The renovation of older buildings in Syracuse and Upstate New York could face a more uncertain future without a popular economic development tool. Those hoping to save the federal Historic Rehabilitation Tax Credit form the chopping block in Congress gathered Tuesday in the Persian Terrace at the Hotel Syracuse to sound the alarm. The hotel’s lead developer Ed Riley has his credit already in hand, and says the project wouldn’t be possible without it.
A vacant, boarded-up mansion that held a gloomy presence over the corner of East Genesee and Westcott streets for years now shines as an example of historic preservation. The exterior of the former Babcock-Shattuck house is all but finished, and work has shifted inside. Plumbing, electrical, and heating and cooling are mostly installed, and framing is ready for drywall. The Queen Anne-style house was built in 1895, and is on the National Register of Historic Places.