SYRACUSE, N.Y. — Bankers Healthcare Group (BHG) on Friday broke ground on the construction project for its future new $35 million financial headquarters located on property at 300-324 Spencer St.
“The building [is] going to be an addition to our financial headquarters that’s already here,” Al Crawford, co-founder, chairman, and CEO of BHG, said in his remarks at the groundbreaking ceremony. “It will be five stories. We will have a garden environment rooftop on the top of the building.”
BHG — which is headquartered in Davie, Florida — currently has its financial headquarters at 201 Solar St. in Syracuse’s Franklin Square area. BHG will relocate and consolidate several of its local operations into the upcoming facility.
“We would not have been able to do this with the support of the City of Syracuse, Onondaga County, New York State, and CenterState CEO,” Crawford said.
Gov. Andrew Cuomo first announced the expansion during a Wednesday morning appearance at the Marriott Syracuse Downtown, the former Hotel Syracuse.
Spencer Street LLC will construct and furnish a 100,000-square-foot facility at 300-324 Spencer St. in Syracuse to house Bankers Healthcare Group and its Capital Collection Management unit.
The project will include the demolition and remediation of the existing property, and the construction and full equipping and furnishing of the new facility. The combined initiative will result in the creation of 330 new jobs.
During construction, BHG employees will remain at their current office locations in Franklin Square and Armory Square, and Capital Collection Management employees will continue working from the company’s Armory Square location.
BHG expects construction crews to complete the project by the end of 2023.
New York is contributing $11 million for the project, including a $4 million capital grant and $7 million in Excelsior Jobs tax credits.
“We really thank the governor for his support. The State of New York has really done a lot to encourage us,” said Crawford.
Founded in 2001, Bankers Healthcare Group provides loans and financing to health-care practitioners and other licensed professionals.
Besides its corporate headquarters in Davie, Florida and its financial headquarters in Syracuse, BHG also operates a research and development office in New York City.
Contact Reinhardt at ereinhardt@cnybj.com