SYRACUSE — The future of downtown’s city center is “strong,” with a 50 percent increase in inquiries this past winter from businesses interested in moving to the district compared to a year ago. That’s according to the State of Downtown report that Merike Treier, executive director of the Downtown Committee of Syracuse Inc., delivered during […]
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SYRACUSE — The future of downtown’s city center is “strong,” with a 50 percent increase in inquiries this past winter from businesses interested in moving to the district compared to a year ago.
That’s according to the State of Downtown report that Merike Treier, executive director of the Downtown Committee of Syracuse Inc., delivered during the organization’s annual meeting on June 21.
The downtown area is home to more than 240 places to dine, shop, and pamper, with 88 restaurants, 52 retail stores, and more than 100 salons and personal-service businesses, per the report. It had more than $180 million of investment in the last year.
The Downtown Committee also anticipates $26 million more in investment to occur before the end of the 2023 calendar year.
Downtown housing
Downtown’s residential population is 4,400 people “and climbing,” according to the report. It has more than 2,800 apartments and condos, with another 120 additional apartments under construction this year. The figures equate to 4 percent growth in housing, “just this year alone.”
Work continues at the Mizpah Towers where Tom Cerio will create new apartments, along with commercial and retail space through a $6.7 million investment.
In downtown’s southern district, construction is underway as the Hayner Hoyt Corporation works on turning the former annex of the Hotel Syracuse into Symphony Place. This $17.4 million redevelopment will result in two floors of commercial space and 75 apartments.
The area will also have additional revitalization due to the “vision and partnership” of Onondaga County and the City of Syracuse, per the State of Downtown report.
Across from the Centro bus hub, the former Central Tech High School will soon be under construction with a planned 2025 opening date. Through the “vision and collaboration” of Onondaga County, the City of Syracuse, and the Syracuse City School District, it’ll become the region’s first ever STEAM high school (STEAM is short for science, technology, engineering, arts, and mathematics).
To the southwest, projects will activate key business corridors with $10 million in Downtown Revitalization Initiative (DRI) funding and a $1.25 million commitment from Onondaga County Executive Ryan McMahon for West Onondaga Street.
In addition, the conversion of South Clinton Street to a new two-way traffic pattern between West Jefferson Street and Taylor Street “improves connectivity and creates a safer experience” for pedestrians and cyclists, per the report.
In Hanover Square, more than $30 million of investment targeting vacant upper floors has resulted in space for new residents.
Hanover Real Estate Development has converted the upper floors of
246 East Water St. into two apartments and is improving two retail spaces on the ground floor.
At the same time, Gavin Maloney is completing a renovation of the Granite Building at 132 E. Genesee St. in Syracuse. Vacant upper floors will become market-rate housing and the building’s canal-era façade will be restored for a new retail space.
Douglas Development Corp. has completed 119 new residences in Hanover Square through a $23 million investment into the former M&T Bank building. Now called the Treasury, the structure also offers unique event space, with more than 500 onsite public parking spaces to support demand in Hanover and Clinton Squares.
The City of Syracuse also relocated its operations from City Hall Commons to One Park Place as part of Mayor Ben Walsh’s strategy to improve access for constituents to several city departments. Walsh’s office on Aug. 28 announced the move was complete.
The move creates the “opportunity to expand” housing options downtown. Hanover Real Estate Development plans to convert City Hall Commons into a mix of residential and commercial uses, “bringing density to Hanover Square,” per the report.
In Armory Square, a new six-story mixed-use building is planned to transform the existing Armory Parking Garage into THE CLINTON at Armory Square. Developed by Tony Fiorito, John Funiciello, and Andrew Larew, this $18 million investment will bring new vibrancy to the neighborhood and is scheduled to begin construction in the first quarter of 2024, the Downtown Committee says. A 100-car parking garage on the lower levels, with residential and commercial space above, will “energize” a key downtown location. An open courtyard on the second level will overlook Clinton and Walton Streets.
One block away, Jeff Appel is converting the 128-year-old Bentley Settle Building into 30 residential units. A new restaurant, The Whiskey Coop, was also slated to open soon in the lower level.
Following its completion of the Treasury project, Douglas Development has purchased two buildings fronting Fayette Firefighters Memorial Park, with plans for a new mixed-use development.
Downtown-office employers
Several large-scale commercial development projects are underway with downtown Syracuse welcoming seven new Class A office headquarters this year, with another two headquarters also coming.
At Clinton Square, VIP Structures completed its $32 million renovation of The Post, adding employer density and new headquarters locations for Chase Design and VIP. NBT Bank also announced it will move its Central New York regional headquarters to the building.
At Columbus Circle, the Carnegie building has entered a new phase. The neighborhood has been revitalized with the move of the county’s economic development, community development, and planning offices, along with CNY Arts, into the property, thanks to a $4 million renovation by Onondaga County.
In addition, FustCharles relocated to the Merchants Commons on South Warren Street earlier this spring.
Two blocks away, Hayner Hoyt’s $37 million conversion of the former Sibley’s Department Store into “City Center” has “transformed the feel” of South Salina Street, the Downtown Committee said.
The building’s roster includes office headquarters for the Hayner Hoyt Corporation, Huntington Ingalls Industries, CXtec, and Impel.
Work has also started on an expansion to the Tech Garden as CenterState CEO adds a two-story addition, more than doubling the incubator’s space. The additional 46,000 square feet will create a “new and improved campus to reimagine who is served and how and drive more equity and inclusivity through programs offered,” the organization said.
New businesses
This last year, the Downtown Committee welcomed 29 new ground-floor businesses to downtown Syracuse, with eight more expected to open before the end of 2023.
Of these 29 new downtown businesses, 41 percent are owned by entrepreneurs of color and 48 percent are owned by women.
In June, vintage-clothing store Black Citizens Brigade formally opened at 140 Bank Alley. Downtown’s newest businesses also include Flynnstoned, Syracuse’s first licensed cannabis dispensary, which formally opened on Walton Street in June.
