Real Estate Journal — July 12 - 25, 2019 — 11A


M id A tlantic

M id A tlantic R eal E state J ournal

Adaptive reuse of mixed-use development creates 56 apt. units +17,700 s/f of commercial space CPC & Empire State Development celebrate revitalization of historic building in Utica, NY U

Comptroller DiNapoli and our partners at the State’s Com- mon Retirement Fund, Mayor Palmieri, Empire State Devel- opment, JPMorgan Chase and National Grid.”

As a nonprofit housing fi- nance company with a long history of serving communities throughout New York State, CPC understands the impor- tance of investing in projects that help breathe new life into neighborhoods and which con- nect them with their historic past. Former industrial build- ings like mills, factories, and warehouses, which were once hubs of activity throughout New York can be put back into use as new housing and retail space – again serving as an- chors of activity and economic opportunity for neighborhoods continued on page 14A

TICA, NY — The Community Preser- vation Corporation (CPC) joined New York State Comptroller Thomas DiNapoli, senior advisor to Governor Cuomo for Upstate Economic Development John Maggio- re , Utica Mayor Robert Palm- ieri, the development partners of DoyleHardware Building LLC, Empire State Devel- opment Corporation (EDC) , and other stakeholders for a ribbon cutting to celebrate the opening of the former Doyle Hardware building located at 330 Main St. in Utica. The over $15 million adaptive re- use project has transformed the formerly vacant four-story building, resulting in 56 new market rate apartment units and more than 17,700 s/f of commercial space on the build- ing’s ground floor. “Today marks yet another step forward in the ongoing transformation of Downtown Utica into a true neighborhood. The addition of these 56 loft apartments and the ground- floor commercial space will add a vitality to the Bagg’s Square neighborhood that had previously been lacking. In addition, this project has been a catalyst for other projects in the immediate vicinity that are either already underway or in the planning stages – all contributing to making Utica the best little city. Thank you to State Comptroller Thomas P. DiNapoli, the Community Preservation Corporation, Empire State Development and all of the various project partners for your investment in this project and in the City of Utica,” said Robert Palmieri, Mayor of Utica. "We are pleased to partner with the Community Preserva- tion Corporation to invest in housing at the former Doyle Hardware Building,” said DiNapoli. “As trustee of the state pension fund, I welcome this opportunity for a sound investment for our retirement fund that has also helped reha- bilitate this building.” “Projects like The Doyle, that put our historic buildings back into use as resources of housing and economic op- portunity are critical to the future of cities like Utica,” said Thomas McGrath , se- nior vice president, director of Upstate Revitalization at the Community Preservation Corporation. “My thanks to

The former Doyle Hardware building is a historic site sit- ting on 1.11 acres of land across the St. from Utica’s historic and still operating Union Station. The property, now called The Doyle has been converted into one micro-unit, 15 studio apartments, 26 one- bedroom apartments, two one-bedroom apartments with loft and 12 two-bedroom/two- bathroom apartments. Former Doyle Hardware building located at 330 Main St. in Utica, NY.

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