MAYOR PALMIERI ANNOUNCES MAJOR SALE OF URBAN RENEWAL PROPERTY IN HISTORIC BAGGS SQUARE

Property Will Be Developed For $13 Million Market Rate Housing Project

Mayor Robert Palmieri today announced the sale of all remaining Urban Renewal Agency (URA) property located on Whitesboro Street in Baggs Square near the Utica Memorial Auditorium to MSP Realty, LLC, contingent upon approval from the URA and the Common Council.

The land was sold for just under $500,000 and will be developed by Purcell Construction Corp. and Riedman Development. The proposal calls for the construction of a $13 million market rate housing project which will consist of 129 units.

Four years ago, the City owned several acres of land in Baggs Square, as well as, the former Cosmopolitan Center, Dickie Frank Building and ConMed Building.

All three buildings were sold to reputable private developers. The former Cosmopolitan Center is now Tony's AUDelicious, while the former Dickie Frank Building is now A & P Master Images and the ConMed Building is being developed into lofts and retail space.

With today’s announcement, the City has sold all of its previously owned property in Baggs Square.   The sale of the Whitesboro Street property also marks the 11th major commercial property the City of Utica has sold to private developers in the past four years, eight of which are located in the downtown/Baggs Square corridor.

Whitesboro Street Property (Sold to MSP Realty, LLC)

• 167 Genesee Street (former Rite Aid Building, sold to Tony and Frank Cristiano)
• 520 Seneca Street (former HSBC Building, now Landmarc Building)
• 181 Genesee Street (former Harza Building, now Clark City Center)
• 310 Broad Street (former ConMed Building sold to Baggs Square Partners, LLC & Crane-Ballou)
• 205 Water Street (former Dickie Frank Building, now A & P Master Images)
• 470 Whitesboro Street (former Cosmopolitan Center, now Tony's AUDelicious Deli & Sports Bar)
• 171 Genesee Street (Former Catholic Book Store Building, sold to Foster-Martin)

The City has successfully marketed and sold over 300 commercial and residential properties to private developers which has created jobs, generated millions of dollars in private investment and expanded the tax base by nearly $9 million last year alone.

Mayor Palmieri stated, “Utica is truly a City on the rise. By working together, we are revitalizing our City and with today’s announcement we will see continued investment and transformation.”  

Purcell Construction Corp. Business Development Director, Rick Gefell stated, “We are excited to be part of the urban revitalization and future growth in the City of Utica.   Our project mirrors the national trend of people who desire to live, work and play in urban areas.  This market rate housing development will provide a new maintenance free residential option and will be a great housing option for the City of Utica’s future economic development efforts.”