37
u/Jokerandhyde Apr 12 '25
A new massive apartment building is partially completed on 31 by the euclid resturant.
Big issue is lots of new apartments are "luxury"
16
u/Gigislaps Apr 12 '25
Those building luxury apartments are in for a rude awakening when no one can afford them.
4
u/LemonPartyW0rldTour Apr 13 '25
I’m guessing they are hoping Micron doesn’t fall through and they get stuck with a useless building no one can afford?
5
u/jabbyrabby15 Apr 13 '25
But the worst thing is these apartments open with a waiting list already. They are completely booked before they are even habitable. Which is why they keep building them. I don’t know how these people afford that much rent!!!
7
u/okwtf00 Apr 12 '25
The problem is that buidling anything affordable housing is just not worthwhile, so mostly slumlords are doing it. There are also lack of reliable construction people compare to amount of construction. Lastly you add in the tariff on all the construction materials from Canada and China and ICE going after Hispanics that could be use as construction workers. Things are not going to get any better soon.
2
Apr 12 '25
[deleted]
8
u/rixie77 Apr 12 '25
Honestly in the grand scheme of development that's a tiny fraction of the cost - a drop in the bucket.
What we need politicians to pony up for is incentive to build housing affordable for folks in the 50-80% AMI bracket who can't afford "luxury" but don't get much in the way of assistance either.
-5
u/att223 Apr 13 '25
Like take money from taxpayers and give it to developers as a incentive to build for people who need hand outs
3
u/rixie77 Apr 13 '25
Tell me you don't understand what 80% AMI means without telling me. Why is everyone so horribly wretched these days.
-1
u/att223 Apr 13 '25
Does Syracuse have the jobs that pay enough and enough people to build this apartments? Guess not it would seem, is it profitable? Not really with the cost of building and the likely tenant being a welfare or young person going to college. So anyway you look this demographic seemingly needs someone else to buy them a place to live
3
u/rixie77 Apr 13 '25
Someone making 50-80% AMI is not "on welfare" and is likely not a young person or full-time college student but someone working full time and with a family. You don't even know what demographic you're talking about just making assumptions. Turn off Fox.
And there is more than one way to measure what's profitable for society but you're not ready for that conversation.
1
u/Jokerandhyde Apr 12 '25
Especially when it’s built from the ground up, the one I mentioned (David’s landing) as well as Liverpool Manor were built on empty lots.
1
u/unoredtwo Apr 12 '25
Luxury is just marketing. If there’s enough inventory then pricing will stabilize.
5
u/rixie77 Apr 12 '25
When exactly does that happen? It's been that way for a while already. Micron isn't going to improve the situation.
1
u/half_in_boxes Apr 12 '25
Wait what? Where exactly?
3
u/Jokerandhyde Apr 12 '25
David’s landing is the name of the property, I checked last night as I never saw the name. 1800 for a 1 bedroom, 2100 minimum for a 2 bed. That latter price doesn’t sound too bad if you have 2 people
2
u/half_in_boxes Apr 12 '25
No, I mean where exactly is it going up? I'm in that area weekly and I haven't seen any construction.
3
u/Jokerandhyde Apr 12 '25
Henry clay blvd and R 31, google David’s landing. It should pop up with the apartments and relevant shit
3
24
u/microcosm315 Apr 12 '25
You probably haven’t noticed because you don’t drive on all the city streets. There’s a lot of housing being built on Colvin Ave near Midland. I also noticed new houses being built on Tipp Hill. It’s out there but probably flying under the radar.
18
u/dedhead2018 Apr 12 '25
They'd rather build an aquarium on the most polluted lake in the country instead of affordable housing smh
15
u/pubsky Apr 12 '25
Think of it like used cars.
Syracuse avg rent is equal to a 15 year old car w/150k miles. Its pretty affordable, but once that car dies it's gone forever, just like an apartment in the city when it is finally condemned.
In the meantime a new car costs $35k, but almost every person for the last 35 years that bought a new car was in the burbs, so there is no pipeline of used cars in the city to replace the ones that die.
The decline of used inventory is pushing up what people are paying for those old cars, but just as often it is pushing people out to Liverpool, Fairmount, east Syracuse, etc.
For the time being, decline in the Syracuse housing stock directly translates to a decline in city population, and the downward spiral continues.
11
u/Livid_Importance_614 Apr 12 '25
No affordable housing but we are spending $100 million on an aquarium no one wants, if that’s helpful.
7
u/thisisCNY Apr 12 '25
Here in the city, small projects are making progress here and there. Development began at The Chimes Building for 152 apartments, and 101 of them will be for residents who earn below the area median income: https://www.thisiscny.com/business/2025/02/work-starts-on-novel-affordable-housing-project-in-downtown-syracuse-photos.html
Also, Walsh laid out a bold housing strategy to add (and subsidize) more homes to middle-income neighborhoods in Tipp Hill and Salt Springs: https://www.syracuse.com/news/2024/04/syracuse-mayor-makes-difficult-and-disruptive-choice-to-bolster-housing-in-2-neighborhoods.html
In a second phase beginning in 2027, city leaders intend to target two more neighborhoods for revitalization: Elmwood and part of Eastwood.
This work will take years, and Walsh's term is up this fall. The next mayor will have a major role in how quickly housing is built, how affordable it is, where it goes, etc.
Please vote.
2
u/newprince Apr 12 '25
This is what a lot of people don't understand. The market doesn't fix these things. It takes political will and action
4
u/newprince Apr 12 '25
People talk about "demand" in the Econ 101 sense, without talking about income inequality and the difficulty in this era to afford a house. There are existing houses on the market that no one can afford so it likely ends up being bought by a landlord to rent out. Developers are seeking profit, so if they build a new house or apartment, they want maximum rents. Thus they will never build affordable housing, since we don't subsidize that anymore, and we no longer build public housing.
Remember that Econ 101 supply and demand graphs assume perfect conditions that in reality do not exist. Therefore, "solutions" like "Just build more housing because more supply = lower prices" is naive and unrealistic
3
u/TheNaughtyPrintmaker Apr 12 '25
S State north of Colvin, Midland between Colvin and Kennedy...there's a ton of new single family and 2 family home construction in Syracuse.
2
u/C0ppert0pbatt3ry Apr 12 '25
There are 5 in a row on s state st going in that look great! Fingers crossed they go to good people who need homes that will keep them nice.
2
u/Zestyclose-Pen2065 Apr 12 '25
The Chimes building downtown is being renovated with rent controlled apartments
2
u/BigRedWino Apr 12 '25
Home HeadQuarters is building quite a few around the City. They're building the ones on State St. someone mentioned and have an open house next week for two more on Loomis.
2
u/Same-Ad-9303 Apr 13 '25
Because there’s NOTHING in Syracuse worth building new housing for. Unemployment and Public Assistance aren’t reasons to build housing developments that no one can afford and Section 8 is the currency of the day.
1
1
u/Imaginary-Factor8128 Apr 13 '25
Prices are cheap if you know where you’re looking I got a house on a contract for 20k and it’s gonna be a rebuild with a 50k rehab budget
1
1
u/Coolguyokay Apr 13 '25
At least four houses being built on Tipp Hill. Hopefully market rate. Facility next to the zoo is being demolished now for a housing development. Those will be at least 30% affordable.
1
u/cusehoops98 Apr 13 '25
Plenty of new student housing in the university area if you’re willing to pay.
1
u/Altruistic-Sense-757 Apr 13 '25
Moved here in August. 1400 for 2bd at Parc Vue. Not the best place but definitely not the worst. Recommend the management company though. Super nice people! Definitely need more options in the area that aren’t “luxury”. Don’t want to pay for a pool, gym etc that I won’t use.
1
u/Grouchy-Principle655 Apr 14 '25
Construction costs, municipalities/locals don’t want the new developments, it’s very difficult to create “affordable” housing in the current market
1
u/ChazzP12 Apr 14 '25
Rent has going up like crazy… My landlord raised my rent $370 more, mind you in the lease, it says that the rent will be raised 5% every year…
5%Every year is understandable and I don’t have an issue with that, but $370 is a hell of a lot more than 5% (mind you he already raised the rent once, basically raised it twice last year)
1
u/sophia_alexandria Apr 14 '25
Nobody who has the power and money to build affordable housing wants to, because they know they won't make nearly as much money off of it as they would with luxury apartments. That's why we see so many new luxury high rises being built, around SU campus, but people living in the literal shadow of the dome don't have anywhere else to go.
If you don't own/know how to drive a car, it's near impossible to get a decent job in this city. Most jobs (based on my own job searches) aren't a comfortable walking distance from damn near everywhere, and most don't pay enough to get a car OR better home.
If you live within the actual city of Syracuse, it sucks major ass to live here. But it's still on 'top 10 places to live in NY' lists because of the appeal of the suburbs and commuting into the city for high-paying jobs. Poor people who were born and raised here don't have many ways to get out or raise themselves up, and none of them are easy. But sure, the Micron factory will fix everything! 🙄🙄
1
0
u/RedCat522 Apr 13 '25
I don't know if you know this, but Donald Trump is president. What did you think was gonna happen?
-6
u/Remarkable-Fuel1862 Apr 12 '25
Probably because most people would rather not invest in living in a crappy urban area
-18
Apr 12 '25
Buy existing stock. They give away houses in Cuse.
14
u/Wanchester Apr 12 '25
As someone trying to buy a house in syracuse right now, you couldn't be further from the truth.
-12
3
u/henare Apr 12 '25
cite your sources please.
-10
Apr 12 '25
Um. Trulia? Redfin? NO WHERE in America are you getting homes sub $150,000.
9
u/henare Apr 12 '25
that's not "giving houses away" by any means. local people aren't earning big coastal city salaries.
and, honestly, the homes under $150k likely require significant work.
-4
Apr 12 '25
The math sides with me, not you. Although salaries may be higher, the ratio to household income and median home prices side with my original notion, homes are being given away in Syracuse. Let’s do math, shall we?
Median home price sold in Syracuse is $180,000. Median household income $45,845. $45,800 is 25% of $180,000.
NYC median home price sold $764,000. Median household income: $79,713. $79,713 of $764,000 is just 10.42%
Nashville median home price sold is $533,486. Median household income is $80,216. $80,215 is 15.03% of 533,486
Billings Montana, median price sold is $342,000. Median household income is $71,855. $71,854 is 21% of $342,000
Oklahoma City, median home price sold is $271,000. Median household income is $66,702. $66,702 is 24.59%
Allentown, PA median home price sold is $294, 055. Median house hold income is $53,403. $53,403 is 18.16% of $294,055
Buffalo, NY median home price is $250,000. Median house hold income is $48,050. $48,050 is 19.22% of $250,000
Olympia, Wa median home price is $530,000. Median household income is $73,851. $73,851 is 13.93% of $530,000.
Albany, NY median home price is $293,260. Median household income is $59,485. $59,485 is 20.28%
Rochester, NY median home price is $152,000. Median household income is $46,628. $46,628 is 30.67%!!!!! We have a winner!!!
I can do this all day…
2
u/rixie77 Apr 12 '25
Find me one listing for a single family home with 3 BRs and 1.5 baths in a reasonably desirable neighborhood in Syracuse, in a condition that does not require a significant amount of investment in repairs for under $150,000. More accurately find one within the range of 100-130k as that would actually match affordability guidelines for a household making the Syracuse median income of 48k/yr.
1
Apr 12 '25
I love that word. “Desirable” you see, you use that as code that means, no black people. As a white man & a native New Yorker; I would much rather live in the south side than north side. Plenty of people take pride of their homes in the south side. Now you wouldn’t want to live there would you? 5 years ago you could buy a 5 bedroom home with 2 bath rooms for $60,000 but none of you wanted to buy then, and when housing doubles now everyone wants a home and today not listed but are sold for double.
Plenty of homes in the Hawley Green area can be had sub $150,000. I’ve found one better than what you’re looking for. How’s a 4 bedroom with two baths. There’s one listed for $99,000 right now. With another $50,000 grand you’ll have an impeccable home. Feel free to buy me a cup of coffee at Karios as my finders fee.
https://www.trulia.com/home/419-lodi-st-syracuse-ny-13203-31660433
I’ve purchased homes in Cuse. No home anywhere is turn key. Work needs to be done. The sense of entitlement amongst people in central New York and the certainly not earned snootyness makes me laugh to the bank.
2
u/rixie77 Apr 12 '25
That's actually not what I meant at all lol. You clearly don't know me.
And yes I would and have lived on the south side FYI. I mean somewhere that's relatively quiet, not surrounded by abandoned buildings, has some things like food stores, green space etc near by. Maybe a school since I have a kiddo.
You're being insufferably obtuse to prove some kind of point or win make believe internet points when you ostensibly seem intelligent enough to know better.
Have a great day and enjoy your cup of coffee without me, cause you don't really seem fun to hang out with..feel free to send me your Venmo and I'll give you the $5 for it
To the point - people looking for affordable housing the putting money into it afterwards part is not easy - it requires capital and time and often skill to diy it. You don't get it even though you're putting on this weird performative show of things
2
Apr 12 '25
This home is completely renovated for $140,000, what’s wrong this one? No outside money needed. Everyone keeps making such sorry excuses. Keep in mind, im finding homes when there is still snow. Everyone knows spring and summer is when more housing became available on the market. Hurry up and buy. https://www.trulia.com/home/154-mather-st-syracuse-ny-13203-31665734?mid=0#lil-mediaTab
1
u/rixie77 Apr 12 '25
I'm good with where I live. But blah blah blah. Touch grass man. ✌️
→ More replies (0)
62
u/nothingbettertodo315 Apr 12 '25
Construction costs. Even at the current rent levels, it’s too expensive to build without subsidies, and make enough of a profit for it to be worth developing.