Downtown Syracuse Receives Over $200 Million in Investments Downtown Syracuse Receives Over $200 Million in Investments

Money is being used to build new apartments and businesses

Over two-hundred million dollars is being invested into Downtown Syracuse.

Our reporter Fernando Garcia-Franceschini is live from Armory Square to tell us where that money is going.

“Syracuse’s best days are ahead of us”, that’s what Mayor Ben Walsh likes to say and it’s was the Downtown Committee of Syracuse is embracing now.
At the Committee’s Annual Meeting it was announced that with the money you mentioned Ashtyn, Downtown Syracuse has seen 20 new businesses and more than one hundred new apartments will be available soon.
Most of that money has gone into either repairing old buildings that weren’t in use anymore or expanding some other ones, like Piper Phillips Building in Armory Square, Washington Place, and even St. Paul’s Cathedral.
Aside from that, Deputy Mayor Sharon Owens hints at the possibility of something else coming to the area thanks to the investors.

Deputy Mayor Sharon Owens:
It is a thriving neighborhood where people work, live and play and we’ll soon begin to learn hopefully.

So even education might make it’s way Downtown. It was also brought up that they will make a new park just in front of Original Grain in South Salina Street and Scholars Champs was brought to the area because people wanted the first sports aparell store in the area.

By Fernando Garcia-Franceschini, Syracuse, N.Y. (NCC News) – The Downtown Committee of Syracuse announced today where the $234 million in investments for the downtown area are going.

During the annual meeting, held at the Syracuse Oncenter, the committee revealed that over 100 apartments are being constructed right now and 20 businesses have opened in the area thanks to the money provided by investors.

“Downtown is alive and well and it will continue to grow tremendously,” said Deputy Mayor of Syracuse Sharon Owens, representating Mayor Ben Walsh.

Some of the bigger projects include the expansion of the Piper Phillips Building, the Washington Place, and St. Paul’s Cathedral. All are being expanded to host more apartment units.

The committee also announced partnerships that are helping out with the revitalization of Downtown Syracuse, like PathFinder Bank and OpenHand Theater. PathFinder helped finance new apartments and three new restaurants, while OpenHand is helping create the first ever Redhouse Summer Camp.

“We are beyond grateful to everyone who takes the time and who donates the resources to help us out in giving downtown new life,” said Communications Director Alice Maggiore. “We could not do this all by ourselves.”

The Downtown Committee took the opportunity to officially endorse the community grid as what it believes to be the best alternative moving forward in regards to the future of I-81.

“We are emphasizing connections a lot, not just in our partnerships but in the community grid as well,” said Executive Director Merike Treier. “We believe that it will help bring people together and also give new meaning to spaces that are currently useless.”

Treier mentioned how she hopes the empty buildings and parking lots around I-81 will be transformed once the community grid is officialized as the best option.

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