SYRACUSE, N.Y. (NCC News) — A nearly 200-year-old Historic building now has a new owner. New York Developer Gavin Maloney plans to bring the vacant building back to life with apartments while keeping its historic connection to the past.
The Granite Building was built in 1822 and is one of the oldest buildings in Syracuse, three years before the city was incorporated.
The building is in Hanover Square, the earliest downtown center since the first section of the revolutionary Erie Canal was completed in 1820. Hanover Square was the site for meetings, political speeches, and reform in the 19th century, including the abolitionist and women’s rights movements.
The original owner of the building was John M. Clark, a pioneer photographer. Clark made the building a photography studio documented as the oldest photographic gallery in the city and one of the oldest in the country. Many artists occupied the studio through the post-civil war including, George Barnard, who is known to be the man who invents photo-journalism.
According to the Onondaga Historical Association, for the last 100 years, this building has housed Koolakian’s menswear shop until New York Developer Gavin Maloney purchased the vacant building from the Koolakian family with plans to renovate the building into apartments.
Maloney specializes in the restoration of buildings from the 19th century, and it gives him greater reward honoring the original work of the building.
“If I were to just slap a few coats of paint on this building and just update the mechanical, it wouldn’t be the same thing for me, I wouldn’t enjoy it,” Maloney said.
Developers like Maloney have passion for projects like this, but they also get a tax break. In the state of New York, the Historic Homeowner Tax Credit Program will cover nearly 20% of the costs to restore historic buildings, which can be a credit of up to $50,000.
To qualify for the Historic Homeowner Tax Credit:
- You must own and reside in the historic home in New York State in the year for which you claim the credit.
- Costs for the project must be $5,000 or more.
- You must receive preliminary approval and a Certificate of Completion from the New York State Office of Parks, Recreation, and Historic Preservation.
The tax credit makes it possible for Maloney, but his artistic journey through the process makes the experience.
According to Historian Robert Searing, there was a lack of appreciation for historic buildings during the late sixties and seventies and a shift towards wanting new and modern design. The consequences of that left a lot of landmark structures destroyed and many people displaced.
Searing says, “by saving these structures, you save the history, and you save the story.”
Searing believes the restoration of the Granite building will renew the vitality of Syracuse, and owners like Gavin Maloney will inspire others to do the same and invest in the rich history of Syracuse.