Washington D.C.- U.S. Senator Kirsten Gillibrand today brought Economic Development Administration (EDA) officials to tour and meet with project stakeholders on the $350 million redevelopment project of Syracuse’s inner harbor. The project would create a mixed use community that focuses on increasing public access to the waterfront, and developing 1.4 million occupied squared feet to be used by Syracuse University, Onondaga Community College, as well as creating 8,194 short-term jobs and 4,358 sustained jobs for the region. Senator Gillibrand is committed to working with Syracuse and the EDA on this long term investment to clean up the inner harbor to allow for residential and commercial development.
“Redeveloping Syracuse’s inner harbor would have a tremendous impact on the Central New York economy,” Senator Gillibrand said. “With support from the local community, this project is ready to start, and can help create new construction jobs right away, and help attract new businesses and support new jobs, and new economic vitality for years to come. I will continue to work with stakeholders to make this project a reality.”
Syracuse Mayor Stephanie A. Miner said, “My administration has made the development of the Inner Harbor a key priority. I am very pleased that we are on our way to creating a mixed use facility that will connect Armory Square, Franklin Square, the Lakefront and beyond to attract people from all over our region. Today marks another step in the right direction as representatives from the Economic Development Administration met with local stakeholders at the Inner Harbor to discuss ways to work together on this exciting project.”
“We are very excited to have met with representatives from the Economic Development Administration today to continue the momentum going on the Inner Harbor Project,” said Steven Aiello, President COR Development Company. “COR is committed to developing this area for residential, commercial and higher education purposes and with the help of all of our government partners, the City of Syracuse, the County of Onondaga, the State of New York and Senator Gillibrand and other Federal Officials we are in a great position as we begin this project.”
David Bottar, Central New York Regional Planning and Development Board Executive Director, said, “The proposed Inner Harbor project has the potential to transform the Syracuse Lakefront community and will strongly support the growth of the economy in Central New York and we are looking forward to working with the various stakeholders to help make this project a reality. We are pleased to see that Senator Gillibrand has made this redevelopment project a priority and has engaged the EDA in moving the project forward.”
The current redevelopment plans would create 1.4 million occupied square-feet, which would include a satellite campus for Onondaga Community College, community rowing facility with Syracuse University, and a 100-room hotel and banquet facility that will partner with Onondaga Community College’s Center of Excellence in Hospitality to help prepare the regional workforce for growing needs in the sector. The facility would also feature 120,000 square-feet of office space, 229,000 square-feet of retail shops and restaurants, 432 affordable apartments, 80 townhomes, a Syracuse University community tennis center, and a 750 car parking garage.
It is estimated that the project, financed through a public-private partnership, would have a short-term economic impact of $570 million, and create more than 8,000 temporary jobs. In the long-term, it is estimated that the project could generate up to nearly $260 million in total annual output, and sustain more than 4,300 jobs. Estimates for annual retail sales could be up to approximately $90 million, and as much as $140 million annually once the project is fully operational.