SYRACUSE — Developers of the Whitney Lofts, a mixed-use redevelopment project that targeted 321 and 323 S. Salina St. in downtown Syracuse, have formally opened the project. The $3.5 million development created 16 new apartments, a tenant fitness center, private terraces on two of the units along the back, said Ryan Benz, project developer and […]
SYRACUSE — Developers of the Whitney Lofts, a mixed-use redevelopment project that targeted 321 and 323 S. Salina St. in downtown Syracuse, have formally opened the project.
The $3.5 million development created 16 new apartments, a tenant fitness center, private terraces on two of the units along the back, said Ryan Benz, project developer and a licensed real-estate salesperson with Acropolis Realty Group of Syracuse.
“I along with my partner, Steve Case, Shashank Bhatt, and my wife, Leigh-Ann, are extremely proud to be here today to open this project and most importantly to celebrate the continued downtown resurgence,” Benz said to open his remarks at the May 24 formal-opening event.
The project began “more than two years ago,” he added. It takes its name from the Whitney Department Store which once operated in 321 S. Salina St.
Rich & Gardner Construction Company of Syracuse is the contractor on the project, while Dalpos Architects & Integrators, also of Syracuse, is the designer.
The Whitney Lofts include Oh My Darling and Clementine, a full-size restaurant and grab-and-go breakfast and lunch counter, respectively, which opened on the ground floor in March.
Operated by Ryan Benz and Leigh Ann Boatman-Benz, together the restaurant space occupies 5,500 square feet. In addition, a speakeasy called “The Fitz,” opened in the basement of the building in April. The Fitz was “designed with the Landmark Theatre in mind,” per a news release about the project.
“We believe a robust downtown market is critical in continuing the positive momentum and believe that with additions like the Whitney Lofts along with our beautiful new restaurant Oh My Darling, we’ll continue to attract most importantly new employers to come back downtown and will continue this tremendous momentum,” said Benz.
The speakers at the formal-opening event also included Syracuse Mayor Ben Walsh.
“Downtown isn’t just about one demographic anymore … You have empty nesters. You have millennials. You have everything in between. It’s just really exciting to see,” said Walsh.
Crediting assistance
In his remarks, Benz credited the assistance of local, state, and federal agencies as they pursued the Whitney Lofts project.
He noted the work of U.S. Senate Minority Leader Charles Schumer (D–N.Y) and his office in helping the developers navigate the historic tax-credit process. Schumer helped them first announce the project in September 2017.
Schumer’s staff worked with state officials and those at the National Park Service, which allowed the developers to remove the “blighted” façades that dated to the 1960s to reveal the building’s original historic windows.
“Without their support and that of the [New York State Office of Parks, Recreation and Historic Preservation] and the National Park Service, this project would not have been possible,” said Benz.
The Central New York Regional Economic Development Council (REDC) had recommended the projects for $320,000 in state funding, which Benz called “another critical component.”
“[Community Preservation Corp.] provided a $3.6 million construction loan and a SONYMA-insured $3.5 million permanent loan through its partnership with the New York State Common Retirement Fund,” said Benz. SONYMA is short for State of New York Mortgage Agency.
CenterState CEO led the regional advocacy efforts for the historic preservation tax credits and also guided the developers through the application process for the REDC funding.
The Downtown Committee of Syracuse Inc. submitted the paperwork to establish the South Salina Street Historic District, Benz noted.
“[The Downtown Committee’s] work [is] why we stand here today, paving the way for future developers to use the tax credit as we did as an economic-development tool,” he added.