The Syracuse Industrial Development Agency (SIDA) convened on September 16, 2025, to discuss a significant redevelopment project that aims to transform a long-vacant historic building into a residential complex. The meeting featured a public hearing for Swanson Fulton Street LLC, which is seeking to renovate the 83,402 square-foot structure located at 311 Gannett Drive into a mixed-income housing facility.

The proposed project will include 75 apartment units, with 67 designated as market rate and 8 set aside for lower-income residents. The development will also feature various amenities such as a fitness center, outdoor terrace, and ample parking spaces, addressing the community's growing need for affordable housing options. The building, which has been unoccupied for over 25 years, is expected to undergo renovations starting in late 2025, with a projected completion date in early 2027.

Grazi Zizarro, representing the applicant, expressed optimism about the project, highlighting that it has already received approval from the City Planning Commission. The project is anticipated to create jobs and stimulate local economic growth, making it a vital addition to the Syracuse community.

During the meeting, the board also discussed financial assistance for the project, which includes exemptions from real property tax, state and local sales tax, and mortgage recording tax. The total estimated financial benefits for the project amount to over $900,000, which the board approved unanimously.

In addition to the main project discussion, the board reviewed minutes from the previous meeting and confirmed the positive recommendation from the finance committee regarding the Gannett Drive project. The meeting concluded with the board's approval of resolutions necessary for moving forward with the project, reinforcing SIDA's commitment to revitalizing Syracuse's neighborhoods and enhancing housing availability for its residents.

As the project progresses, it is expected to play a crucial role in addressing housing shortages and improving the quality of life for many in the Syracuse area.