ALBANY, N.Y. (WSYR-TV) — Governor Hochul announced Wednesday that Syracuse will receive $10 million in funding as one of the CNY region winners of the fifth round of the Downtown Revitalization Initiative (DRI).
As part of the fifth round, each of New York’s 10 regional economic development regions are being awarded $20 million, for a total state commitment of $200 million in funding and investments, according to the governor.
“I’m proud to have secured this funding to improve the South Gateway District and make Syracuse a more walkable and vibrant city.” says Governor Hochul. Past initiatives include the Salt City Market and the restoration of Hotel Syracuse. These have led to increased business for Syracuse.
With an influx of younger residents, Syracuse seeks to use the funding to expand the South and West of the Central Business District into an urban and walkable part of the city. According to the governor’s office, the Southwest Gateway District is poised to become a growing downtown community with seamless connections to the residential neighborhoods towards the South and West.
Lieutenant Governor Brian Benjamin said, “Syracuse is a beautiful and historical city, and now thanks to the Downtown Revitalization Initiative, it will be able to expand their vibrant downtown to the South and West of the Central Business District into an urban, walkable part of the city.”