Cazenovia, N.Y. -- Two Syracuse developers are bringing their expertise in turning underutilized commercial buildings into upscale apartments to Cazenovia.
T.J. Di Peso of Di Peso Contractors and Grazi Zazzara Jr. of Icon Cos. are turning the former offices of GHD Inc. into 28 apartments, each with a view of the outdoor courtyard in the middle of the building. GHD, an engineering firm, moved its offices to Syracuse in 2020.
Courtyard at Cazenovia at 1 Remington Park Drive will have 13 one-bedroom, one-bath units, and 15 two-bedroom, two-bathroom units. Monthly rents will range from $1,395 to $2,500.
The one-bedroom apartments will range from 685 to 825 square feet, while the two-bedroom units will range from 1,170 to 1,304 square feet. Each apartment will feature granite countertops, stainless steel appliances and its own washer and dryer.
An open house is planned for 11 a.m. to 2 p.m. Sunday, Oct. 9. Pre-leasing has started. The first tenants are scheduled to move in Oct. 15.
The project represents an investment of $6 million by the developers.
Both developers have successfully turned underutilized or vacant commercial buildings in downtown Syracuse into apartments.
Di Peso built 20 apartments in the former Seneca Building, now named the Hudson Building, in Syracuse’s Armory Square in 2020. Di Peso is also developing vacation rentals on Martha’s Vineyard island in Massachusetts and in Orlando, Florida.
Zazzara turned a long-vacant office building at 444 E. Genesee St. in Syracuse into 24 apartment called into Corbett Corner, which opened in the spring.
In 2016, Zazzara built 89 apartments in Icon Tower, the former regional office of Excellus Blue Cross Blue Shield on South Warren Street in the city.
Di Peso and Zazzara bought the former GHD building in 2021. Located about two miles east of the village of Cazenovia, the building is set on a rural, 8-acre site off Route 20.
Di Peso, who grew up in Cazenovia and now lives in Fayetteville, said he was attracted to the building because it is in his hometown.
“I’ve always wanted to develop something here,” he said. “I love Cazenovia.”
He said he was also lured to the site because of its courtyard, a feature not found in many apartment buildings in Central New York. Each apartment will have large windows overlooking it. Plans call for two firepits, seating areas and a gaming area in the courtyard, which will be completed in the spring.
Di Peso and Zazzara estimated the cost of the apartment project at $6 million.
He’s not sure who the typical tenant will be, but he’s thinking young professions, seniors and even families. For people looking for apartments outside the village, there are not a lot of other options, he said.
“We felt there’s a need to fill a void,” said Di Peso.
Rick Moriarty covers business news and consumer issues. Got a tip, comment or story idea? Contact him anytime: Email | Twitter | Facebook | 315-470-3148
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