Development in and Around Syracuse Discussion | Page 120 | Syracusefan.com

Development in and Around Syracuse Discussion

Cusefan0307 said:
I'm not a Katko fan by any means, but I will say he does try to do right in this space. His niece committed suicide recently and he's very active in another foundation supporting a local family who's son also committed suicide about 2 years ago.
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I did not know that, thanks for sharing. I was really laughing at having Dr. Phil host it but they plan to have a real doctor attend as well. It's on facebook live so Dr. Phil will probably draw a crowd there would be my guess.
 
New Hispanic restaurant opening tomorrow on Columbus Ave at the corner of E. Fayette. Will feature Puerto Rican and Dominican food

1622556880592.png
 
Opinion piece about the proposed White Pines industrial park in Clay. I'm still scratching my head on why the county is pushing to have this development put there. Traffic on Route 31 is already a disaster

www.syracuse.com

Clay industrial development will ‘forever change the landscape of where we live’ (Your Letters)

White Pine Business Park facility will be almost half the size of Onondaga Lake, dwarfing Amazon warehouse, the letter writer contends.
www.syracuse.com www.syracuse.com

"OCIDA and Onondaga County are obligated to tell the residents everything about this project. Tell the public in an open meeting that this project will encompass over 1,250 acres, 4 million square feet of buildings and 50 acres of paved area. It will be almost half the size of Onondaga Lake. It will make the Amazon complex in Liverpool look tiny. Also, do we get any guarantees that we will not end up like Wisconsin and Foxconn? A $10 billion project shrunk to $672 million and 13,000 jobs to just 1,454. Or the redevelopment project in New London, Connecticut, in which Pfizer was slated to be a tenant. This project that never materialized, costing the taxpayers tens of millions of dollars."
 
bevosu said:
A recent video about Syracuse posted by a visitor from Rochester. This guy has done some nice work highlighting some of the interesting developments in upstate NY cities.

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I had not heard of the McCarthy Mercantile, is that in the old Gallery's? Thanks for posting, great video
 
bevosu said:
A recent video about Syracuse posted by a visitor from Rochester. This guy has done some nice work highlighting some of the interesting developments in upstate NY cities.

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I can’t like this enough. We should have a mega-like option just so I could give this a mega-like!
 
Can't find the Empire Brewery post from a few months ago, but the building owner is back with a redevelopment plan: the Empire space will be carved up into multiple tenant storefronts and the vacant upper-floor office space will be converted to 30 apartments.

I'm surprised (yet not surprised, given the owner's rep) that they've got such a vacancy problem. I used to work in the building; that's solid Class B office space with an industrial loft vibe and great views. The market is soft, but I'm guessing they didn't put a ton of energy into leasing that space up as it emptied out.

I hope the Armory neighborhood isn't becoming too imbalanced with residential conversions. The mixed-use atmosphere has long been a point in its favor.
 
OttoMets said:
Can't find the Empire Brewery post from a few months ago, but the building owner is back with a redevelopment plan: the Empire space will be carved up into multiple tenant storefronts and the vacant upper-floor office space will be converted to 30 apartments.

I'm surprised (yet not surprised, given the owner's rep) that they've got such a vacancy problem. I used to work in the building; that's solid Class B office space with an industrial loft vibe and great views. The market is soft, but I'm guessing they didn't put a ton of energy into leasing that space up as it emptied out.

I hope the Armory neighborhood isn't becoming too imbalanced with residential conversions. The mixed-use atmosphere has long been a point in its favor.
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Multiple tenant storefronts - down the stairs in the basement?
 
OttoMets said:
From the description I saw, yeah. Not sure they've consulted with a design professional on that idea.
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You'd have to be an idiot to rent a portion of that space.

P.S. - The lawyer who did Empire's last lease was an idiot. He let his client sign a lease that reportedly tripled the previous rent. I know both of them. The lawyer is smart about some topics, but commercial real estate is apparently not one of them.
 
OttoMets said:
Can't find the Empire Brewery post from a few months ago, but the building owner is back with a redevelopment plan: the Empire space will be carved up into multiple tenant storefronts and the vacant upper-floor office space will be converted to 30 apartments.

I'm surprised (yet not surprised, given the owner's rep) that they've got such a vacancy problem. I used to work in the building; that's solid Class B office space with an industrial loft vibe and great views. The market is soft, but I'm guessing they didn't put a ton of energy into leasing that space up as it emptied out.

I hope the Armory neighborhood isn't becoming too imbalanced with residential conversions. The mixed-use atmosphere has long been a point in its favor.
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A lot of businesses downtown are in trouble right now.
I know of a tenant who leased a storefront downtown that has had a terrible time keeping tenants, and what they had to do was waive any CAM. The owner is bearing all the operating expenses; it's just a flat rent. You NEVER see that in commercial spaces, and the rent was very reasonable, below market, with 3% annual increases.
 
IthacaMatt said:
A lot of businesses downtown are in trouble right now.
I know of a tenant who leased a storefront downtown that has had a terrible time keeping tenants, and what they had to do was waive any CAM. The owner is bearing all the operating expenses; it's just a flat rent. You NEVER see that in commercial spaces, and the rent was very reasonable, below market, with 3% annual increases.
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Yes, I'm concerned that if customers don't come roaring back in the next couple quarters, 2022's going to be a bloodbath.
 

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