Project Destiny USA in Syracuse? (New York, Buffalo: mortgage, hotel, buying)

[teebopop]

What is it? How is it going to impact Syracuse? Is it a good thing or a bad thing? In what way? Thanks in advance.

[jjbradleynyc]

Originally Posted by teebopop

What is it? How is it going to impact Syracuse? Is it a good thing or a bad thing? In what way? Thanks in advance.

My understanding is that this project has stalled. My opinion is this: it's a weird location for such a project. A theme-park/office park/residential & retail development seems overly ambitious for the location, being a rust-belt city somewhat on the decline. I could understand the office/residential/retail portion, but the theme park idea is a bit ridiculous for this location. Bad, snow-filled, super cold winters are well-prepared for throughout the region. Unless this thing is indoors, it's a silly waste.
Throw in the sub-prime mortgage debacle--as well as banks limiting their financing on projects in very stable, fast-growing markets such as New York City, Boston, & Chicago--and you've got a stale project at great risk and an "iffy" future.
My recommendation would be to scale back the project to just some mixed-use of residential/office/retail, and try to get ahead that way.

[bellafinzi]

Originally Posted by jjbradleynyc

My understanding is that this project has stalled. My opinion is this: it's a weird location for such a project. A theme-park/office park/residential & retail development seems overly ambitious for the location, being a rust-belt city somewhat on the decline. I could understand the office/residential/retail portion, but the theme park idea is a bit ridiculous for this location. Bad, snow-filled, super cold winters are well-prepared for throughout the region. Unless this thing is indoors, it's a silly waste.
Throw in the sub-prime mortgage debacle--as well as banks limiting their financing on projects in very stable, fast-growing markets such as New York City, Boston, & Chicago--and you've got a stale project at great risk and an "iffy" future.
My recommendation would be to scale back the project to just some mixed-use of residential/office/retail, and try to get ahead that way.

Well, you're "understanding" is wrong. The first phase is under construction.
Syracuse.com

I can understand you saying that the location is weird..... since its located in run-down area of a major Upstate city, NOT IN THE SUBURBS. But if you mean "weird" location as in being located in the general Syracuse area, then you're comments are way off base and insulting. If you don't believe Syracuse is a good location, then essentially what you are saying is that no place in Upstate New York is a good location for a "theme park" development. Syracuse is at the cross roads of two major interstates. Outside of the four major Upstate metros(Buffalo, Rochester, Syracuse Albany), no other area in Upstate could support a "Destiny USA" like project. The population base, infrastructure, hotel rooms, etc are not there. Buffalo, and Rochester are in the same boat as Syracuse. Almost the same winter weather and the same economic climate. The Capital District has half the snow as WNY and CNY, but gets even colder than the other major Upstate cities which have the nearby Great Lakes to moderate extreme low temperatures. I do not see a major advantage of locating a Destiny USA project in the Capital District over Syracuse. Sure it's closer to the East Coast, but do you really think 150 miles matters that much when Edmonton, Canada is way out in the middle of no-where and still manages to attract visitors to it's huge Mall. Syracuse is located at the center of northeast North America....Ottawa just to the north, Toronto to the west, Boston to the east, Washington DC to South etc.

From the sounds of it you know nothing about the "Destiny USA" project. You didn't even know it's an indoor project.

[WILWRadio]

Build it and they will come. Just like the Mall of America and West Edmonton Mall, DestiNYUSA has its own unique set of attractions and should attract people from all over North America. I for one think this is just the catalyst needed to jumpstart the CNY region's economy.

[teebopop]

Thanks for the info. I had seen mention of Destiny USA and how some folks are for or against it. I just wanted to know how it was going to affect moving/buying into an area where Destiny USA was situated.

[a private person]

I'm not certain how to take this project. One thing is for certain, the only way to bolster a local economy is to attract investment and funds from outside of the region. This project will attempt that feat.

I will agree that it is an odd sort of project. Such a facility would not personally appeal to me. But, it does take all kinds and it will likely appeal to someone. Hopefully enough someones to make a difference in the local economy.

I personally hope it is a great success for the area.