Syracuse Construction Update (Albany, Franklin Square, Franklin: moving to, warehouses, family friendly)
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I find it interesting that the County Legislature can find all this bonding capability for the new academic building (see link) and a new athletic complex, but would not bond the Oncenter Hotel. I am all for the OCC projects and the redevelopment of the Hotel Syracuse, but Syraucse needs a state of the art modern hotel to compete with other cities! Organizations have told the Conventione Bureau that they would come to Syracuse if a new hotel is built, I trust the Hotel Syracuse can bridge that gap until a new hotel is built.
That unfortuantely is the parochial view of members of the county leg. Most probably went to OCC and want to assist their alma mater. I think it is great that OCC is expanding, however the graduates from their programs will have no local job opportunities unless something is done to encourage additional investment and spur private sector development and job growth. It should be interesting to see the design of the "academic building." It was probably done on the cheap by a one person arch firm and is modeled after a stucco restaurant in Solvay. LOL
That unfortuantely is the parochial view of members of the county leg. Most probably went to OCC and want to assist their alma mater. I think it is great that OCC is expanding, however the graduates from their programs will have no local job opportunities unless something is done to encourage additional investment and spur private sector development and job growth. It should be interesting to see the design of the "academic building." It was probably done on the cheap by a one person arch firm and is modeled after a stucco restaurant in Solvay. LOL
RR - I have been watching the news, I see the NYC historic preservation board approved the mosque near ground zero, how is the reaction of New Yorkers? I know Bloomberg wanted it approved.
RR - I have been watching the news, I see the NYC historic preservation board approved the mosque near ground zero, how is the reaction of New Yorkers? I know Bloomberg wanted it approved.
I haven't really discussed it with colleagues. It seems that more people from the suburbs and outer boroughs (ie. Staten Island) are more opposed to it. Many family members of 9-11 victims felt the proposal was a slap in the face and the financing behind the $100 million project has been shrouded in secrecy.
I haven't really discussed it with colleagues. It seems that more people from the suburbs and outer boroughs (ie. Staten Island) are more opposed to it. Many family members of 9-11 victims felt the proposal was a slap in the face and the financing behind the $100 million project has been shrouded in secrecy.
Thanks RR - I was just curious if the media was accurately portraying opposition or support. Sometimes it is better to get the information people who live there (those who not caught up in the drama).
I'm in phaelon's camp about the hotels. Before we start talking about building a skiny new toy for the skyline, I would rather see the Hotel Syracuse renovated and that end of South Salina Street restored before worrying about the other. See how that hotel, which has significantly more capacity than any other hotel downtown, does and then make the call on a big new one.
I'm in phaelon's camp about the hotels. Before we start talking about building a shiny new toy for the skyline, I would rather see the Hotel Syracuse renovated and that end of South Salina Street restored before worrying about the other. See how that hotel, which has significantly more capacity than any other hotel downtown, does and then make the call on a big new one.
Thanks for your isolated vote of support ;-)
I fully agree with others that the cost of a full renovation for the Hotel Syracuse (old structure not the new tower) may well be more than anyone can justify, even with various tax credits and incentives. I await factual information from any and all who can inform us about the success or lack of same on large downtown convention type upscale hotels in Buffalo, Rochester or Albany. I mention those cities because I think they have some similar challenges (although Albany has the golden goose of State Government).
When I say "smart growth" I think of the new Marriott facility in Armory Square (really hoping that comes together), the Hawthorne Suites (former Jefferson-Clinton Hotel adjacent to the Armory), Norm Swanson's conversion of Executive Quarters into the Parkview Hotel, and also his new Hotel Skyler. With a large number of rooms and an upscale posture comes a high daily operational cost - including the need to have things like an on-site restaurant(s). These costs tend to be relatively fixed and require high occupancy rates for success. Smaller properties, such as those mentioned, often have more flexibility and lower fixed overhead - making it easier for them to survive slow periods.
I think the Convention Center Westin might need to achieve average occupancy of 75% or better to succeed, given the high cost of the project. If we draw a dozen new conventions, filling the rooms at 100%, that come to the city every year for five days, and then we fill the rooms to capacity for another five weekends each year... we have 295 days left over. You would need those 295 days per year to average roughly 69.5% occupancy rate in order to have an annual average of 75% total.
A good annual average occupancy rate in central NY hotels is, at present, about 70% and they'd like to be doing better. Small specialty hotels that target their market effectively can have lower overhead per room and also achieve higher occupancy rates without eroding their desired price point.
From a Syracuse Post article about the foreclosure on the Marx/Renaissance:
Quote:
The hotel averaged 69 percent occupancy during 2008, with an average room rate of $125, according to documents filed by Hypo in the foreclosure lawsuit. But occupancy dropped to 50 percent in January 2009 and to 55 percent in February, with room charges averaging $105 and $114 respectively, the lender said.
The owners are said to have spent $19 million on the renovations, had a mortgage of $28 million, and 80% of the assessed value is exempt from property taxes. I've eaten meals in their restaurant, have been in guest rooms there, and have been in the public areas. It's an upscale hotel in reasonably good condition, and Renaissance, although not as well known a brand as Crowne Plaza, is an upscale flag within the Marriott group of brands. The new owners are planning to spend $5 million on various renovations.
Could a 350 room Westin (the Marx/Renaissance is 279 rooms), built at a cost of $90 to $100 million, possibly be profitable enough to survive? I don't know the answer - this is not a baited question. My moderately educated guess is that it couldn't, but I would love to see fact based answers that can dissuade me from this position.
I wouldn't mind seeing a revamped Hotel Syracuse. If Utica can get the Hotel Utica to look like this: Utica, New York Hotels - Hotel Utica I think the Hotel Syracuse can come back as well.
ckhthankgod, right on, and they did it with only 13 million, as opposed to the 60 million allocated for Hotel Syracuse! Bums were squatting in rooms right before they started work on Hotel Utica, so it must have been a mess.
I have not been inside the Hotel Utica, but my company has a satellite office about a block away - from the outside it has all the signs of a class property - beautiful building that was very nicely done when renovated.
The completed creekwalk will permanently change the dynamics between Onondaga Lake, Carousel Center, the Inner-Harbor, Franklin Square and Armory Square coupled with the Connective Corridor to the university hill area. It will be very impressive. If they can identify funding for the second and third phases of the creekwalk to the south, both projects will provide a pedestrian-focused transportation alternative that will connect the entire city without the need of a car (well, most of the city). If Armory Square is growing now, it will certainly explode when these projects are complete.
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