UTICA, N.Y. — The City of Utica’s Urban Renewal Agency (URA) approved an application from Michael Pezzolanella to purchase the former home of Northland Communications at 315-317 Court St. in downtown Utica for $400,000.
The property encompasses a 40,000-square-foot, four-story building, as well as six parking spaces, the office of Utica Mayor Robert Palmieri said.
The final sale is contingent on approval by the Common Council.
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“Mike Pezzolanella has a strong track record in redeveloping vacant properties, attracting businesses and creating jobs. I thank him for investing in our community,” Palmieri said.
Since taking ownership of the property, URA’s maintained it at a “continual and substantive” cost. Selling the building to a private developer eliminates maintenance costs, increases revenue, and expands the city’s tax base, Palmieri’s office said.
The proposal includes building renovations for office space on the ground floor and about 24 upscale apartments on the upper floors. A “major factor” in URA’s decision was the applicant’s ownership of properties adjacent to 315-317 Court St. They include the bordering parking lot which will accommodate the parking needs of the proposed project.
“We are so excited about the acquisition of this new property and to help contribute to Utica’s continued revitalization,” Pezzolanella said.
