Syracuse, New York Center City Investment $ 1.4 Billion
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Syracuse, New York Center City Investment $ 1.4 Billion University Hill The institutions on University Hill are actively investing in our community. 1 Hutchings is in the midst of a $34 million plan to renovate all of the buildings on its campus and expects to open an additional 24-bed adult inpatient unit in the fall of 2012. 2 The SUNY College of Environmental Science and Forestry has completed the $31.4 million Centennial Hall student residence. 3 ESF Gateway Building - In August, SUNY ESF’s $28.3 million “Gateway Building” which will be the welcome point for visitors and students on campus, will be complete. 4 ESF also plans to build a new $86 million research building. CNY Biotech Accelertor - In conjunction with SUNY ESF, Upstate is nearing the completion of the new $23 million CNY Biotech Accelerator at Loguen’s Crossing (the former Kennedy 5 Square). 1 University Hospital serves over 400,000 outpatients and discharges about 20,000 6 inpatients per year. Upstate Cancer Center - Upstate University Hospital has its $85 million cancer center under 6 construction. Upstate will complete the expansion to its Institute of Human Performance, a $72 million 7 project in November 2013. Upstate Academic Building - Upstate has a major new project on the drawing boards, a $36 million academic building, which is scheduled to begin construction this fall and be complete in 2014. Priorities for the building include an on-campus home for the College of Nursing, a 400-seat auditorium and a specialized classroom designed to accommodate 8 new technology and a growing student population. Loguen’s Crossing - Design is underway for a new 100,000 square foot office building for Upstate - Loguen’s Crossing. The $20 million project is expected to be complete in April, 2014. Upstate’s partnership with COR, one of Syracuse’s leading private developers is projected to result in $340 million of new investment in the city, with new residential, commercial, as well as research and development facilities. This investment testifies to 9 what University Hill institutions can directly do to support the real property tax base of the city. Campus West - Syracuse University’s growth is the driving force behind Campus West, a $22 million, 260-unit student apartment complex geared toward graduate students. Work 10 will be complete by summer of 2012. Dineen Hall Construction has begun on Dineen Hall, the new $95 million facility for the S.U. College of Law. The building is designed to be 200,000 square feet, and it will include a 300-seat auditorium and a 36,000-square-foot library, along with lecture halls and 11 faculty offices. It is scheduled to be completed in 2014. 2 SU Bookstore - Syracuse University is also working with the Cameron Group, which pro- poses to build an 85,000 square foot mixed-use project at University Avenue and Harrison Street. This $20 million investment would combine a new Syracuse University bookstore, 12 fitness center, and retail space, creating a new commercial anchor for Marshall Street. Connective Corridor - A $10 million TIGER grant was secured to complete the Connective Corridor. Syracuse University’s commitment to the revitalization of the city is easily visible 13 with over $40 million invested in upgrading the city’s infrastructure. The Veterans Administration Medical Center is moving toward completion of its $84 million Spinal Cord Injury Center. This will assure that combat veterans returning from our nation’s 14 conflicts are treated to the best of medical care after their service to our country. Crouse Hospital Surgical Center - During 2011, Crouse Hospital completed the Witting Surgical Center. The $50 million investment features 14 new inpatient operating rooms and support areas. This state of the art facility at Crouse will provide larger operating rooms 15 that can accommodate the space needs of complex surgeries. Ronald McDonald House - In the East Genesee business district, the Ronald McDonald House is now constructing its $6 million new facility at Genesee Street and University Avenue. This project will double the number of rooms available for families whose children 16 are hospitalized. Hotel Skyler - 2011 also marked the completion of the $6.7 million Hotel Skyler, during which the former Temple Adath was transformed into 58 unique hotel rooms. The Skyler is one of only three hotels in the US to have won the prestigious LEED platinum certification 17 from the US Green Building Council. The Center of Excellence in Environmental and Energy Systems was the first building on the Hill to earn LEED platinum status. Last month the Center formally signed an agreement with the state for a $3 million award from the first REDC round. This funding will be used to fit out available space for new research and development labs specifically focused on the New 18 York Energy Regional Innovation Cluster, with a total project cost of $8.7 million. 3 Copper Beech Commons - New investment is also underway at Copper Beech Commons – on the site of the former Genesee Street Armory. Entrepreneur Norm Swanson of the Woodbine Group is investing $23 million in the renovation of the historic armory and the construction of a new four-story addition which will house over 300 students at the new complex. In addition to residential apartments, it will feature amenities such as a full-service 19 fitness center, an indoor basketball court, a gaming room, a movie theater and an entertainment area. The new Forman Park is complete, which has been redesigned as part of the Connective Corridor. The renovation has created new spaces in the park for public art, a new fountain, which is a replica of the original that graced the park, and space for people to sit, stroll, or 20 watch performances. Crowne Plaza - Forman Park will provide a new “front yard” for the Parkview Hotel and the Crowne Plaza, which is completing a $5 million investment in the hotel’s elevators, lobby, 21 and 279 guest rooms. The Sheraton Syracuse University Hotel and Conference Center has just completed a $4.4 million project – improving the hotel’s rooms, dining facilities, lobby, and fitness 22 center. The Hotel is the eastern anchor for the Crouse-Marshall area. Housing Visions Unlimited is partnering with the Veterans Administration Medical Center, to create an $8.1 million, 50-unit apartment complex for homeless veterans, Van Keuren 23 Square. With the expansion of University Hill, there is a need to continually upgrade the infrastructure that serves the district. This year, National Grid invested over $6 million to increase electric capacity to University Hill. This prepares National Grid for the future development of this area. 4 Downtown Syracuse In total, more than $180 million in capital and active public-sector support is taking place in downtown Syracuse, in projects which are either underway or will be under construction this year. Downtown Residential Space - Two of the factors that are having an impact in downtown is the emphasis on historic preservation and adaptive reuse and the movement toward urban living. In the last census, downtown and the lakefront were two of the fastest growing neighborhoods in the County. Right now, there is little or no vacancy among down- town market rate housing units. Downtown Housing Statistics • Market-rate rentals at 99% occupancy • 1,346 total residential units downtown • 570 more planned or under construction • $1.10 to $1.25 psf in rent • 40% of downtown residents associated with University Hill Over the last five years, the Downtown Committee has secured $800,000 in grants through the NY Main Street Program, which leveraged more than $6 million in investment supporting more than 28 downtown projects. As part of the Connective Corridor Façade Improvement Grant Program, $625,000 was awarded to more than 40 downtown businesses for improvements that will include: new awnings and canopies, outdoor bistro tables, chairs and umbrellas, lighting displays and banners, custom benches, bike racks, window treatments, façade painting, murals, public art, planters and landscaping, decorative fences, art-grade pavers, window and door replacements, and other architectural enhancements Pike Block - In the heart of downtown, VIP Structures, MDF Property Holdings and Adapt CNY have been advancing the Pike Block on the 300 block of South Salina Street. The project combines four adjacent properties. With the assistance of State and local funding support, as well as the commitment of developer VIP Structures, the project is under construction and set to be completed in early 2013. The result will be the conversion of 130,000 square feet of vacant space into 78 market rate apartments, 25,000 square feet 24 of ground floor retail space and a revitalized city center. 5 Label Shopper Building - Across the street from the Pike Block, the former Label Shopper building has undergone a $2.5 million mixed-use renovation to turn the upper floors into 12 luxury apartments and renovate the ground-floor retail space. Villa, an urban sneaker 25 and apparel store, has opened on the first floor. The Butler Building, a $2 million project that includes twelve apartments and 7,500 square feet of commercial space, was completed in August 2011 by developers Balle 31, Inc. All units are leased. 26 Dey’s Building - On the 400 block of South Salina Street, developers Bob Doucette and Rich deVito completed work at the Deys Building by converting vacant space on the upper floors into 45 residential units and have added high profile tenants to the ground floor of the building, including BTI The Travel Consultants and Café Kubal. BTI relocated to Deys from outside of downtown in November 2011 and Café Kubal opened their third location 27 here in December 2011.