Connections and Expertise Support Transformational Downtown Project - City Center
Posted on November 10, 2022
A highly visible redevelopment project at one of downtown Syracuse’s prime but long neglected intersections has benefited from the expertise, connections and direct support from CenterState CEO. CEO members Hayner Hoyt, HII, Tompkins Community Bank and CXtec Inc., among others, are part of the transformation of City Center, at the prominent cross sections of South Salina, West Jefferson and South Clinton streets. The 180,000 square-foot redevelopment infuses a multi-million dollar investment from the developer and tenants into downtown.
As the lead developer on the project, Hayner Hoyt’s $40 million investment at City Center is bringing new companies, residents and renewed vibrancy to the core of downtown. CenterState CEO helped Hayner navigate unique grant challenges and opportunities, allowing for incentives to remain in place until the project was able to commence, and facilitated connections for commercial tenants. Upon the project’s completion, Hayner Hoyt plans to move into 20,000 square-feet in the building as an anchor tenant.
Huntington Ingalls Industries (HII), a global engineering and defense technologies provider, announced in 2022 it will be among City Center’s anchor tenants, occupying 50,000 squarefeet of renovated space, and investing $5.5 million. With the move, the company has committed to creating more than 80 new jobs. CenterState CEO advocated with ESD for state incentives that would catalyze the company’s growth and support its move downtown. HII also looked to CEO for support to raise its profile in the community. CEO has helped HII make connections to other members and to opportunities for greater visibility in the community. HII will be operational in the new space in early 2023.
In 2016, Tompkins Community Bank opened its first Onondaga County location in Dewitt. As part of its efforts to grow and serve clients in Central New York, Tompkins has consistently utilized its membership and the CenterState CEO network to make direct connections and increase brand awareness through sponsorships. Given its success and growth in the Syracuse market to date, Tompkins will open a new office and branch downtown in City Center in early 2023. Tompkins also played a key role in the project as part of the lending team that enabled financing for Haynor Hoyt.
Additionally, technology hardware company CXtec Inc. announced plans to take 31,000 square feet of space in City Center. CEO provided assistance with ESD and helped the company as it evaluated options for new space, ultimately settling on City Center. It will move its headquarters and 100 jobs to downtown Syracuse from the suburbs, with plans for further job growth.
CenterState CEO organizational partner Downtown Committee of Syracuse has also played an integral role in supporting this project. Their partnership was instrumental in efforts to build connections to ensure this transformational project for downtown.
All told, the long vacant property will now welcome more than 350 employees to Syracuse’s main street, creating new energy and adding to downtown’s resurgence. The new commercial tenants have expressed that they expect the downtown location will help them recruit and retain talent.
CEO in Action
CEO in Action | 09/07/2022
Rosie Acquired by Instacart, Doubling Down on Technology Solutions for Independently Owned and Locally Operated Grocers
Acquisition brings Rosie’s e-commerce platform and team of experts to Instacart, giving local independent grocers access to a broader range of technology and fulfillment capabilities to grow their businesses.