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Syracuse IDA approves tax exemptions for conversion of former Post-Standard space at 101 North Salina into 72 apartments
Summary
The Syracuse Industrial Development Agency approved SEQR negative declaration and a package of inducement, pilot and final approvals to support a two-phase conversion of industrial space at 101 North Salina into about 72 apartments, including a 10% affordability set-aside and sales and mortgage tax exemptions capped at specified amounts.
The Syracuse Industrial Development Agency voted to approve financial assistance and related agreements for a project to convert roughly 44,000 square feet of vacant space within a larger building at 101 North Salina Street into about 72 apartments.
The project, proposed by 101 North Salina Street LLC, would create approximately 66 one-bedroom units and six two-bedroom units, with roughly 10% of units reserved for tenants meeting the City of Syracuse affordability requirements, and would include infrastructure upgrades and amenities such as a fitness center, bicycle and tenant storage, on-site parking and a community room.
Agency staff presented a SEQR (environmental review) package and recommended a negative declaration, saying the company completed a full Environmental Assessment Form and the agency determined the project will not have a significant environmental impact. The Board…
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