SYRACUSE — It’s expected that the Syracuse Common Council will vote on the formal sale of City Hall Commons early in 2023, now that city officials have chosen a developer for the property. That’s according to the office of Syracuse Mayor Ben Walsh, which on Nov 2 announced Hanover Real Estate Development as the developer […]
Get Instant Access to This Article
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
- Critical Central New York business news and analysis updated daily.
- Immediate access to all subscriber-only content on our website.
- Get a year's worth of the Print Edition of The Central New York Business Journal.
- Special Feature Publications such as the Book of Lists and Revitalize Greater Binghamton, Mohawk Valley, and Syracuse Magazines
Click here to purchase a paywall bypass link for this article.
SYRACUSE — It’s expected that the Syracuse Common Council will vote on the formal sale of City Hall Commons early in 2023, now that city officials have chosen a developer for the property.
That’s according to the office of Syracuse Mayor Ben Walsh, which on Nov 2 announced Hanover Real Estate Development as the developer to purchase and redevelop City Hall Commons at 201 E. Washington St.
The city made the selection following a request for proposals that was issued in late 2021 to find a developer to purchase and rehabilitate the flatiron-style building.
The proposal from Hanover Real Estate Development will lead to a mixed-use property with plans to convert the upper floors into affordable and market-rate apartments. Crews will convert the ground level into commercial space for possible retail and restaurant use.
The purchase price of the property is $850,000 and development is projected to cost about $13.2 million, Walsh’s office said. The sale “better serves constituents and enhances downtown resources,” by putting the Commons back on the tax roll and “achieving a higher and better use for the surrounding neighborhood,” according to the mayor.
The development team will now begin working on construction drawings and development plans on the City Hall Commons site.
Hanover Real Estate Development includes co-founders Adam Fumarola and Luke Esposito. It rehabilitates vacant and underused properties throughout the city, Walsh’s office said. The company has a particular focus on Hanover Square with several projects already underway along Water Street.
“The team at Hanover Real Estate Development has a clear commitment to Syracuse and enhancing our city, focused on ensuring that all residents are included in the revitalization of downtown both in housing options and business opportunities,” Walsh said. “I look forward to working with their team, our colleagues at the Department of Neighborhood and Business Development and Common Council to develop the formal plans for this project in the coming weeks and months.”
“Hanover Real Estate Development really formed out of a vision for Syracuse and its residents; a city which is welcoming to all those who wish to call it home. Real estate development is a large part of that, and we believe it is critical that all its forms are focused on leaving a positive impact on the community at large,” Fumarola said. “As part of helping Syracuse to achieve its full potential, we wanted to play a role in preserving the historical nature of City Hall Commons and really make it a place Syracuse residents and visitors alike are able to live, play, work and visit to experience a space designed with everyone in mind.”
The project also means some City of Syracuse offices will move from City Hall Commons to the One Park Place office building in 2023. They include Neighborhood and Business Development, Code Enforcement, the Central Permit Office, Fire Prevention, and the Syracuse Police Office of Professional Standards, per Walsh’s office.
The move saves taxpayer dollars and “creates better access for constituents with better parking and a convenient location” between the Public Safety Building, Onondaga County offices and Syracuse City Hall, Walsh’s office contends.