COR Development Projects Included In 2 Separate Region’s Economic Development PlansPosted: October 30, 2013
COR Development projects in both Syracuse and Watertown were recently included in the submissions by the Regional Economic Development Councils of both Central New York and the North Country for the third round of Gov. Andrew Cuomo’s regional council competition for state grants and tax credits for jobs-producing development projects.
The project to convert the old Mercy Hospital in Watertown into apartments, offices and shops is seeking a $5 million in state funding. The project is slated to create over 400 jobs over five years.
The $350 million COR Development project to redevelop the Inner Harbor in Syracuse is seeking a state grant of $1.5 million to relocate an historic freight house, removing three abandoned storage buildings and constructing two 30,000-square-foot mixed-use buildings (each with commercial space on the first floors and 100 apartments on the upper floors).
COR Development has received significant funding for the Inner Harbor development project through the Regional Economic Development Council process since it was initiated by Governor Cuomo: $3 million in 2011 and another $1.5 million in 2012.