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Be Downtown Syracuse Market Data for Retail


Great Business Begins Downtown From the days when the Erie Canal ran through

Business owners continue to flock to Downtown

Downtown Syracuse, it has been a retail destination.

Syracuse to be a part of the momentum—join them!

People may no longer be traveling by boat to obtain their wares in Downtown Syracuse, but they are certainly making their way here to shop.

The information on the following pages demonstrates Downtown Syracuse’s viability as a location for your business. Want to learn more? Please contact our

The diversity, quality, and selection of merchandise

staff at (315) 422-8284 and we can help you with your

and cuisine in Downtown Syracuse is unparalleled

next steps.

to neighboring retail centers. Downtown Syracuse is your destination when looking for something unique, whether it’s a chic outfit, a hand-crafted gift or an authentic meal.

We look forward to working with you!


The

of New York 200 MILE Ottawa

Montreal

S

Toronto

Syracuse

Albany

Boston

NE REGION

New York City Philadelphia

3

690

1

481

90

4

CENTRAL NEW YORK 1

2

2 3 4

Destiny USA Syracuse University Hancock International Airport William F. Walsh Regional Transportation Center

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DOWNTOWN SYRACUSE

Syracuse Metro Area Population: 662,577 Syracuse Metro Median Family Income: $74,791 “Downtown Syracuse is the hub – it’s centrally located and it’s where the revitalization is happening.” P. J. Goodman, Owner, Sweet on Chocolate

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Downtown’s Neighborhoods CLINTON SQUARE The Erie Canal once ran through Clinton Square, making it a center of business activity. Clinton Square continues to be the center of the community today, with festivals held in the Square nearly every weekend throughout the summer, as well as the Downtown Farmers Market every Tuesday from June to October.

82 8 blocks

distinct neighborhoods

ARMORY SQUARE

HEART OF DOWNTOWN

CONVENTION DISTRICT

Armory Square offers numerous loft and condo-style apartments in beautifully renovated buildings. Residents of Armory Square enjoy access to restaurants, nightlife, shopping, parks, services, transportation, museums, live performances and art galleries right at their fingertips.

South Salina Street runs through the middle of Downtown Syracuse and has been a main thoroughfare throughout Syracuse’s history. Many of the buildings along Salina Street were once department stores, but now have been converted into a mix of residential units on upper floors and retail and office space on lower floors.

Technology meets hospitality in the Convention District. From The Tech Garden business incubator to the beautifully restored Marriott Syracuse Downtown, the I.M. Pei-designed Everson Museum of Art, and the Oncenter Convention Center, the Convention District boasts conferences, galas, sporting events, live theater, and more.

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HANOVER SQUARE

DOWNTOWN EAST

In 2001, a number of the upper floors of Hanover Square’s historic buildings were converted into loft-style apartments. Hanover Square residents enjoy living in a European-style neighborhood with the ability to walk out their door for a cup of coffee or a bite to eat.

The Downtown East business area is located around one of the largest green-space parks in Downtown Syracuse. The Fayette Firefighters Memorial Park is a great place to spend time in the summer, a visual treat throughout the fall and during the holiday season.

CATHEDRAL SQUARE Historically, this area was a quiet residential place surrounded by many churches. Today, the Cathedral Square area is a center of civic, cultural and religious life in Downtown Syracuse. In front of the Cathedral of the Immaculate Conception in Columbus Circle stands the restored Columbus Monument bordered by the Onondaga County Courthouse, the Onondaga County Civic Center and a number of churches.

PRESIDENTIAL PLAZA Presidential Plaza, on the east side of downtown, consists of multi-story apartments and townhouses. Presidential Plaza’s proximity to the hospitals on University Hill makes it a popular home for medical students and doctors.

“I love the energy, architecture and options of downtown. This is where we started and I couldn’t imagine it any other way.” John Stage, Founder, President & CEO, Dinosaur Bar-B-Que

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Retail at 80 Restaurants a Glance 60 Retail businesses

80 Service-based businesses

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Average net increase Retail businesses/year

Retail rent range:

$10-$22/sq. ft.

“Bringing in new businesses and higher-end living has made downtown more attractive and an upbeat way to shop local and eat local.”

“More of greater Syracuse’s area businesses are bringing their brand to downtown.”

“We are glad our business was able to expand and add a downtown location.” – Recess Coffee

“Downtown Syracuse is an energetic, urban atmosphere filled with people who have a broad, international palate and understand quality.” – Max & Pook Chutinthranond, Co-owners, Lemon Grass and Bistro Èlèphant

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“The Syracuse downtown... is going through a sort of renaissance and revival. You can feel the energy gathering... people are moving in, housing is being developed, entertainment and services are thriving...” – Designer Thom Filicia, at the Hotel Syracuse Gala

“We’re energizing the street.” – Shaughnessy’s Irish Pub

“Downtown Syracuse has provided our business with a diverse customer base of over 25,000 people every day for the over 120 years that we have enjoyed doing business in the central city.” – W. Donald Lemp, Owner, M. Lemp Jewelers


Businesses Flock to Downtown

28,000 Downtown Employees

Growing Sectors • • • •

Technology-Based Companies Engineering Financial and Accounting Business and Commercial Law

• Employee Benefits • Advertising, Marketing, and PR • Architecture

Signs of the Times

Big Names are Cropping up Throughout Downtown Syracuse! “It was good for Upstate to find enough space to house all our staff in one location. It was good for the city to bring almost 400 jobs to downtown to improve the economy locally down here. Our hospital is 10 blocks from here. Support services interact very closely with hospital clinical activities. To be close and to be able to get there quickly was a key consideration for us.” Upstate University Hospital’s Chief Financial Officer

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Destination Downtown Tourism generates $850 million/year in Onondaga County

Biggest growth market: Leisure travel

Biggest leisure feeder market: Ottawa

500+ hotel rooms located in Downtown Syracuse

Biggest Demographic • Ages 30-65 • Couples

Visitor Profile

400

$

• Educated • 3-night typical stay

Daytrip Spending

1,000

$

Top 5 Activities 1. 2. 3. 4. 5.

Dining Shopping Visiting Friends & Relatives Driving/Sightseeing Festival/Event

Overnight Spending

Cultural Attractions Draw Crowds Annual Attendance Estimates

Erie Canal Museum – 20,500 Everson Museum of Art – 80,000 Milton J. Rubenstein Museum of Science & Technology (The MOST) – 110,000 Onondaga Historical Association – 174,000 The Oncenter (Convention Center, War Memorial Arena, and Civic Center theaters) – 400,000

The Landmark Theatre entertained more than 53,000 guests and grossed $4.1 Million during a three-week run of The Lion King!

“Downtown Syracuse is a destination... our location has helped grow our retail base by attracting a diverse group of locals, students, and tourists.” The Sound Garden record store

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Walk This Way W Willow St

With a Walk Score of 89, Downtown is the most walkable neighborhood in Syracuse. Most errands can be accomplished on foot. The Syracuse Metropolitan Transportation Council counted pedestrian movements at key intersections in 2017.

see

St

S Warren St

ne

N Salina St

Ge

N Clinton St

W

es

Jam

St

W Genesee St

Erie Blvd E

Erie Blvd W

S Clinton St

Montgomery St

E Water St

W Water St

E Washington St

W Washington St

E Washington St S State St

S Franklin St E Fayette St

W Fayette St

Montgomery St

S Warren St

S Salina St

S Clinton St W Jefferson St

E Jefferson St

EO

no nd a

ga

St

Walton St

Montgomery St

2017 Pedestrian Counts*

241-750 751-1000 1001-2000

Madison St

da ga no n EO

* Cumulative 4-hour total AM Count: 7 am - 9 am Mid-day Count: 11 am - 1pm

St

2001-5500

Harrison St

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Investment Trends Current or Announced Investment in Downtown Syracuse

345

$

MILLION

652

$

Invested in Downtown Syracuse Since 2010

MILLION

INFRASTRUCTURE

209

$

MILLION

10

RESIDENTIAL

252

$

MILLION

OFFICE

45

$

MILLION

CULTURAL

38

$

MILLION

HOSPITALITY AND ENTERTAINMENT

108

$

MILLION


Downtown Living

3,600 77% Downtown Syracuse Residential Population

10 Year Downtown Population Increase*

By 2020, Downtown Syracuse is poised to add more than 500 new apartments, further expanding the hours of downtown activity.

*2008 - 2018

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Rent Range:

600- 3,000

$

$

1,270

1,950

$

$

Average Monthly Rent one-bedroom

Average Monthly Rent two-bedroom

More than 2,000 housing units Average 9% annual growth since 2012

Occupancy: 99%

(Occupancy for two-bedrooms is 97.3%)

“I really like living downtown... I love that there are new businesses and restaurants opening up all the time, I love the festivals downtown, I love being able to walk places. I’m really happy to live down here.” Downtown Resident

Average condo sales price since 2012:

12

378,000

$


Who are Downtown Syracuse’s Residents?

71%

under age 35 years

They’re well educated. 89% hold a Bachelor’s degree or higher

87%

do not have kids

They’re serious about work. 80% are employed full-time

Many want to live where they work. 55% both live and work in Downtown Syracuse

$250

They tend to have a higher reported income. 33% of survey respondents reported household income of $100,000 or more

Downtown Residents’ Average Monthly Spending

$200

By Category

$150 $88.01

$86.02

$62.08

$50 $0

are current students

$284.55

$300

$100

17%

Retail

Services

Food & Beverage

Entertainment

Total Monthly Spending per Resident:

$520.60 $520.60

* Data taken from the Downtown Committee of Syracuse Resident Survey, Fall 2016. ** Downtown Residents includes 13202 ZIP Code.

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Needed Services*

Items that at least 50% of residents said were needed downtown include:

81%

74%

Bakery with evening/ weekend hours

Bookstore

83%

Extended pharmacy/ drug store hours

96%

77%

Expanded restaurant hours

Full-Service Grocery Store

78%

Winery/distillery/ tasting room

Drycleaner

73%

Shared marketplace for international foods

67%

Men’s and women’s basic clothing

71%

Shared marketplace for small retailers/entrepreneurs

68% 70%

Packing and shipping

68%

Expanded retail hours

Tailor/seamstress

59%

Juice/smoothie bar

Office supplies

56%

Pet-friendly eateries/ expanded outdoor seating

71% 61%

Services Worth Exploring Beauty retailers

46%

Newsstand

49%

Off-leash dog park

Toy store/ Children’s bookstore Vegetarian or vegan restaurants

42% 47%

Stationery

48% 47%

Class-based art studio

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Pet grooming/ Pet supplies

* Based on a provided list of options

59% 46%


Would Improve Their What do Residents Feel Downtown Living Experience? Would Improve Their residents to list anything Living that came to mind that would improve their experience living in Downtown Experience? Downtown Syracuse. Nearly half of Downtown residents respondents (48%) volunteered that In an open-ended question, the Fall 2016 Downtown Resident Survey asked Downtown

In an open-ended question, the Fall 2016 Downtown Resident Survey asked Downtown

having a grocery store/market/fresh produce in Downtown Syracuse would improve their

A Grocery Store

residents to list anything that came to mind that would improve their experience living in

Downtown living experience. Some said any market with fresh produce would do, while others

Downtown Syracuse. Nearly half of Downtown residents respondents (48%) volunteered that

requested brand-name supermarkets. sample of write-in comments is provided below: having a grocery store/market/fresh produce inADowntown Syracuse would improve their Downtown living experience. Some said any market with fresh produce would do, while others

healthy is food requested brand-name supermarkets. A sample of write-in“Acomments provided below:“… a downtown

market with fresh grocery store would “A grocery store would “A healthylocal food foods would “… a downtown be life changing.” dramatically improve my market with “It cannot be befresh amazing.” grocery store would “A grocery store downtown livingwould local foods would be life changing.” dramatically emphasized enough experience.”improve my “It cannot be be amazing.” downtown living “We need a full how much emphasized enoughwe need experience.” “Full grocery store service grocery a grocery “We need a full how much we needstore.” “Full grocerywithin store walking distance.” service grocery store in the heart of “A true grocery store a grocery store.” within walking distance.” store in the heart ofdowntown.” “A true that wasgrocery within store walking downtown.” that was within walking distance would be a distance would be a godsend for downtown.” godsend for downtown.”

Expanded Dining, Retail Hours and Options “more places to eat on a Sunday or Monday night” “stores open later hours on Friday nights”

“Increasing restaurant/retail hours on the weekends”

“a rooftop bar”

“late night hours for restaurants/take out/stores”

“more eateries open on Sunday”

“A pharmacy with evening and weekend hours would be great.”

“more activities at night after work hours”

“book store, movie theater, bowling alley,-more opportunities to socialize with neighbors”

“more affordable eateries”

“other non-alcohol focused entertainment”

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The Downtown Committee of Syracuse provides augmented support for your business through: Economic Development We make locating and operating in downtown easy by: • Finding potential spaces tailored to your market and your budget • Identifying incentives and grant opportunities • Listing available real estate on DowntownSyracuse.com • Serving as a liaison with the City of Syracuse • Locating available transportation options, including parking • Offering a “Pop Up” retail program, linking entrepreneurs with available storefronts for short-term, below-market, limited-risk lease opportunities • Transforming downtown’s landscape through urban planning and placemaking initiatives • Tracking and continuously updating information, including: • Downtown Syracuse demographics • Semi-Annual Office and Retail Reports detailing market trends • Databases of all downtown businesses, retail and properties • Investment totals in downtown property and redevelopment • Gaps and opportunities in the downtown market, published in our “Retail Wish List”

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Marketing & Communications We welcome new retail businesses, restaurants and cultural institutions to downtown by: • Assembling Welcome Packages introducing Committee offerings and programs • Listing your business on DowntownSyracuse.com • Customizing Welcome and Orientation programs for new downtown employers • Coordinating promotions with downtown shops, restaurants and cultural institutions • Generating media coverage through press releases, media advisories and interviews

We promote your business opening, new program or event by: • Producing weekly news and events electronic newsletters (reaching 8,000+ people) • Producing informative publications including the Annual Report, Housing, Restaurant, Retail, Parking, Historic Walking Tour and Public Art brochures (all available online) • Maintaining and continuously updating DowntownSyracuse.com and all Downtown Syracuse social media accounts (reaching 20,000+ people) • Providing support to Neighborhood and Business Associations

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Environmental Maintenance We ensure Downtown Syracuse is attractive, clean and accessible by providing the following services: • Daily litter patrol • Street furniture repair and replacement • Sidewalk snow clearing assistance • Mowing grass, cutting weeds, trimming hedges, maintaining trees • Streetscape maintenance such as flushing sidewalks and removing graffiti • Beautification programs such as installing seasonal flower baskets and holiday decorations

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Security

We maintain downtown’s status as a safe neighborhood through: • Patrolling downtown seven days a week • Operating a Downtown Security and & Information Center • Staffing calls to the dedicated Downtown Security Line (315-423-HELP) • Installing and maintaining security cameras • Offering security audits for downtown businesses • Serving as a liaison between the business community and the Syracuse Police Department • Distributing security information to downtown businesses and residents • Holding personal safety seminars for downtown residents and employees • Proactively addressing quality of life concerns through a Downtown Task Force which improves the outreach of social service providers

Information at your fingertips! Visit DowntownSyracuse.com for more information and learn how you can get involved.

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We

Downtown Syracuse!

Downtown Committee of Syracuse, Inc. 115 West Fayette Street Syracuse, NY 13202 (315) 422-8284 mail@downtownsyracuse.com

WhyDowntownSyracuse.com

Be Downtown Syracuse Retail Recruitment  

Publication includes retail recruitment and demographic information about Downtown Syracuse.

Be Downtown Syracuse Retail Recruitment  

Publication includes retail recruitment and demographic information about Downtown Syracuse.

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