City seizes Hotel Syracuse through eminent domain
“The City of Syracuse has used legal channels to take control of the Hotel Syracuse after several efforts to redevelop the historic downtown lodging site have failed.
Syracuse and its economic development arm, the Syracuse Industrial Development Agency, transferred title of the property to the site’s developer, Ed Riley.
“Today is a major day for the Hotel Syracuse and the redevelopment of downtown,” said Syracuse Mayor Stephanie Miner in a statement. “There is much work left to be done to make this long-held dream of many into a reality, but this is a big step in a major transformation. I commend Ed Riley and his team for their effort.”
Riley’s company, Syracuse Community Hotel Restoration Company, wants to redevelop the hotel into a 261-room full service hotel. The project is expected to cost $57 million, according to the city.”
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Delaney, Ryan. WRVO 3 July 2014.