DOWNTOWN TRANSFORMATION - Sponsored By: Shopify
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SYRACUSE II THE DOWNTOWN TRANSFORMATION - Sponsored By: Shopify
Downtown Syracuse
                                                                                         Restaurants are
                                                                                         Mushrooming
                                                                                         BY NORMAN POLTENSON I Contributing Writer I npoltenson@cnybj.com

                                                                                         T
                                                                                               he key to every suc-        ing on food with no chem-
                                                                                               cessful business is         icals, pesticides, hormones,
                                                                                               understanding your cus-     or antibiotics; and humane
                                                                                         tomers and segmenting them        animal treatment. Another
                                                                                         by value. In short, what do       trend is the emphasis on
                                                                                         your customers want, need,        fresh food, being socially
                                                                                         and expect, and because           responsible, and ensuring
                                                                                         every enterprise has limit-       high quality. Customers want
                                                                                         ed resources, what are they       to know about the ingredi-
                                                                                         worth to your firm in actual      ents, the growing and pro-
                                                                                         or potential sales? Without       cessing methods, fair trade,
                                                                                         a clear understanding of its      diversity, the environmental
                                                                                         customers, every business is      impact, and whether the
                                                                                         flying blind.                     employees are receiving a
                                                                                            Understanding your cus-        living wage. Today the cus-
                                                                                         tomer is especially critical      tomers are trending to vegan
                                                                                         and difficult in the restau-      meats, edible flowers, sugar
                                                                                         rant business. Consumer           alternatives, super powders,
                                                                                         demands change rapidly,           sparkling drinks, and edible
                                                                                         with the current emphasis         seeds. What will they de-
                                                         PHOTO COURTESY OF ERIC HINMAN
                                                                                         on health and wellness; buy-      mand tomorrow?
Eric Hinman, a serial entrepreneur, kicks back from his travels around the country.      ing products locally from
His passion for wellness led him to co-launch Original Grains in downtown                sustainable operations; insist-            4CONTINUED ON PAGE 30

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8 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
Allyn Family Foundation
plans $22M mixed-use
structure at 484 S. Salina St.
BY ERIC REINHARDT I ereinhardt@cnybj.com
                                                                                                                                               RENDERING COURTESY OF THE ALLYN FAMILY FOUNDATION

SYRACUSE — The Allyn Family Foundation by September 2020, she adds. O’Connell
has purchased the 484 S. Salina St property, spoke with CNYBJ on Aug. 23.                                                      the foundation has yet to choose, she notes.
which is currently a parking lot, and plans to         The organization purchased the lot at 484                                  VIP Architectural Associates of Syracuse
build a multi-floor, mixed-use building with a S. Salina St. through the Syracuse Urban                                        will design the building. The Allyn Family
total cost of about $22 million.                   Partnership, and the purchase closed in early                               Foundation chose the firm following a re-
   The property is bordered by South Salina May. It bought the property from Molly 2                                           quest-for-proposal process.
Street on the east, West Onondaga Street on Inc. for $1.9 million. The property purchase                                          VIP is the local architect, which will
the south, and South Clinton Street on the is part of the overall project, says O’Connell.                                     work in collaboration with Minneapolis,
west. The Marriott Syracuse Downtown, the Syracuse Urban Partnership is a new non-                                             Minnesota–based Snow Kreilich Architects.
Chimes Building at 500 S. Salina St., and the profit that the Allyn Family Foundation                                             “We also have VIP as our construction
Rescue Mission are nearby landmarks.               launched as a “supporting organization of                                   manager … on this project,” says O’Connell.
   The project will include a public market/ the foundation.”                                                                     Environmental Design & Research,
food hall, mixed-income housing, and office            The Allyn Family Foundation will use its                                Landscape Architecture, Engineering, &
space for the Allyn Family Foundation and own assets to pay for the building’s construc-                                       Environmental Services, D.P.C. is also in-
other community partners.                          tion through a line of credit secured through                               volved in the project, she adds.
   “We are now in the design-development JPMorgan Chase, the foundation’s bank, ac-                                               The Allyn Family Foundation is also work-
stage,” says Meg O’Connell, executive di- cording to O’Connell.                                                                ing with ICRAVE, a New York City–based
rector of the Allyn Family Foundation. The             Once the project is finished, the organiza-                             consulting firm that advises clients on the
 91497_MH_
foundation     Corp_Ad_CNYBJ
            hopes                         T:the
                   to begin construction in  7” x 4.5”
                                                   tion willB: None the
                                                             transfer  4Cline of credit to a tradi-
spring of 2019 and have the project finished tional mortgage through a local lender that                                                                     4CONTINUED ON PAGE 28

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                                                                                                                                                        5/25/18 9:12  I 9
TCGPlayer’s new HQ to
                         transform The Galleries
BY CHARLES MCCHESNEY I news@cnybj.com
                                                                                                                               RENDERING CREDIT: QPK DESIGN

SYRACUSE — There’ll                                by a dragon statue and the entrance lobby will
                                                   have a castle theme, complete with turrets.
                                                                                                       Potter-style outfits, Hampson says.
                                                                                                          Introducing the plans before a crowd that
be dragons here.                                   The dragon’s body will sit atop a castle wall
                                                   and, according to plans, its tail will be a slide
                                                                                                       included area economic-development offi-
                                                                                                       cials, Syracuse Mayor Ben Walsh, and compa-
    TCGPlayer.com, the online company that         that will let employees make a quick trip from      ny employees, Hampson traced TCGPlayer’s
helps collectors and dealers around the world      the second floor to the first.                      roots back to his days of working, and loving
buy and trade game cards, has begun work on            “I enjoy dragons,” Hampson says.                his job, at Twilight Comic Book and Game on
its new headquarters in downtown Syracuse.             Those walking along South Warren Street         North Salina Street.
    The company has leased 44,000 square           will be able to look in at three themed rooms.         Four years ago, he reminded his listeners,
feet on two floors of The Galleries of Syracuse,   One will be themed for “Star Wars,” another         TCGPlayer was made up of only 14 people.
the entire side of the building facing South       for the “Harry Potter” stories, and the third          The company has committed to providing
Warren Street.                                     will feature a “Mario Bros.” theme.                 more than 300 new and retained jobs in the
    At an unveiling in late July, company found-       “They’re all appliques,” Hampson explains,      region in the next five years, per a release
er and CEO Chedy Hampson shared artists’           making possible for the work to be completed        from the state that come out after the an-
renderings of the renovations. He expects the      in just four months. The Harry Potter-themed        nouncement.
growing 230-employee business to move into         room will include “portraits” that are actually        The company has a record of growth that
the new space in November.                         television screens displaying moving images         drew praise from other speakers at the July
    The entrance to TCGPlayer will be topped       of TCGPlayer employees dressed in Harry             unveiling. James P. Fayle, regional director

                                                                                                                                  IMAGE CREDIT: TCG PLAYER
10 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
for Empire State Development, recounted the
company discussing growth plans then com-
ing back to modify those plans to something
bigger and then doing it again. “Well, bring it
on,” Fayle said.
    TCGPlayer’s growth has drawn support from
the state, the release noted. In 2016, $50,000 in
funding was made available to TCGplayer from
the CNY Rising Upstate Revitalization Initiative,
as well as $300,000 in performance-based
Excelsior Jobs Program tax credits.
    “Due to the company’s exponential growth,
TCGplayer is now eligible for up to $2.4 mil-
lion through the Excelsior Program and up
to $550,000 will also be provided to the com-
pany through a Central New York Regional
Council Capital Grant, tied to job creation
commitments,” the release said.
    The growth has required moves, first from
Chedy’s home where meetings used to take            the company’s growth. “Imagine the oppor-
                                                                                                                                               RENDERING CREDIT: QPK DESIGN
place, to downtown space at the State Tower         tunity to go to work every day at a place you
Building in 2015, to two floors in AXA Tower in     loved — I mean you just loved it!”                                        A rendering of the inside of the new
2016. Last year, TCGplayer moved warehouse             He had a ready example of TCGPlayer’s                          TCGPlayer building, located in the Galleries
operations to The Galleries and offices to the      unique culture. “We’re the company that went                                                in Downtown Syracuse.
Neal & Hyde Building in Armory Square.              to the [JP Morgan] Corporate
    With this fall’s move, the business will        Challenge [running race] and
once again be altogether in one building.
The state estimated the cost of renovations at
                                                    wore superhero capes.”
                                                       Hampson sees his company’s
                                                                                                        How to name your dragon
more than $3.3 million.                             expansion as a piece of a growing       The red dragon that will perch above the South Warren Street entrance to TCGPlayer.com’s
    “We’re looking five years out,” Hampson         technology corridor in the area         new headquarters doesn’t have an official name — yet (as of late July it didn’t)
said at the unveiling. To underline that, one       that he thinks can inspire young            “I call it Smaug,” says Chedy Hampson, TCGPlayer’s founder and CEO. That’s the name
of the artists’ renderings showed a news-           people in the area and even at-         of the fire-breathing antagonist in the J.R.R. Tolkien’s “The Hobbit.”
paper front page from 2023 saying the then          tract those who grew up here and            However, he says, folks at QPK Design have been calling the dragon, “Fluffy.”That’s the
1,000-employee company was named the best           moved away for opportunities in         name of three-headed dog once cared for by Rubeus Hagrid in the Harry Potter books.
place to work in New York.                          the Silicon Valley or New York              The ultimate name of the dragon may be decided by a contest, Hampson says, or he
    Providing a workplace that employees love       City or elsewhere. “We are ready        may rely on what company employees have to say. “We’ll see.”                      – CM
is one of the values that Hampson credits with      for them to return home.” – CM

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                                                                                                   REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II I 11
Syracuse’s festivals                                                                                              Annual Downtown Syracuse
                                                                                                                  Festivals/Key Events
boost downtown
                                                                                                                  (Red denotes Downtown Committee
                                                                                                                   festival/related event)

spending, lifestyle
                                                                                                                   u Crawfish Festival, Clinton Square. This year’s
                                                                                                                     11th annual event was held May 5,

                                                                                                                   u Taste of Syracuse, Clinton Square. Typically
                                                                                                                     takes place first weekend in June; most recently
BY ADAM ROMBEL I arombel@cnybj.com                                                                                   held June 1-2, 2018

                                                                                                                   u Juneteenth, Clinton Square. Held around June
SYRACUSE — Annual festivals are a big boon                 nities… the convenience, whether it’s conve-              19, Most recently took place June 15-16, 2018
to downtown Syracuse.                                      nience to your workplace or convenience to the
   Taste of Syracuse, New York State Blues                 different type of events you may enjoy or the           u Syracuse Polish Festival, Clinton Square. This
Festival, Syracuse Arts & Crafts Festival, and             restaurants and the cultural institutions.”               year’s 64th annual event was held June 22-24.
Festa Italiana Syracuse. These are but a few of                Most of the festivals in downtown Syracuse
the festivals that attract tens of thousands of vis-       are held in Clinton Square, which operates as a         u New York State Blues Festival, Clinton Square.
itors and their spending to downtown Syracuse              city park. Each of the festivals tend to have a dif-      Most recently held June 28-30, 2018
annually.                                                  ferent organizer, but the Downtown Committee
   “The festivals provide a reason to come into            helps promote them all, Treier says.                    u Northeast Jazz & Wine Festival, Clinton
downtown Syracuse, and so once they start to                   The Downtown Committee also directly op-              Square. Most recently held July 27-28, 2018
get that experience, that positive experience, un-         erates the AmeriCU Syracuse Arts & Crafts
derstand what downtown has to offer, I think it            Festival, held in in the city’s Columbus Circle         u Stage of Nations, Hanover Square on July 27-28
opens their eyes to keep coming down to enjoy              area. This past year’s event took place July
the amenities,” says Merike Treier, executive di-          27-29 and attracted an estimated 50,000 visitors        u Syracuse New Times Street Painting Festival,
rector of the Downtown Committee of Syracuse.              to Columbus Circle and surrounding streets                along Montgomery Street (300 block); Most
                                                                                  for the weekend-long,              recently held July 28, 2018
                                                                                  48th edition of the festi-
                                                                                  val, which featured 170          u AmeriCU Syracuse Arts & Crafts Festival, Held
                                                                                  artists, craftspeople, and         in and around Columbus Circle; Most recently
                                                                                  entertainers from 20               took place July 27-29, 2018
                                                                                  states. Artists came to
                                                                                  downtown Syracuse from                Note: Dates for the Northeast Jazz & Wine Festi-
                                                                                  as far away as Florida,
                                                                                                                        val, Stage of Nations, NewTimes Street Painting
                                                                                  Arizona, California, as well
                                                                                  as Ontario, Canada, the               Festival and AmeriCU Arts & Crafts Festival
                                                                                  Downtown Committee of                 always fall on the last full weekend in July. Next
                                                                                  Syracuse says.                        year’s dates are July 26-28, 2019.
                                                                                     Visitors checked out
                                                                                  ceramics, computer art,          u Syracuse Bacon Festival, in and around Clinton
                                                                                  painting, fabric and fiver,        Square. This year’s second annual event was held
                                                                                  sculpture, photography,            on Sat. Aug. 18.
                                                                                  jewelry, glass, and more.
                                                                                  The free event also fea-         u Syracuse Irish Festival, Clinton Square. Most
                                                                                  tured a variety of street          recently held Sept. 7-8, 2018
                                                               ADAM ROMBEL/ BJNN
                                                                                 performers, kids’ activi-
 Visitors check out the attractions at the 2018 AmeriCU Syracuse Arts &          ties, and traditional festival    u Syracuse Italian Festival (Festa Italiana Syra-
 Crafts Festival held in late July. The event is just one of many annual         foods and sweet treats.             cuse), Most recently held Sept. 14-16, 2018 at the
 festivals that are a big boon to downtown Syracuse.                                 Downtown Syracuse’s             corner of Montgomery & Washington Streets, in
                                                                                 festivals are also a key            front of City Hall.
   The festivals are also an enticement to the amenity to the growing employee base in the
growing downtown residential population, city as more businesses establish or move                                 u Downtown Farmers Market runs every Tues-
which has increased by more than 75 percent in their headquarters downtown. Today, 29,000                            day from 7 am to 3 pm in Clinton Square from
the last decade to 3,600. The festivals are a key people work in the city’s core district in a                       mid-June through mid-October (ends Oct. 9 this
part of the urban lifestyle.                               variety of industries, including technology, en-          year)
   “Our residents certainly enjoy the festivals. gineering, finance, accounting, law, insurance,
They love being able to walk out their door and advertising, architecture, public relations, and                   u Holidays in the City, Clinton Square. Set for
experience these festivals,” says Treier. “They marketing.                                                            Dec. 8-9 this year
love knowing what’s happening in the down-                     “We do have a number of festivals that actual-
town area and be able to bring people, you know ly start on a Friday, so it has that added benefit                 u WinterFest typically runs throughout
their friends and family, to be able to experience of not only bringing people down here on the
                                                                                                                     downtown Syracuse during the middle two
their new lifestyle. So certainly, it adds to that weekends, but also being able to cater a little bit
vibrancy that the residents feel.”                         more to the downtown employee crowd,” Treier              weeks of February; dates are set for Feb. 14-24
   She continues, “When you’re looking to live says. “Most of the festivals that start on Friday                     in 2019.
in downtown, you’re looking for that level of target the lunch hour and they love that dining
vibrancy, that kind of quality of life, and ame- type of experience there.” 		                            – AR    Source: Downtown Committee of Syracuse and
                                                                                                                  event websites
12 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
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                                                            REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II I 13

revitalize II pub.indd 13                                                                                       8/28/18 6:25 PM
Crews continue work on
Whitney Lofts project
on South Salina Street                                                                                                                     ERIC REINHARDT / BJNN
BY ERIC REINHARDT I ereinhardt@cnybj.com                                                            The exterior of the properties at 321 S. Salina St. and
                                                                                                    323 S. Salina St. in Syracuse, as seen on Aug. 24.
SYRACUSE — Work is progressing on the             ect $75,000 in funding from its participa-        323 S. Salina St., as both were for sale.
project to turn the buildings at 321 S. Salina    tion in New York’s Main Street program.              Case and Benz felt the 323 S. Salina St.
St. and 323 S. Salina St. in Syracuse into the    The Central New York Regional Economic            building was important because it had two
Whitney Lofts, a $4.4 million, mixed-use          Development Corporation recommended               staircases, which they would need for a sec-
development.                                      the projects for $320,000 in state funding,       ond exit at the structure if they were going
   It will have 16 apartments on the upper        according to Benz.                                to include residential units on the top floor.
floors, as well as a restaurant, juice bar, and
speakeasy on the ground floor.                      A rendering of the $4.4 million Whit-
   The renovation work started in the               ney Lofts mixed-use development
spring and the interior construction kicked         project along South Salina
off in June, says Ryan Benz, project devel-         Street in Syracuse.
oper and licensed real-estate salesperson
with Acropolis Development.
   “We’re expecting to open up by the end
of this year, so it’s a very aggressive time
schedule,” he adds.
   Benz is among four partners on the
project. The additional developers include

                                                                                                                                                           RENDERING CREDIT: WHITNEY LOFTS WEBSITE
Steve Case, project developer and bro-
ker/owner of Acropolis Development in
Syracuse; Benz’s wife, Leigh Ann Boatman-
Benz; and Shashank Bhatt.
   The project takes its name from the
Whitney Department Store which once
operated in 321 S. Salina St., the developers
say.
   Crews have installed demising walls
and handled electrical and plumbing work.
They’re also handling sheet rock work in
the buildings’ upper floors as they prepare
apartment units. A vendor is also installing
a new elevator.                                                                                        “It made more sense to buy both build-
   Rich & Gardner Construction Company            Project origin                                    ings, make it a bigger project,” says Case,
of Syracuse is the contractor on the project,        Case and Benz met while students at            noting they started looking at the buildings
while Dalpos Architects & Integrators, also       Syracuse University’s Martin J. Whitman           in January 2017.
of Syracuse, is the designer.                     School of Management late last decade.               Gary Ritch owned 321 S. Salina St., says
   We’re looking to lease up mid-Decem-           Benz later moved to New York City, and            Case. Chao Lin previously owned 323 S.
ber, maybe January 1st,” says Benz. “The          Case started working for Paramount Realty         Salina St., according to the property record
exterior [work] is scheduled to start in          Group, LLC in Syracuse before starting            on the website for the Onondaga County
September, so that work will be running           Acropolis Development about three years           Office of Real Property Tax Services. That
[through] September and October.”                 ago.                                              property was previously home to a Chinese
   Community Development Corporation                 Benz contacted Case and told him he            restaurant, Case adds.
provided a $3.5 million loan, representing        wanted to move back to Syracuse and noted            The entity 321 S. Salina St., LLC owns
the majority of the funding. “They covered        he was interested in some local buildings,        the buildings now, including the principals
the bulk of the project working on both the       including the ones in the Whitney Lofts           Case, Benz, and Bhatt.
mortgage and the construction loan for the        project. Case was also familiar with the             Case describes Bhatt as a “silent inves-
project,” says Benz.                              buildings.                                        tor” in the project. Case knew Bhatt from
   The financial package also included his-          Then, after a series of text messages,         when Bhatt purchased the Hogan Block
torical tax credits. Pathfinder Bank provid-      Benz and Case say they decided that work-         building where Acropolis currently oper-
ed a bridge loan for the project’s historic tax   ing together would be a good idea.                ates.
credits, according to Benz, who declined to          “That’s when we started forming our
disclose the amount of that loan.                 partnership,” says Case, noting they even-
   The City of Syracuse awarded the proj-         tually looked at 321 S. Salina St. and later at                              4CONTINUED ON PAGE 28
14 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
By investing in
  the community,
curiosity is renewed.

 We’re a proud sponsor of “Powering
Our Future,” an exhibit at the Syracuse
 Museum of Science and Technology
 about renewable energy. It’s just one
of many ways we encourage children
 to take an interest in STEM: science,
  technology, engineering, and math.
Armory Square–
based Beerboard
plans to double
in next year

BY CATHERINE LEFFERT I Contributing Writer I news@cnybj.com                                         Mark Young, CEO and
                                                                                                    founder of Beerboard.
                                                                                                                       PHOTO CREDIT: BEERBOARD

SYRACUSE —Beerboard, a Syracuse–              track the performance of their draft           these major operators and groups and
                                              beer business. It also provides services       bars.”
based international provider of               to brewers to allow them to “control              The office in downtown Syracuse is
technology to monitor draft-beer              the messaging and information of their         more than 6,000 square feet, Young says
flow and improve inventory man-               brands and beers and have a direct             and employs about 20 full-time workers.
                                              connection to consumers through the            The company also has remote employ-
agement, has plans to double its              BeerBoard platform.”                           ees in Hoboken, New Jersey; Denver,
revenue over the next 12 months.                  Based in Armory Square, at 225 W.          Colorado; and Minneapolis, Minnesota.
                                              Jefferson St., the company started 13             He says the company intends to double
   Mark Young, CEO and founder of             years ago with no revenue, and has now         by next year by continuing to improve
Beerboard, says the company has grown         grown to serving more than 2,500 bars          marketing and technology.
more than 50 percent every year since its     and restaurants in the U.S. and Canada.           “We continue to make the platform
founding in 2005 as US Beverage Net. He       It’s adding about 30 more establishments       more and more robust with more value to
says he rebranded it to Beerboard in April    every month, Young tells CNYBJ. He says        the customers.”
2016 as the firm broadened its services.      Beerboard typically charges locations a           Young says he is based in Syracuse
   Beerboard uses technology that can         monthly fee of about $150 to $200 per          because it’s where he’s originally from
monitor draft-beer flow to help control       month for its services. He declined to         and started his business in Armory
inventory levels and detect waste and         disclose his company’s annual revenue          Square. He also adds that most work
theft at bars, restaurants, and other es-     totals.                                        for Beerboard can be done remotely,
tablishments selling the suds. It employs         Beerboard serves major national restau-    because while it provides the technology
third-party, independent installers so the    rant chains such as Buffalo Wild Wings         and the platform to use the technology,
company can reach                                                    and Hooters, as         independent contractors install the equip-
any restaurant in the                                                well as local restau-   ment at the bars and restaurants to moni-
country, and some                                                    rants and bars, like    tor the draft-beer flow.
in Canada, Young                                                     Coppertop Tavern           Beerboard is one of the entrepreneur-
says.                                                                and Tully’s Good        ial businesses that has helped contribute
   “It was created for                                               Times. BeerBoard        to recent growth in downtown Syracuse
inventory management and supply chain,        monitors more than 50,000 draft lines and      and that has helped generate employ-
it now it controls inventory,” Young says.    35,000 products.                               ment opportunities.
“We put a heavy focus on retailers cutting        “We started from zero revenue,” Young          “I’m not familiar with all the companies
waste and theft.”                             says. “So we had no locations and we           [in the area], but I’m familiar with a few
   Through real-time data, compiled by        added some. We added local companies           and I think what you’re seeing is really
its patented platform, BeerBoard says         initially, then we added some regional         new, innovative products really create
it helps bar and restaurant operators         accounts, and now it’s grown to some of        new jobs for the area,” Young says.      –CL

16 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
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Norwich–based NBT Bank is now operating its downtown Syracuse branch at 126 N. Salina St., having moved to the new                           ERIC REINHARDT / BJNN
location from 300 South State St. in April. A branch of First Niagara Bank previously operated at the North Salina Street site.

NBT Bank moves
                                                                                                               Ohio–based KeyBank (NYSE: KEY) closed
                                                                                                               after its acquisition of First Niagara Financial
                                                                                                               Group (NASDAQ: FNFG), which was head-
                                                                                                               quartered in Buffalo.

downtown branch
                                                                                                                  The new location offers “enhanced ser-
                                                                                                               vices and parking,” NBT Bank said.
                                                                                                                  “We wanted to take advantage of this op-
                                                                                                               portunity to serve our customers and the
                                                                                                               community from a more modern and conve-

to new location
                                                                                                               nient banking facility,” Rick Shirtz, regional
                                                                                                               president of NBT Bank, said in a release. “We
                                                                                                               have completely renovated our new space
                                                                                                               and are now able to offer our downtown
                                                                                                               customers a better experience through an
BY ERIC REINHARDT I ereinhardt@cnybj.com                                                                       easy-deposit ATM, two drive-up lanes and off-
                                                                                                               street parking.”
                                                                                                                  NBT Bank offers personal banking, busi-
SYRACUSE — NBT Bank has moved its                      Salina Street location on April 30 after re-            ness banking and wealth-management ser-
downtown branch to 126 N. Salina St., having           locating from its previous branch at 300                vices. Its network of more than 150 branches
formally opened the Clinton Square office              South State St. in Syracuse. A branch of First          spans six states — New York, Pennsylvania,
branch on June 13.                                     Niagara Bank previously operated in that                Vermont, Massachusetts, New Hampshire,
   It’s now operating in the building known            location.                                               and Maine.
for the mural of Clinton Square and sur-                  That First Niagara office combined with                 The bank and its parent company, NBT
rounding area on the structure’s north-facing          the KeyBank branch at 201 S. Warren St. in              Bancorp (NASDAQ: NBTB), are headquar-
façade.                                                Syracuse, a few blocks away. It was among 18            tered in Norwich. NBT Bancorp had assets
   NBT Bank started operations at the North            Central New York branches that Cleveland,               of $9.5 billion as of June 30. 		           –ER

18 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
Nascentia Health
  A Proud Member of the Downtown Syracuse Community

Nascentia Health, Central New York’s premier home healthcare system, is
proud to participate in the revitalization of Downtown Syracuse through the
completion of our new, state-of-the-art operational headquarters at 1050
West Genesee Street. As we build upon our 128-year legacy of service to the
community, we look forward to new opportunities for innovation and growth.

            1050 West Genesee Street, Syracuse, NY 13204
               888.477.HOME • nascentiahealth.org
                                        REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II   I 19
The YMCA will use a “phasing plan” that
                                                                                                               won’t dislocate any residents during construc-
                                                                                                               tion, she adds.
                                                                                                                  Hueber-Breuer Construction Co. Inc. will
                                                                                                               handle the work on the residential part of
                                                                                                               the project, and Irish-Millar Construction of
                                                                                                               Syracuse will complete the non-residential por-
                                                                                                               tion of the project. Syracuse architect William
                                                                                                               Walton is providing the design work on the
                                                                                                               project.

                                                                                                               Project purpose
                                                                                                                  The downtown YMCA branch is more than
                                                                                                               a century old, an “aging” facility, as Pusztai
                                                                                                               describes it.
                                                                                                                  “It’s really our [desire] to be able to provide
                                                                                                               better service and do what we do better and
                                                                                                               provide a good recreational space and a sense
                                                                                                               of community and then also to improve the
                                                                                                               quality of life of our residential component
                                                                                                               and improve the living environment for our
                                                                                                               residents,” she says.
                                                                                       ERIC REINHARDT / BJNN
                                                                                                                  The organization has discussed the project,
The YMCA of Greater Syracuse plans to add nine rooms to its 99-room men’s residence in a project that
                                                                                                               particularly the residential component, “for
totals $7 million. The work will begin in September. The non-residential part of the project started in
                                                                                                               several years” because of the planning involved
May, targeting building infrastructure and recreation space at 340 Montgomery St. in Syracuse.                 and pursuit of funding.
                                                                                                                  The New York State Office of Temporary

YMCA of Greater Syracuse
                                                                                                               and Disability Assistance (OTDA) awarded
                                                                                                               a grant of $4.1 million for the project, which
                                                                                                               comes from OTDA’s homeless and housing-as-
                                                                                                               sistance program, according to Pusztai.

downtown renovations
                                                                                                                  The Federal Home Loan Bank of New York
                                                                                                               (FHLBNY) also awarded a grant of $1.8 mil-
                                                                                                               lion. NBT Bank is the YMCA’s local sponsor
                                                                                                               and a member of the FHLBNY and through its

include men’s residence
                                                                                                               support and advocacy, the YMCA was able to
                                                                                                               secure the funding.
                                                                                                                  In addition, the City of Syracuse’s
                                                                                                               Department of Neighborhood and Community
                                                                                                               Development provided a grant of more than
BY ERIC REINHARDT I ereinhardt@cnybj.com                                                                       $383,000, the Central New York Community
                                                                                                               Foundation, Inc. contributed $150,000, and the
                                                                                                               Gifford Foundation awarded a grant of $25,000
                                                                                                               for the renovation effort.
SYRACUSE — The YMCA of Greater Syracuse plans to renovate                                                         The YMCA secured the OTDA grant in
its 99-room men’s residence, adding nine units in the down-                                                    early 2017, which triggered the pre-develop-
                                                                                                               ment process involving permits and designs
town location in a project that totals $7 million.                                                             for a “substantial” renovation project.
                                                                                                                  “That really was the catalyst to then real-
                                                                                                               ize that we secured the largest chunk of the
    The effort also includes a “non-residential”      started in May. The work on the men’s resi-              money, but we needed more and we secured it
component that involves work on the building’s        dence will begin in September. Construction              through other funding sources,” Pusztai says.
infrastructure and its recreational space, says       crews should finish their work by October
Cheryl Pusztai, district VP – city district of the    2019, Pusztai said.                                      Men’s residence history
YMCA of Greater Syracuse.                                Crews will build nine new rooms on the                   The YMCA’s men’s residence dates back to
    “It does include new windows [for] the facil-     roof of the building’s fifth floor, adding to the        the 1930s and was established initially for men
ity, a new boiler, some new lighting upgrades,        building’s sixth floor. That construction will           returning from military service and needing a
as well as some work on our gymnasium floors,         take the total number of units from 99 to 108            place to stay.
which directly impacts our recreational space,”       single-occupancy rooms.                                     In the 1950s, the facility would accommo-
says Pusztai. She spoke with BJNN on Aug. 15.            Crews are painting, adding flooring to ad-            date business travelers.
    The downtown YMCA branch is located at            dress “cosmetics,” and working to improve                   “It was very much like a hotel would be in
340 Montgomery St. in Syracuse.                       ventilation. They’re also adding new windows,            downtown Syracuse at that time,” according
    Pusztai noted that even though the renova-        a new boiler, and community space on each                to Pustzai.
tions will “substantially improve the quality of      floor.                                                      In the 1970s, the YMCA recognized a need
some components” of the downtown location,               The facility currently has 99 single-occupan-         to address homelessness and provide “sup-
the YMCA “continues to seek avenues to ad-            cy rooms. “Normally we are about 95 percent              portive” housing for men dealing with a transi-
dress other facility needs to ensure program          occupied on a typical month during the year              tion in their life.
quality.”                                             … There’s never not a need for our service,”                “That’s really when our current model evolved
    The non-residential part of the project           says Pusztai.                                            into what we are today,” she explains.      – ER

20 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
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                                                        REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II I 21
U.S. Senator Kirsten Gillibrand (D–N.Y.) on Aug. 3
                                                                     addressed a gathering at the Marriott Syracuse
                                                                     Downtown, the former Hotel Syracuse, which
                                                                     re-opened to the public in August 2016 following
                                                                     massive renovations. She discussed the U.S. Senate’s
                                                                     effort to preserve the federal Historic Preservation
                                                                     Fund in the 2019 federal budget. Hotel owner Ed Ri-
                                                                     ley said the renovation wouldn’t have been possible
                                                                     without historic tax credits.

                                                                                                                               ERIC REINHARDT / BJNN

Gillibrand
                                                 SYRACUSE — The owner of the Marriott              ing amount is $56.2 million higher than
                                                 Syracuse Downtown, the former Hotel               President Trump’s budget request for the
                                                 Syracuse, stresses that the project               program. The funding supports historic
                                                 wouldn’t have been possible without the           preservation and economic-development

discusses                                        involvement of historic tax credits.
                                                    “This project was keystoned by the
                                                 state grants that were available that were
                                                 earmarked for this, and, again, with the
                                                                                                   projects around the state, including the
                                                                                                   Marriott Syracuse Downtown.
                                                                                                      The former Hotel Syracuse property
                                                                                                   was vacant for more than a decade but

historic                                         combination on the historic tax credits.
                                                 Without that, you wouldn’t be in this
                                                 building today,” Ed Riley said in response
                                                                                                   was renovated and reopened with the help
                                                                                                   of $14 million in federal historic tax-credit
                                                                                                   investments to help pay for more than

preservation
                                                 to a reporter’s question at an Aug. 3 event       $70.3 million in project costs.
                                                 at the hotel with U.S. Senator Kirsten               “It’s called the historic-preservation
                                                 Gillibrand (D–N.Y.).                              fund, and what it does is helps projects
                                                    Riley is the managing member of the            like this receive more money through

in Syracuse
                                                 entity Hotel Syracuse Restoration that led        federal historic tax credits and through
                                                 the drive to restore the hotel and reopen it      grants … this building is a particularly
                                                 in August 2016.                                   good example because it got $14 million
                                                    “For more than a decade, the hotel just        through the tax credit,” Gillibrand noted

stop                                             sat empty. It wasn’t being used. It wasn’t
                                                 being revitalized. It wasn’t this center of
                                                 great economic opportunity for our city,”
                                                                                                   in her remarks.

                                                                                                   Additional Syracuse projects
                                                 Gillibrand said in her remarks at the                The Democrat’s office also noted other
                                                 gathering.                                        local projects that have benefitted from the
                                                    She visited the Syracuse landmark to           tax credit.
                                                 announce “her successful push” to in-                They included $400,000 in federal his-
BY ERIC REINHARDT                                clude nearly $89 million in the fiscal year       toric tax-credit investment to help pay
                                                 2019 Senate interior appropriations bill          for $2 million in project costs to reno-
ereinhardt@cnybj.com                             for the U.S. Department of Interior’s his-        vate the historic Courier Building at 110
                                                 toric-preservation fund, the Democrat’s           Montgomery St. in Syracuse, which fea-
                                                 office said in a news release.                    tures space for restaurants and apart-
                                                    Gillibrand’s office noted that the fund-       ments.

22 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
More than $1.6 million in federal his-
toric tax credits helped pay for more than
$8.1 million in project costs to turn the
former West Brothers Knitting Company
factory at 700-710 Emerson Ave. into afford-
able housing.
    Additionally, $558,000 in federal historic
tax credits helped pay for $2.79 million in
project costs to convert Syracuse’s historic
Odd Fellows Lodge and Temple into afford-
able housing.
    “Historic preservation … it’s an econom-
ic-development tool,” Syracuse Mayor Ben
Walsh said in his opening remarks during
Gillibrand’s appearance on Aug. 3. “What
makes communities like Syracuse unique
and authentic is our historic building stock.”
    In the federal historic tax credits and the
historic-preservation fund, Syracuse has “ex-
tremely valuable tools” to help us restore that
building stock and help it leverage the “revi-
talization of our urban cores,” Walsh added.                                                                                        ERIC REINHARDT / BJNN
    Federal funding for historic districts and    The Marriott Syracuse Downtown, the former Hotel Syracuse, reopened more than two years ago after
investment in historic sites “encourages          an extensive renovation effort.
and supports economic development that is
critically important to the preservation and
revitalization of communities throughout          Gillibrand’s release. SHPOs have an annual         programs required by federal statute. These
New York,” according to Gillibrand’s office.      funding agreement with the National Park           programs include historic resource survey
                                                  Service that requires a non-federal match-         work, the National Register of Historic Places
About the law                                     ing share equal to at least 40 percent of the      program administration, compliance review
   The National Historic Preservation             federal allocation.                                of federally funded and permitted projects,
Act of 1966 requires all states to have a            After 10 percent of the federal share is re-    federal historic tax-credit program imple-
State Historic Preservation Office (SHPO)         served for grants to participating communi-        mentation, and the certified local-govern-
to preserve historic sites in the U.S., per       ties, funding is allocated for administration of   ment program.        		                   – ER

  NEXT-Revitalize Syracuse-7x4.5.indd 3                                                                                               8/22/18 8:58 AM
                                                                                       REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II I 23
Downtown Committee’s
                                                                                                                     bring new density,” she said.
                                                                                                                         A $950,000 renovation is underway at
                                                                                                                     205 East Jefferson St., which will add six
                                                                                                                     apartments and a new restaurant, which

Treier highlights project
                                                                                                                     Treier described as a “long-vacant structure
                                                                                                                     near Columbus Circle” that “will see new
                                                                                                                     life soon.”

                                                                                                                     Armory Square
activity during annual-                                                                                                 Treier’s remarks also acknowledged
                                                                                                                     some housing projects in Armory Square.
                                                                                                                        Mike Wicker has activated the Tallman

meeting remarks
                                                                                                                     Block on West Fayette Street, she said. A
                                                                                                                     $3.2 million investment resulted in 16 new
                                                                                                                     apartments and a “shared sense of commu-
                                                                                                                     nity through a unique courtyard space,” said
                                                                                                                     Treier.
                                                                                                                        Next door, the Seneca Building will un-
BY ERIC REINHARDT I ereinhardt@cnybj.com
                                                                                                                     dergo a $3.5 million renovation. The struc-
                                                                                                                     ture will have 18 new residential units that
SYRACUSE — More than $360 million of in-         apartments “will bring density to Hanover                           will be ready for occupancy in 2019.
vestment activity is underway or announced       Square,” Treier said in her remarks.                                   In addition, developer Robb Bidwell will
in Syracuse’s downtown area.                        In addition, developer Luke Esposito’s                           start construction this fall at 415 South
   That’s according to Merike Treier, exec-      Lofts at 239 is a $650,000 investment. It                           Clinton St. on a $3 million project that will
utive director of the Downtown Committee         includes two units and a new bagel shop                             create 16 residential units, including a
of Syracuse, Inc., who noted several of the      planned for the ground floor, which was “ex-                        four-bedroom penthouse, and a ground-level
                                                                                                                     lounge space.

                                                             Merike Treier, executive
                                                                                                                     South Salina Street
                                                                                                                         In addition, developers Steve Case and
                                                             director of the Downtown                                Ryan Benz are focusing on two vacant struc-
                                                             Committee of Syracuse,                                  tures in the middle of the 300 block of S.
                                                             Inc., delivers her “State of                            Salina St. The $4.4 million investment in the
                                                             Downtown” report during the                             Whitney Lofts project will create 16 residen-
                                                             organization’s annual meeting                           tial units, a ground floor restaurant space,
                                                             held June 21 at the Marriott                            and an underground speakeasy.
                                                             Syracuse Downtown.                                          Owners Derek Persse, Rich DeVito, and
                                                                                                                     Dave Schlosser in May held a ribbon-cutting
                                                                                                                     event after completing an $11 million project
                                                                                                                     at the Empire at 472 S. Salina St. It includes
                                                                                                                     51 “upscale” apartments that now overlook
                                                                                                                     both South Salina and South Clinton Streets.
                                                                                                                         Construction work is also underway next
                                                                                                                     door at 476 South Salina St., Treier said in
                                                                                                                     her remarks. Developers Tom and Ryan
                                                                                                                     Goodfellow are focused on a $2.7 million in-
                                                                                                                     vestment that will bring 24 residential units
                                                                                                                     and commercial space to attract new tenants.
                                                                                                                         The Allyn Family Foundation has ac-
                                                                                                                     quired the parking lot at 484 South Salina St.
                                                                                             ERIC REINHARDT / BJNN

                                                                                                                     and has a $20 million plan to construct a new,
                                                                                                                     seven-story building.
                                                                                                                         Abe Einhorn continues work at the
                                                                                                                     Chimes building with a $15 million plan
                                                                                                                     to build 90 additional apartments, upgrade
                                                                                                                     the commercial spaces, and restore this
projects during her remarks at the orga-         pected to open by the end of the summer.”                           property’s position as an iconic landmark,
nization’s June 21 annual meeting at the            Just outside Hanover Square, construc-                           Treier said.
Marriott Syracuse Downtown, the former           tion activity at the former NYNEX telephone                             Across the street, an investment of
Hotel Syracuse.                                  hub continues. Scheduled for an early 2020                          $26 million will introduce upstate New York’s
   Treier’s remarks included a focus on          completion, this $43 million development                            first Hyatt House. Construction on the 120-
residential projects that are either completed   will result in 180 residential units and new                        room extended-stay hotel begins soon and
or in progress in the downtown area. They        commercial space, Treier said.                                      will result in 52 permanent jobs.
include “the 61 top-of-the-line apartments          Treier also noted VIP Structures’ work in                            Next door, the development team of Steve
and fresh commercial space at State Tower,”      the former Post-Standard building to make                           Case, Tim Lynn and Joe Gehm have a
she said.                                        the structure its new headquarters. “Three                          $6.2 million investment at the former Addis
   A $2.4 million investment is adding to        new stories will be added, offering 50 res-                         Department Store. The project has 18 apart-
the nearby Grange building’s “residential        idential units with balconies overlooking                           ments, office space, and street-level retail
success.” When construction at GrangeX           Clinton Square. Ten of those units will be                          businesses that will be part of this property
is complete, two new stories and nine            affordable, and fresh commercial space will                         “later this year,” Treier said.            – ER

24 I REVITALIZE SYRACUSE: THE DOWNTOWN TRANSFORMATION II
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