CAMILLUS — Construction continues on Township 5, a massive development west of Syracuse that will create 500,000 square feet of retail, residential and office space, and play host to the region’s first Costco store. “Things are going good,” says Joseph Goethe, a principal at the Cameron Group, LLC of DeWitt. The Cameron Group is developing […]
CAMILLUS — Construction continues on Township 5, a massive development west of Syracuse that will create 500,000 square feet of retail, residential and office space, and play host to the region’s first Costco store.
“Things are going good,” says Joseph Goethe, a principal at the Cameron Group, LLC of DeWitt. The Cameron Group is developing the $58 million Township 5 project on 67 acres along Hinsdale Road, Route 5, and Bennett Road in Camillus under the Hinsdale Road Group, LLC moniker.
Work on the parcel of land for the Costco store is under way, with construction on the building to begin within the next 60 days, Goethe says. It takes about 110 days from when construction starts until the store opens, which puts Costco right on track for its planned September opening, he adds.
Along with being a popular “club” shopping destination, Costco is exciting for the area, Goethe says, because it will bring good-paying jobs to the market. According to a June 6, 2013 article on www.businessweek.com, the average hourly wage at Costco is $20.89, not including overtime, and 88 percent of employees have company-sponsored health insurance.
According to www.costco.com, the company operates 649 warehouse stores, including 462 in the United States, and will open 14 new stores by the end of August.
Other stores
The restaurant chain Olive Garden is no longer slated to open in Township 5, Goethe says. The deal fell through when Olive Garden’s corporate office put a halt on all new development. “We’re looking to replace them,” Goethe says, adding that Cameron Group is already in talks with other restaurants.
Work on five more buildings at Township 5 will start in May, he says. Tenants will include Longhorn Steakhouse and Frank Theaters’ CineBowl & Grill. Other tenants lined up for the project include Buffalo Wild Wings, Mesa Grande Taqueria, Papaya Asian Kitchen & Bar, Red Robin, Subway, Metro Mattress, Mystique Nail Spa, Sally Beauty, Chat Wireless, GNC, Hair Studio One, and Gertrude Hawk Chocolates. Cameron Group will also bring Hoopla! Frozen Yogurt to Township 5, adding to other Hoopla locations the company operates in the area, including Binghamton, Cortland, Auburn, New Hartford, and Utica.
Along with work on the retail buildings at Township 5, work has also included about $6.2 million in infrastructure work including relocating 800 feet of a National Grid gas main; improvements, including signal improvements, along the surrounding roads; improved drainage; and improvements to the area’s pump station to extend the town’s sewer district.
“It’s a lot of construction jobs,” Goethe notes. “It’s also a major public improvement to the area.”
Hinsdale Road Group received a 25-year payment-in-lieu-of-taxes (PILOT) agreement last spring from Onondaga County for the project and will make payments equivalent to the taxes, according to county records.
Morgan Management, LLC of Rochester is building 96 apartments, filling a need for more apartment space in the area, Goethe contends. The area’s apartment occupancy rate is about 96 percent, which shows there is a need for more space, he says. He believes the apartments, located near the back of the property in a residential area, will appeal to both empty nesters and young professionals due to the low maintenance required as well as the close proximity to Township 5 amenities as well as easy highway access to other Syracuse offerings.
Next year, Goethe says Cameron Group will move forward with the next phase of the project. “We are working a number of office deals,” he says. “We’re working on including an office park portion.”
Cameron Group is approved to build up to 40,000 square feet of office space that Goethe envisions housing a mix of businesses such as medical and professional businesses. “There’s a demand for professional space on that side of the market,” he says.
Headquartered at 6007 Fair Lakes Road, Cameron Group’s (www.cameronllc.com) current portfolio includes 2.3 million square feet of retail and mixed-use properties in New York, Florida, New Jersey, and Kansas. Cameron also leases and manages an additional 1.2 million square feet of real estate in New York.
Other Cameron properties in the region include The Orchard Plaza in New Hartford; Aspen plazas in Auburn, New Hartford, and Utica; and Moe’s Plaza in Utica.
Cameron is also working on University Hill in Syracuse, planned to open in 2015. The project will include a Syracuse University bookstore, a fitness center, and 8,000 square feet of retail space.
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