PACNY is pleased to present the Preservation Merit Award in recognition of exceptional achievement in historic preservation to the Grange Building.

The Grange Building at 203 East Water Street in Syracuse was built in 1925 and was originally home to an auto dealership.  The property is a four-story, brown brick commercial building that was listed on the National Registry for Historic Places in 1976 as part of Downtown Syracuse’s Hanover Square Historic District.  Due to Hanover Square’s position on the Erie Canal, the area has historically been a commercial center for the City of Syracuse.

In 2011, Grange Realty Associates, LLC purchased the property and undertook to rehabilitate the vacant building.    A significant challenge in the adaptive reuse of the building was the addition of a fire escape off the north side of the building.  The Grange Building fire escape was the first allowed in the City of Syracuse in 50 years and is a good example of appropriate design solutions to accommodate contemporary safety requirements while maintaining the integrity of a historic property.

The building was completed in December, 2012 and features three high end luxury apartment units and a prime first floor retail location.  The apartments are 1500 square feet, feature two bedrooms, two baths, stainless steel appliances, gas fireplaces, and beautiful wood floors.  The apartments all provide an outstanding view of historic Hanover Square.

PACNY commends Grange Realty Associates, LLC and Open Atelier Architects for exceptional achievement in historic preservation for adaptive reuse of the Grange Building.

Historic Grange Building and view

Interior features

PACNY is pleased to present the Preservation Merit Award in recognition of exceptional achievement in historic preservation to First Niagara Bank.

Founded in 1870, First Niagara Bank is one of Central New York’s larger banking institutions, with numerous branches, offices and ATMs located throughout Upstate New York, Pennsylvania, Connecticut, and Massachusetts.  First Niagara has a very active commercial lending department, proving construction and permanent lending to a wide range of real estate projects, including some of our region’s most recognized historic rehabilitation projects.  Federal and New York State rehabilitation tax credits have played a critical role in making these projects work.

First Niagara Bank is the only financial institution in Central New York who serves as a tax credit investor. The bank recently invested in both the Pike Block project on South Salina Street and the St. Patrick’s Lofts project in the Tipperary Hill neighborhood.  They are also serving as the construction lender for the St. Patrick’s Lofts project.

Finding a tax credit investor is very challenging, made more difficult by the complicated way that the NYS tax credit program is structured. Many potential historic rehabilitation projects in our region remain stalled because of the inability to find a tax credit investor.  First Niagara Bank’s decision to become the tax credit investor for these two important projects demonstrates both good business sense and laudable commitment to our community.

PACNY offers our appreciation and endorsement of First Niagara Bank’s contributions and investments toward restoring the historic legacy of our region.