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Mayor Walsh Announces Hanover Real Estate Development as Selected Developer of Historic City Hall Commons Building

City Offices at City Hall Commons will relocate to One Park Place in 2023

Syracuse, N.Y. – Syracuse Mayor Ben Walsh announced the selection of Hanover Real Estate Development to purchase and redevelop City Hall Commons. The selection was made following a request for proposals that was issued late 2021 to identify a qualified development entity to purchase and rehabilitate the historic flatiron style building. The proposal from Hanover Real Estate Development will result in a mixed-use redevelopment, converting the upper floors into affordable and market rate apartments. The ground level will be converted into commercial space such as retail and restaurant use.

Hanover Real Estate Development team, comprised of co-founders Adam Fumarola and Luke Esposito, has years of experience and expertise rehabilitating vacant and underused properties throughout the City. The company has particular emphasis on Hanover Square and already has several projects underway just one block away along Water Street.

“The team at Hanover Real Estate Development has a clear commitment to Syracuse and enhancing our city, focused on ensuring that all residents are included in the revitalization of downtown both in housing options and business opportunities,” said Mayor Walsh. “I look forward to working with their team, our colleagues at the Department of Neighborhood and Business Development and Common Council to develop the formal plans for this project in the coming weeks and months.”

“Hanover Real Estate Development really formed out of a vision for Syracuse and its residents; a city which is welcoming to all those who wish to call it home. Real estate development is a large part of that, and we believe it is critical that all its forms are focused on leaving a positive impact on the community at large,” said Fumarola. “As part of helping Syracuse to achieve its full potential, we wanted to play a role in preserving the historical nature of City Hall Commons and really make it a place Syracuse residents and visitors alike are able to live, play, work and visit to experience a space designed with everyone in mind.”

One Park Place

The development team will now begin working on formal construction drawings and development plans on the City Hall Commons site. The purchase price of the property is $850,000 and in total, development is projected to cost approximately $13.2 million. This sale better serves constituents and enhances Downtown resources by putting the Commons back on the tax roll and achieving a higher and better use for the surrounding neighborhood. Formal sale of the building will require Common Council approval, which is expected for a vote early next year.

During the search for a developer for City Hall Commons, the City also sought new office space to move offices currently operating out of the Commons. After a comprehensive RFP process, the City selected One Park Place at the corner of East Fayette Street and South State Street located approximately two blocks southeast from City Hall. The Common Council authorized the lease earlier this year.

City offices moving from City Hall Commons to One Park Place include Neighborhood and Business Development, Code Enforcement, the Central Permit Office, Fire Prevention and the Syracuse Police Office of Professional Standards. The move saves taxpayer dollars and creates better access for constituents with better parking and a convenient location between the Public Safety Building, County offices and City Hall.


 

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