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The renovation of the former Skyline Apartments in Syracuse is nearing completion, with the new owners, Clear Investment Group, planning to welcome tenants by the end of the year. The building, now renamed The Metropolitan, is expected to be fully renovated and occupied by late April next year.
Clear Investment Group purchased the 12-story complex at 753 James Street for $13 million in 2023, following extensive safety issues reported at the site. The building had previously been plagued by problems, including a murder, drug activity, vermin, and severe flooding from burst water pipes. Despite these challenges, the company has made significant progress, modernizing elevators, upgrading fire alarms and security systems, and completing finishes on the first three floors.
Razi Uddin, Managing Director and CFO of Clear Investment Group, expressed optimism about the project, stating, "Everything is lining up." The group aims to have some residents move in by December 31. Rent for the apartments will range from $1,000 to $1,520 per month.
The renovation comes after a lawsuit settlement with the city of Syracuse, which had taken legal action against Clear Investment Group for delays in repairs. The settlement commits the company to complete the renovations and make the property habitable for future tenants. Clear Investment Group CEO Amy Rubenstein emphasized their commitment to creating safe and respectable communities for residents.
The Metropolitan will offer 352 units once renovations are complete, addressing a significant need for housing in the city. The building's transformation is a crucial step in revitalizing the area and providing quality living spaces for Syracuse residents.