ProgressCNY 2014
A Mid-Year Report
An Eagle Newspapers publication.
July 23, 2014
Stories from the businesses, industries and issues that impact the Central New York economy
Hotel upgrade
Up in arms
Syracuse landmark to regain its luster By Tami Scott editor@baldwinsvillemessenger.com
I
t’s been 10 years since the most celebrated hotel in Syracuse closed, and today, it’s being primed to shine again. City of Syracuse Mayor Stephanie Miner announced last week the Syracuse Industrial Development Agency
took possession of the historic Hotel Syracuse through eminent domain, and later the same day transferred the title to Syracuse Community Hotel Restoration Co. LLC, led by developer Ed Riley. The company is proposing a $57 million renovation to include 261 full-service rooms, which will create approximately 180 full-time jobs. Riley’s current focus is on finalizing
its financing package for the project and expects to begin stabilization work immediately to prevent any further deterioration of the property, according to the July 3 press release. “Today is a major day for the Hotel Syracuse and the redevelopment of Downtown,” Miner said July 3. “There is much work left to be done to make this long-held dream of many into a
reality, but this is a big step in a major transformation. I commend Ed Riley and his team for their effort.” David Holder, president of the Syracuse Visitors and Convention Bureau, said having a viable Hotel Syracuse again will have a significant impact on the city, both economically and collectively.
The construction of I-81 really began with the See I-81, page 6
See Destiny USA, page 7
See Hotel Syracuse, page 4
The Hotel Syracuse was built in 1924. Located at 500 S. Warren St., it closed in 2004 due to financial setbacks. It is due to make a revival with developer Ed Riley at the helm.
The great highway conundrum By Sarah Hall editor@eaglestarreview.com
Within the next five years, the Syracuse city skyline could look very different. The Interstate 81 viaduct, a 1.4-mile section of the highway bridge south of downtown, is nearing the end of its useful life. The New York State Department of Transportation is looking to replace it, but they’re
not sure what that replacement will look like. “Bridges are designed to last for a certain period of time,” said Beau Duffy, public information officer for the NYS DOT. “The I-81 viaduct in Syracuse is reaching this point in time. Because repair and refurbishment of the bridge involves a significant investment, it makes sense, from a costbenefit perspective, to look at potential alternatives for the future of the corridor.” Whatever alternative is chosen, it needs to be done quickly — the state wants to begin construction in
By Russ Tarby
Independent restaurateurs across Central New York have endured losses of between 10 and 30 percent since 2012 when Pyramid Cos. Destiny USA mall began signing up big-name food franchises such as Cantina Laredo, Cheesecake Factory, Gordon Biersch, Texas de Brazil, Toby Keith’s and World of Beer. The indies – including longtime local landmarks like Barbagallo’s, Grimaldi’s and Mohegan Manor – don’t mind the competition so much. They know that’s the way of the world, but they do mind the fact that the Pyramid Cos. have received major tax breaks for its Carousel Center mall and its expanded version known as Destiny USA. Joey’s Italian Restaurant owner Joey DeCuffa said business at his East Syracuse location has plummeted by 20 percent since the Destiny expansion two years ago. “Destiny is occupied solely by chains and nationally based corporations, their proceeds leave the area,” DeCuffa said. That makes the breaks given to Destiny have “an even harsher impact for not contributing to the local economy. Our region has many more pressing needs than to give these sort of incentives without some return.” Such concerns and the resulting loss of business prompted local independent restaurant owners to convene a meeting with two prominent Destiny USA critics – Syracuse Mayor Stephanie Miner and state Sen. John DeFrancisco – on June 26 at the Ramada Inn in the town of Salina. More than a dozen local businesses were represented, and about 60 people attended. Miner, who’s a Democrat, pointed out that she and DeFrancisco, who’s a Republican, “have a long and storied history with Carousel Center and Destiny, and we’ve both taken a lot of punches over our stances.” She had opposed tax breaks for the mall because “taxes pay for roads and water mains and infrastructure and for services from the fire department, police and DPW, although the largest share of property taxes goes to the school
Tim Scott
Route 81 must be revamped, but how?
As profits dwindle, local restauranteurs object to Destiny USA tax breaks
2017 and it will likely take several years. “If this isn’t taken care of, it’s going to be a tangled mess. They are going to do something,” said Onondaga County Legislator Kathy Rapp, who represents the fifth district (portions of the towns of Salina and DeWitt). “It’s not often we have to make a 100-year decision,” she said. “This will shape our community for the next 100 years.”
Birth of an interstate
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