Gov. Cuomo Announces New $18 Million Hotel Project For Inner Harbor Development

Gov. Andrew Cuomo on Thursday at the Syracuse Inner Harbor, where he announced the construction of an $18 million hotel. (David Lassman | dlassman@syracuse.com)

Gov. Andrew Cuomo on Thursday at the Syracuse Inner Harbor, where he announced the construction of an $18 million hotel. (David Lassman | dlassman@syracuse.com)

The Governor announced plans for Starwood Hotels and Resorts, the owner of Sheraton and other hotel brands, to establish an Aloft Hotel at the southern edge of the Inner Harbor.

According to both John Salvatore, director of development for Starwood and Steve Aiello, the President of COR Development, that the hotel would be developed with no public funds, but will use commercial loans and private equity. COR Development will end up owning the hotel as a franchisee–but hire a Starwood-approved management company. No word on the number of proposed jobs.

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