NBT Bank provides financing for transformative Syracuse projects

SYRACUSE — NBT Bank officials say they are excited about the revitalization taking place in Syracuse and their role in helping to secure financing for some of the projects. 

The Syracuse redevelopment and revitalization projects that NBT has participated in include the following three.

Housing Visions: Winston Gaskin Homes

Housing Visions, a regional nonprofit developer, contractor, and property management firm based in Syracuse, has recently completed construction and leased two noteworthy neighborhood revitalization projects. 

Located on Syracuse’s East Side, Housing Visions’ $20.8 million Winston Gaskin Homes scattered-site neighborhood preservation project rehabilitated 20 buildings. At the conclusion of the project, 66 units of affordable family rental housing were available with 20 units reserved for survivors of domestic violence who are at risk of homelessness with support services provided by the YWCA of Syracuse.

Helio Health: Learbury Centre and James Street 

NBT has supported Helio Health with the financing on two transformative projects. Several years ago, the bank financed the purchase of the former administrative offices at Learbury Centre at 329 N. Salina St. in Syracuse. More recently, the bank has extended financing to Helio Health to cover the purchase of a new headquarters administrative building at 518 James St. in Syracuse and cover the cost of the Learbury building renovations. These projects will enable Helio Health to continue to expand its substance abuse and mental-health services to the community.

Catholic Charities: Housing Services Center

NBT Bank provided a $5 million line of credit to enable the development of the Catholic Charities of Onondaga County Housing Services Center at 1801 Erie Blvd. E in Syracuse. 

The center will ultimately include an 80-bed emergency shelter, onsite health and mental-health services, a culinary training program, office space for 40 professional staff members, as well as eight apartments for highly vulnerable homeless men. The project is expected to be completed his fall, the bank said.

“These investments really demonstrate who NBT is as a community bank,” David Kavney, NBT Bank’s regional president for both the Central New York and Mohawk Valley regions, said in a statement. “We’re not only professionals, but we’re local residents who are proud to use our expertise to support the types of projects that make a real impact in our communities — from economic development to affordable housing.”

NBT Bank offers personal banking, business banking, and wealth-management services from offices in seven states — New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut. The bank and its parent company, NBT Bancorp (NASDAQ: NBTB), are headquartered in Norwich. NBT Bancorp had assets of $11.7 billion as of June 30.