A ribbon cutting on James Street in Syracuse has marked a turning point for a number of historic buildings that were in danger of becoming endangered eyesores.
Syracuse Mayor Stephanie Miner along with community leaders, public officer holders, and executives with Conifer Reality presided over the ribbon cutting in front of Kasson Place Apartment Building at 1622 James Street.
Conifer is opening Kasson Place along with three other apartment buildings owned by the former Eljay Properties, which were seized by the Federal Department of Housing and Urban Development several years ago.
HUD failed in two attempts to auction of the properties. So the city of Syracuse took them over and sold them to Conifer Reality for a dollar each. Conifer in turn was committed to renovating the buildings in to multifamily housing.
"the rehabilitation of these buildings resulted in the infusion of over $24 Million in construction improvements that will now help revitalize three key neighborhoods in the city," said Andrew Bodewes, Vice President of Conifer Reality.