A Syracuse apartment complex that was filled with code violations and criminal activity is on the road to a rebirth. And investors hope it can elevate the whole neighborhood.
A walk around one of the former Ballentyne Apartments in the city’s valley section, with The Cortile Spokesperson Abraham Goldstein, shed light on what new downstate investors faced. “45% of the apartments were full of stuff, which people left behind.” In some cases, that garbage sat around a year or longer as apartments sat vacant. “It was rotten, there was really bad situation. To get that cleaned up was a big deal, a big task.”
Goldstein added says that’s on top of plumbing problems, broken windows and squatters that took months to evict.
This is a big complex, 4 buildings, 140 units, many empty. The developers moved existing tenants into one building after fixing code and other problems. Then, they had the task of changing the perception of the property.
“We put in fencing, we put in security cameras, we put in security guards,” said Goldstein. “This place now, crime (by) our statistics, is like less than 10% (of what it was) a year ago. So, we addressed that part. The vision going forward is that the city of Syracuse deserves a nice area for people that want to live that lifestyle to have.”
The renovation is going one building at a time, redoing wood floors, adding stainless steel appliances, expensive doors and trim. And Goldstein knows they have to convince the target clientele, “professional working people that are willing to come to a gated area where your car is safe, your kids are safe, everything, it's a safe environment with all the amenities, then we could take it up a notch to the next building.”
Longer-term plans for some of the other buildings would include gyms, a spa room, work spaces, and enhanced grounds between all the buildings. They believe stabilizing the property and adding security has already made a difference, and can impact the entire neighborhood.
“This property actually was bringing down the entire area. … I could see already who hangs out in the gas stations. From a year ago to now, there's a big change,” said Goldstein, who expects a positive influence if young professionals, medical-field employees and graduate students are willing to move into apartments that were only available in downtown Syracuse projects, where rents are rising and vacancy is low. “It's going to be a transitional change. So that's going to be a ripple effect on the surrounding area also, is our belief.
They now call it The Cortile; investors say the first upscale units could be rented later this summer, hoping the rising tide of the broader area’s growth can raise their boat.
