UPDATED: Sept. 7, 2018 at 1:48 p.m.

Cor Development Co.’s project to revitalize Syracuse’s Inner Harbor will finish within the next 10 years, its CEO said at a Common Council meeting on Wednesday. 

Syracuse awarded Cor a contract in 2012 to build residential and commercial properties on 28 acres surrounding the Onondaga Lake harbor. Cor originally planned to finish the $350 million project in five to seven years. Cor CEO Catherine Johnson said at the meeting that the project will be completed within the next decade “under perfect circumstances.”

The Inner Harbor remained unutilized for decades as Syracuse’s industry declined. But it is located only a few blocks from the city’s economic hubs — Destiny USA, the Central New York Regional Market and Franklin Square.

Johnson made an appearance at Wednesday’s meeting because Cor requires city approval for the installation of a sewage and water main under North Geddes Street, Iron Pier Drive and Salt Shed Drive. Cor will pay for the utility work, but the city will own both lines when they are completed.

The roads will be built in phases as the company completes construction on its planned properties, Johnson said. Cor plans to have two mixed-use apartment buildings ready for occupancy by Oct. 1, she added.

After completing those two buildings, called the Iron Pier Apartments, the company will move onto another two luxury apartments nearby that are expected to be completed in three or four years.

In May, the Onondaga County Industrial Development Agency renewed its contract with Cor, which includes $44.6 million in tax breaks for the company, until 2021, according to Syracuse.com

The previously industrial area will be redeveloped into a mixed-use neighborhood with both residential and commercial properties. The Aloft hotel opened in 2016, but many of Cor’s buildings are still in the planning stage, including office and retail space on the east side of the harbor.

When completed, the waterfront project will include more than 150,000 square feet of retail space and restaurants, as well as office space totaling more than 130,000 square feet, per Cor’s website.

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Councilor returns after medical leave

Common Councilor Chad Ryan, of the 2nd district, attended Wednesday’s meeting after four months of substance abuse treatment in Florida, according to Syracuse.com.

“I hope everyone can understand that I needed to do this for myself for my long-term health. I’m back and I can honestly say I’m better than ever,” Ryan said after the meeting, per Syracuse.com
Council President Helen Hudson removed Ryan as chair of the council’s public works committee in August after he missed several meetings, according to Syracuse.com.  

CORRECTION: In a previous version of this post, the length of the harbor construction project was misstated. The project should be completed within the next 10 years. The Daily Orange regrets this error. 

Published on September 5, 2018 at 9:14 pm

Contact Casey: casey@dailyorange.com | @caseydarnell_