Syracuse, N.Y. – A developer plans to turn a historic building in the heart of downtown Syracuse into a mixed-use complex and is seeking tax breaks related to the construction.
Douglas Jemal, principal of Douglas Development, bought the 124-year-old M&T Bank tower and two adjacent buildings on South Salina and Genesee streets for $7.2 million earlier this year after the bank moved its regional offices to a new address in Armory Square.
Now, with that purchase finalized, Jemal’s company has submitted an application to the city to convert the top eight floors of the 10-story building into 121 loft-style studio, one- and two-bedroom apartments.