SIDA approves $1.7M in mortgage, sales tax breaks for NYNEX building

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The Syracuse Industrial Development Agency has approved at least $1.7 million in mortgage and sales tax breaks – as well property tax breaks – to help re-develop the old NYNEX building in Downtown Syracuse.

The 10-story building on Washington Street across from city hall has been vacant for more than 20 years.

The nearly $43-million project will turn the first three floors into retail space, with one to three bedroom apartments on the upper floors.

The project will also include a low-income component.

Site cleanup and interior demolition has already been completed.
 

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