201 S. Main Street was originally built in the 1950’s as a 3-story 17,500 s/f office building. Starting in the 1990’s and for several decades the building fell into disrepair and continued through 2014. At that time Syracuse Realty Group organized 201 South Main Street, LLC as an affiliate and commenced with a redevelopment plan for the property.
At the same time the Village of North Syracuse had plans to upgrade sidewalks, roads, street lighting as well as other infrastructure. To coincide with the Village’s efforts Syracuse Realty Group began construction efforts in 2015. The plan was to convert the building into a mixed-use property with 16 apartments and two ground level storefronts. Since the signing of our first tenant at Village Commons we have enjoyed a 100% occupancy rate. The commercial and residential tenants of the property enjoy off street parking, unobstructed views from their apartments and live within walking distance of drug stores, a convenience store, dry cleaning as well as fine and casual dining.
The cost to redevelop this property was $1.65 million and the success of Village Commons 201 along with 106 South Main Street reestablished the Village Center. These two projects made a clear statement that Syracuse Realty Group added value to the community.