Proposed Construction: 75 Apartments for Historic Syracuse Structure Close to I-81, View Renderings Here
Renovation and Redevelopment Projects Transform Syracuse, NY
Syracuse, New York is witnessing a significant transformation, with multiple apartment construction and redevelopment projects underway. The city is seeing a major, multi-year affordable housing transformation in the East Adams neighborhood, as well as ongoing renovations in the East Adams neighborhood.
One of the most notable projects is the Icon Lofts, a proposed apartment and commercial building development by developer Grazi Zazzara Jr. Located at 311 Genant Drive, near Franklin Square and overlooking Interstate 81, the historic building will be renovated to house approximately 75 apartments. The developer has filed plans for the project with the city.
The Icon Lofts project has received a $28 million tax break, making it a significant investment in the city's revitalization. The location of the development offers residents easy access to the city's vibrant downtown and the picturesque Franklin Square.
In another development, a local group has agreed to purchase Cazenovia College, with details of the purchase and plans now available. The new owner has plans to transform the campus into a mixed-use development, including a hotel, residential units, and commercial spaces.
Meanwhile, the Syracuse Housing Authority is leading a prominent project to revitalize the East Adams neighborhood in the 15th Ward. The redevelopment, which now has an extended completion date of September 2027, includes the Almus Olver Towers, a 13-story senior living building with 187 apartment units. The refurbishment includes redesigning common areas, with residents remaining in place through phased relocations within the building.
Elsewhere in the city, demolition has started on the fire-damaged Motherhouse building at the former Maria Regina campus, potentially paving the way for new development in that area.
There is a noted trend in apartment renovations blending industrial aesthetics with modern finishes, indicating a style direction in local apartment transformations. To facilitate more efficient approval processes, Syracuse is transitioning construction permit applications for such projects to an online system as of mid-2025.
In a separate development, a historic musical venue in Syracuse is currently up for sale. The sale of a warehouse owned by CNY Regional Market for a loss of $200,000 is another indication of the ongoing changes in the city's real estate landscape.
Together, these points highlight active redevelopment efforts focusing on housing modernization and neighborhood revitalization in Syracuse, with the Syracuse Housing Authority playing a key role in the largest ongoing projects.
Investors looking to the real-estate market in Syracuse, NY, might find opportunities in the ongoing residential redevelopment projects. For instance, the Icon Lofts development is set to offer approximately 75 apartments following renovations. Additionally, the Syracuse Housing Authority is spearheading a significant redevelopment project in the East Adams neighborhood, which includes refurbishing the Almus Olver Towers with 187 residential units.
