Children Rising center paused after tax-credit timing and parcel disputes; council urged to separate Eastwood Heights action

The project to build the Children Rising Center at Latimer Terrace is on pause after Blueprint 15 said it cannot close a final new markets tax credit commitment in time to meet an April 1 construction deadline.

Blueprint 15 board member Meg (identified in the meeting as a project lead) told the Syracuse Common Council the organization "cannot fill a $7,000,000 gap" and that "the project is not gonna proceed at this time on the blueprint project." The pause prompted councilors to consider withdrawing or amending multiple agenda items tied to the land-swap and redevelopment plan and to treat Eastwood Heights separately.

The project team and funders had developed a roughly $32,000,000 capital stack for the 78,000-square-foot Children Rising Center, which Blueprint 15 described as including an early-learning childcare center, a YMCA presence, senior space and other neighborhood amenities. The Allen Foundation told the council it had committed $5,000,000 toward the effort. Blueprint 15 said it had identified $25,000,000 in additional commitments and that the remaining gap of roughly $5,500,000 to $7,000,000 depended on new markets tax credit equity.

Syracuse Housing Authority (SHA) officials and the project's developer told council…