Hart Lyman, Conifer Realty Reveal $1B Mall Redevelopment Project

The Hart Lyman Cos. and Conifer Realty have unveiled their updated plans for the redevelopment of Great Northern Mall, near Syracuse, N.Y. These include new housing, medical facilities, professional offices, a municipal community center, hotel guestrooms, as well as retail, dining and entertainment options.

The plans for the 215-acre site, now before officials at the town of Clay, N.Y., envision “a vibrant town center … with a walkable town center, entertainment district, health and wellness campus, and premier residential community,” according to the developers.

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A total investment valued at more than $1 billion is expected to result in:

•  More than 600,000 square feet of retail, community, grocery, restaurant and entertainment space;

•  More than 790,000 square feet of medical and office space;

•  Over 750 hotel guestrooms;

•  Several “mixed-use clusters,” each with 300 to 500 new housing units.

Assuming rapid permitting and approvals, construction is scheduled to begin in the fourth quarter.

Hart Lyman is headquartered in Syracuse, and Conifer Realty has offices in Rochester, N.Y., and other locations. Conifer has developed more than 21,000 affordable housing apartments across more than 300 residential communities.

Small chips, big growth

A giant semiconductor manufacturing facility is also coming to the town of Clay. In October 2022, Micron Technology announced the construction of a memory-chip fabrication plant that will involve an investment of as much as $100 billion. The “megafab” reportedly will be the largest-ever private investment in the state of New York. Groundbreaking is expected later this year.

At multiple sites across the U.S.—and boosted by the CHIPS and Science Act—construction of semiconductor fabrication plants continues to be a major influence in industrial real estate development.