An Auburn businessman has embarked on a multimillion dollar project that combines his passion for old structures and quality architecture with his love for his city.
Jason Rearick / The Citizen
The former Wegman Piano Factory is the future site of Logan Park Lofts, pending approval from the Auburn City Council and a historical board.
The former Wegman Piano Factory is the future site of Logan Park Lofts, pending approval from the Auburn City Council and a historical board.
The nearly 30 people who have voiced interest in the estimated $4.9 million planned condominium project proves Matteo Bartolotta isn't alone.
Pending a vote from the Auburn City Council next Thursday, Bartolotta will turn the former Wegman Piano Factory into 35 higher-end housing units.
Of the 27 people who showed interest in the complex, Bartolotta said half are from Auburn and Cayuga County. Some are from surrounding areas such as Skaneateles, Syracuse and Rochester.
The owner of Bartolotta Furniture Co. heard from 18 people almost immediately when his ideas to renovate the old brick building into a residential complex began to circulate this fall. Those interested consist of a mixed group, from young professionals to empty nesters or mature professionals, and people ready to retire, Bartolotta said. Also, some former residents see this as an opportunity to come back to the region, he added.
Syracuse hosted a similar project 15 years ago. Franklin Square Condominiums was an old manufacturing building converted to 47 housing units, which sold quickly. The project was one of the first upscale condominium complex buildings in downtown Syracuse.
The lack of upscale housing and condominiums was detailed in a recent housing study for Auburn. The Alpharetta, Ga.-based Novagradac & Company prepared the analysis, of which the final draft was presented to the city council in January.
“While these developments have been successful in Syracuse, there is little financial evidence to support this type of development in Auburn. However, a project on a lesser scale may be more feasible,” the study states.
Realtor Shawn Murphy believes the project is a positive undertaking for the city. A director of the New York State Association for Realtors, Murphy thinks the project will succeed with two specific markets within the community.
First, the young professionals who don't have children may want to buy property and build equity, but not fix up properties or maintain the lawn.
Second, are the snowbirds who live in the Finger Lakes region for part of the year. These buyers may also be empty nesters who don't want to take care of a large home anymore, Murphy said. He also belongs to and served as six-time past president of the Cayuga County Association of Realtors.
“If they are in Florida, they would have to worry about their property here. (With a condo), they turn the key in the door and not worry about it,” Murphy said.
This last group can find the freedom of knowing they've left their home safe and it will be kept up when they travel, Bartolotta added.
Philip Colby of Colby Real Estate responded positively about adding condominiums to Auburn's housing stock when asked for the housing study. He specifically pointed to the growing need for housing for higher income elderly, a market both Bartolotta and Murphy have said will show interest in the lofts. Many seniors don't qualify for subsidized facilities but do not want to keep their large homes.
Bartolotta doesn't have a price range, he said, because he will use the cost of materials to decide. He said he wants to make the price as close to cost as possible.
From the plan's inception, there have been side conversations about whether residents can afford the lofts.
Murphy foresees the property doing well. He points to Martin Point, an Owasco complex built more than 10 years ago. He said the Logan Park Lofts may be more successful because of the more affordable range.
“I think it will be (sold to) local people. When the developers of Martin Point first marketed it 10 to 12 years ago, people thought it would be people from out of town or out of state who want a home in the Finger Lakes,” Murphy said.
The developers first advertised the complex in Boston and New York City, he said. When Murphy's real estate business became the broker for the complex, he discovered most of the buyers were from the area.
He points to local people who want a nice place to live but without the work and hassle of yard work and property upkeep.
“I think it's a good product line for the city. We don't really have anything like this here,” Murphy said.
A recent study of Auburn's housing stock and future needs detailed the lack of upscale housing and condominiums.
One trend shows the increasing number of young professionals, from 24 to 30, in the region. The Environmental Systems Research Institute Business Analyst forecasts a slight increase from 15.6 percent in 2006 to 16.4 percent in 2011. Currently, Auburn has a higher percentage of people in that age group than Cayuga County.
“Our demographics indicate that there may be potential for additional rental units targeted toward this population segment,” according to the study. It also pointed to buyers' preferences in the market, which include homes and units that are single-story, have two or three bedrooms, newly constructed and have a large lot.
The Logan Street project offers all these amenities, with the exception of the large lot. Instead it will have a garden area on the property, architect Andrew Ramgard told the Auburn Planning Board last month.
The property will have 35 units, a change from earlier designs because architects tailored the project to accommodate the demand and feedback they receive.
People said they mostly wanted two-bedroom units, Bartolotta said. This allows couples with grown children an extra bedroom or general guest bedroom, or an office or computer room.
“We tried to figure out the future of the project. The most requested - I would say 90 percent or more - wanted two bedrooms. That's the feedback we've gotten. And like I say, we try to make (changes) for what people want,” he said.
Bartolotta loves old buildings, and wants to keep the region's architecture and history intact, he said.
After going before the city council the plans next will go before a historical board. After they receive all the approval, crews can start building.
Murphy hopes that once the complex is off and running, it will inspire other similar condominium opportunities.
“(A condo project) would be good in the downtown area. People are always talking about revitalization, that's one way to do it. There are empty second- and third-floor spaces,” Murphy said.
“If this works in one place, it might spread into downtown,” he added.
Staff writer Jessica Soule can be reached at 253-5311 ext 267 or jessica.soule@lee.net
Pending a vote from the Auburn City Council next Thursday, Bartolotta will turn the former Wegman Piano Factory into 35 higher-end housing units.
Of the 27 people who showed interest in the complex, Bartolotta said half are from Auburn and Cayuga County. Some are from surrounding areas such as Skaneateles, Syracuse and Rochester.
The owner of Bartolotta Furniture Co. heard from 18 people almost immediately when his ideas to renovate the old brick building into a residential complex began to circulate this fall. Those interested consist of a mixed group, from young professionals to empty nesters or mature professionals, and people ready to retire, Bartolotta said. Also, some former residents see this as an opportunity to come back to the region, he added.
Syracuse hosted a similar project 15 years ago. Franklin Square Condominiums was an old manufacturing building converted to 47 housing units, which sold quickly. The project was one of the first upscale condominium complex buildings in downtown Syracuse.
The lack of upscale housing and condominiums was detailed in a recent housing study for Auburn. The Alpharetta, Ga.-based Novagradac & Company prepared the analysis, of which the final draft was presented to the city council in January.
“While these developments have been successful in Syracuse, there is little financial evidence to support this type of development in Auburn. However, a project on a lesser scale may be more feasible,” the study states.
Realtor Shawn Murphy believes the project is a positive undertaking for the city. A director of the New York State Association for Realtors, Murphy thinks the project will succeed with two specific markets within the community.
First, the young professionals who don't have children may want to buy property and build equity, but not fix up properties or maintain the lawn.
Second, are the snowbirds who live in the Finger Lakes region for part of the year. These buyers may also be empty nesters who don't want to take care of a large home anymore, Murphy said. He also belongs to and served as six-time past president of the Cayuga County Association of Realtors.
“If they are in Florida, they would have to worry about their property here. (With a condo), they turn the key in the door and not worry about it,” Murphy said.
This last group can find the freedom of knowing they've left their home safe and it will be kept up when they travel, Bartolotta added.
Philip Colby of Colby Real Estate responded positively about adding condominiums to Auburn's housing stock when asked for the housing study. He specifically pointed to the growing need for housing for higher income elderly, a market both Bartolotta and Murphy have said will show interest in the lofts. Many seniors don't qualify for subsidized facilities but do not want to keep their large homes.
Bartolotta doesn't have a price range, he said, because he will use the cost of materials to decide. He said he wants to make the price as close to cost as possible.
From the plan's inception, there have been side conversations about whether residents can afford the lofts.
Murphy foresees the property doing well. He points to Martin Point, an Owasco complex built more than 10 years ago. He said the Logan Park Lofts may be more successful because of the more affordable range.
“I think it will be (sold to) local people. When the developers of Martin Point first marketed it 10 to 12 years ago, people thought it would be people from out of town or out of state who want a home in the Finger Lakes,” Murphy said.
The developers first advertised the complex in Boston and New York City, he said. When Murphy's real estate business became the broker for the complex, he discovered most of the buyers were from the area.
He points to local people who want a nice place to live but without the work and hassle of yard work and property upkeep.
“I think it's a good product line for the city. We don't really have anything like this here,” Murphy said.
A recent study of Auburn's housing stock and future needs detailed the lack of upscale housing and condominiums.
One trend shows the increasing number of young professionals, from 24 to 30, in the region. The Environmental Systems Research Institute Business Analyst forecasts a slight increase from 15.6 percent in 2006 to 16.4 percent in 2011. Currently, Auburn has a higher percentage of people in that age group than Cayuga County.
“Our demographics indicate that there may be potential for additional rental units targeted toward this population segment,” according to the study. It also pointed to buyers' preferences in the market, which include homes and units that are single-story, have two or three bedrooms, newly constructed and have a large lot.
The Logan Street project offers all these amenities, with the exception of the large lot. Instead it will have a garden area on the property, architect Andrew Ramgard told the Auburn Planning Board last month.
The property will have 35 units, a change from earlier designs because architects tailored the project to accommodate the demand and feedback they receive.
People said they mostly wanted two-bedroom units, Bartolotta said. This allows couples with grown children an extra bedroom or general guest bedroom, or an office or computer room.
“We tried to figure out the future of the project. The most requested - I would say 90 percent or more - wanted two bedrooms. That's the feedback we've gotten. And like I say, we try to make (changes) for what people want,” he said.
Bartolotta loves old buildings, and wants to keep the region's architecture and history intact, he said.
After going before the city council the plans next will go before a historical board. After they receive all the approval, crews can start building.
Murphy hopes that once the complex is off and running, it will inspire other similar condominium opportunities.
“(A condo project) would be good in the downtown area. People are always talking about revitalization, that's one way to do it. There are empty second- and third-floor spaces,” Murphy said.
“If this works in one place, it might spread into downtown,” he added.
Staff writer Jessica Soule can be reached at 253-5311 ext 267 or jessica.soule@lee.net
