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SYRACUSE, N.Y. -- Part of a group of apartment buildings, abandoned by their owner and handed over to the federal Housing and Urban Development Department, are nearing a new life.
The nine buildings were the subject of HUD auctions, but there were no takers. When the City of Syracuse stepped in, it was able to sell the buildings to private developers, including Conifer Realty.
Conifer has bought four of the structures and has launched a $13 million rehabilitation program, designed to create about 90 homes for working families in the city.
“Conifer's mission with this revitalization goes beyond the bricks and sticks. For us, it's about being a good neighbor. And being a good neighbor to us means providing safe, decent, affordable housing for community residents so they can stay here in this neighborhood and call it home,” said Timothy Fournier, Conifer Realty President.
The company hopes to have the projects open for use in about a year.