Salina, N.Y. – A $12.8 million project to redevelop the landmark Le Moyne Manor site and turn it into an apartment and retail complex has stalled as the developer struggles with escalating costs.
The project is “on pause” as the cost of building materials has soared in recent months, said David Muraco, who is developing the project. The overall cost is up nearly $5 million, he said. Windows are on back order and not available for a year, he said.
“I just have to sit it out and wait,’’ Muraco said. “I don’t know how anyone can build anything right now.”
The project was approved for $1.6 million in tax exemptions from Onondaga County. Muraco said it will likely be at least six months before he starts construction.
Muraco’s plan is to construct four buildings at the former Le Moyne Manor site at 629 Old Liverpool Road. The buildings would have a total of 66 apartments, and one of the buildings also would have 5,000 square feet of first-floor retail space. Several of the apartments would overlook Onondaga Lake.
Muraco tore down the old crumbling buildings on the property in 2018 after purchasing it in 2016. The site is cleared, and Muraco said he does plan to install water, gas and sewer lines in the next month. He also may pour the concrete slabs for the buildings.
New owner David Muraco demolished the vacant Le Moyne Manor banquet facility, above, on Old Liverpool Road in Salina, and is planning to build luxury apartments in its place. (Rick Moriarty | rmoriarty@syracuse.com)Rick Moriarty | rmoriarty@syracu
The cost of Concrete, framing, windows, roofing and appliances all have increased, Muraco said, and Carrier air conditioning units are also on back order for a year. Muraco said. he wouldn’t be able to recoup his costs if he’s paying more for materials..
Building materials prices have risen 35.6% nationally since the pandemic started, according to the National Association of Home Builders. Lumber costs are up 60 percent since September 2021, and steel costs rose 128 percent in 2021, the group said.
“I can only charge so much for rent,’’ he said. “I’m sick to my stomach over this. I want to build this very badly.”
Salina Town Supervisor Nicholas Paro said he understands the cost restraints and subsequent delay. He has met with Muraco and said the developer is committed to the project once he can get costs under control, Paro said.
Elizabeth Doran covers education, suburban government and development, breaking news and more. Got a tip, comment or story idea? Contact her anytime at 315-470-3012 or email edoran@syracuse.com
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