Governor Hochul Announces Start of Construction on $55 Million Mixed-Use Housing Project in Syracuse

Governor Kathy Hochul today announced the start of construction on a $55 million affordable and supportive housing project in Syracuse. The project will convert the historic four-building Moyer Factory complex into 128 apartments and commercial space on the ground floor, with 50 houses reserved for individuals and families in need of support services.

“As we strive to make New York City more equitable and inclusive, it’s critical that we provide all New Yorkers with access to affordable housing and the support services they need to thrive,” Governor Hochul said. “Investing in the redevelopment of vacant and underutilized historic buildings across the state is critical to the revitalization and growth of cities like Syracuse. We will continue to address the housing crisis by prioritizing projects like Moyer Carriage Lofts that enhance residents’ lives and empower neighborhoods.

The Moyer Carriage Lofts project is part of Governor Hochul’s statewide plan to make housing more affordable, equitable and stable. In the recently enacted State Budget, the Governor successfully secured a new five-year, $25 billion comprehensive housing plan that will increase housing supply by creating or preserving 100,000 affordable homes in New York City, including 10,000 with support services for vulnerable populations, plus the electrification of 50,000 additional homes.

The development involves the adaptive reuse of the historic Moyer Factory complex to create 128 apartments and 3,670 square feet of retail space. Four interconnected buildings will undergo gut rehabilitation, but exterior architectural details will remain intact. The project marks a historic transformation for the Moyer Factory complex, built in 1881 but vacant since 2005.

All apartments will be affordable for households with an income equal to or less than 60% of the region’s median income. 50 apartments will be designated as support units, where residents will have access to on-site services funded by the Empire State Supportive Housing Initiative and administered by the New York State Office of Mental Health. Support services will include counseling and case management.

Residential facilities will include a private landscaped courtyard, laundry room, secure entry community hall, program offices and off-street parking.

State funding includes $3.6 million in permanent tax-exempt bonds, federal low-income housing tax credits that will generate $18.2 million in equity and $10.7 million in dollars in grants from New York State Homes and Community Renewal. The New York State Office of Parks, Recreation and Historic Preservation has facilitated the use of federal and state historic tax credits that will generate nearly $12 million in equity. Additionally, the site participated in the success of the Department of Environmental Conservation’s Brownfields Cleanup Program and became eligible for $6.4 million in tax credits upon project completion. The New York State Office of Mental Health manages more than $1.2 million in annual operating funding for the 50 support units. The City of Syracuse also donated $500,000 in HOME funds.

The development team is a joint venture between Housing Visions and Redev CNY LLC.

Housing and Community Renewal Commissioner RuthAnne Visnauskas said“The Moyer Carriage Lofts is an investment in the future of the North Side of Syracuse and the individuals and families who call this neighborhood home. The 128-unit, $55 million complex opens a terrific new chapter in this campus’ long history. Thank you to Housing Visions and Redev CNY for helping us breathe new life into these historic buildings and bring much needed affordable housing to this community.”

Dr. Ann Sullivan, commissioner of the Office of Mental Health, said: “A stable living environment is essential to the recovery process. Studies have shown that housing instability is one of the social, economic and environmental factors that can shape a person’s physical and mental health. The Moyer Project Carriage Lofts is another example of Governor Hochul’s commitment to supportive housing and creating collaborations between government, nonprofits and businesses to address the urgent need for housing and build resources in mental health in our communities.”

Erik Kulleseid, Commissioner of the Office of Parks, Recreation and Historic Preservation, said: “The Moyer Carriage Lofts project is another great example of how historic preservation breathes new life into cities like Syracuse. local economies, create quality affordable housing, promote sustainability and preserve the heritage of our cities and towns.”

Senator Chuck Schumer said: “Every Syracuse resident deserves access to safe, affordable housing, and I’m proud that the federal low-income housing tax credit, which I fought to extend, and federal tax credits have provided the millions needed to convert these vacant and underutilized historic buildings into hundreds of new affordable housing units. I applaud Governor Hochul for this essential push on affordable housing, and I will continue to fight to secure every dollar of federal support needed to help lay the foundation for a better and more equitable future for all of Syracuse.

State Senator John W. Mannion said: “The Moyer Carriage Lofts will provide the much-needed affordable, achievable and accessible housing that has long been absent from central New York and across the state. The need for innovative housing solutions has never been greater. and the Moyer Carriage Lofts will be an expansive solution that will benefit many individuals and families.”

Assemblyman William Magnarelli said: “Rehabilitating buildings in our community not only creates better housing options, but has also increased the value of our neighborhoods. Housing Visions, which works with local community organizations, reflects Central New York’s commitment to revitalization. This approach benefits the surrounding neighborhood and those in need of specialized housing.”

Onondaga County Executive Ryan McMahon said: “Creating affordable housing that also offers full services is a critical need in our community and this project is a big step forward in meeting that need. Thank you to all the partners who made this project a reality.

Mayor Ben Walsh said: “This project resurrects an iconic building on the North Side to benefit the neighborhood and our entire community. More importantly, it helps close the critical gap in affordable and safe housing that exists in the city of Syracuse. this project will also generate greater interest and investment in this important corridor, which is located between Destiny USA, the regional market, Washington Square and North Salina Street. I thank Governor Hochul, Housing Visions and Redev CNY for investing in this area and appreciate the tremendous support and cooperation between our state partners in housing, environment, historic preservation and mental health.

Housing Visions Unlimited, Inc. President and CEO Ben Lockwood said“Housing Visions is thrilled to partner with our local team to undertake this high-impact development at Moyer Carriage Lofts. The project preserves an important piece of Syracuse’s history, provides high quality development on the North Side and will residents in the best apartments Syracuse has to offer.”

Ryan Benz, Managing Member of Redev CNY, LLC, said: “We believe this project will be a catalyst for positive change in the community, while providing safe and affordable housing for those who need it most. The CNY of tomorrow must be inclusive and affordable; and Moyer Carriage Lofts will be one of them. ‘one of many examples of equitable opportunities for all.’

Acceleration of the rise of the CNY

Today’s announcement complements “CNY Rising,” the region’s comprehensive plan to generate robust economic growth and community development. The regionally designed plan focuses on capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. Today, the region is accelerating CNY Rising with a $500 million investment from the state through the Upstate Revitalization Initiative. The state’s $500 million investment will spur private businesses to invest well over $2.5 billion — and the region’s plan, as submitted, calls for up to 5,900 new jobs. More information is available here.