SYRACUSE, N.Y. — Construction crews have started work on #BLVD404 at 404 University Ave., a student-housing project near the Syracuse University campus.
Jared Hutter, managing principal of BLVD Equities, said he expects crews to have the structure ready for student living in the fall of 2016.
The project cost is about $18 million.
Hutter spoke with reporters in advance of a short ceremony Thursday morning to formally break ground on the project at the construction site.
A vacated medical building previously occupied the property before crews demolished that three weeks ago, Hutter said.
Crews are currently working on the new building’s foundation on the property.
#BLVD404 is a joint-venture development between New York City–based BLVD Equities and New Jersey–headquartered Rosen Property Group.
Hutter, his business partner, Michael Edelman, and Brian Rosen, principal of the Rosen Property Group, are all Syracuse University graduates.
“This project has actually been a dream of ours for about a year,” Hutter said at the construction site.
Hutter formed BLVD Equities in 2014 after following the student-housing market “for a number of years,” according to a news release that the Hueber-Breuer Construction Co. Inc. issued on Wednesday.
Hueber-Breuer is leading the construction and design team on the project.
The group also includes Albany–based CHA Companies, which has an office in the Galleries of Syracuse at 441 S. Salina St. in Syracuse; Buffalo–based Lauer-Manguso & Associates Architects; and Salina–based Palucci Engineering PC, according to the Hueber-Breuer news release.
When completed, the structure will house 163 undergraduate students (juniors and seniors) in 54 apartments. The complex will include a fitness facility, a student lounge, and on-site management.
Hutter anticipates most occupants will be Syracuse University students but said it’s open to students from any area college or university.
Contact Reinhardt at ereinhardt@cnybj.com
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