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The parking lot next to the Oncenter could be home to a new $150 million high-rise complex

(Dick Blume | The Post-Standard)

SYRACUSE, N.Y. -- Onondaga County is entertaining the idea of a new high-rise with apartments, offices and restaurants adjacent to the Oncenter.

The county plans to sell its parking lot at the corner of South State and Harrison Streets to be developed. Syracuse-based PEMCO Group has offered $2.5 million for the 2.59-acre lot and would construct a $150 million mixed-use complex.

Onondaga County Legislature Chairman Ryan McMahon said the structure would have space for a "major retail tenant," including offices, restaurants and apartments marketed to students.

"To have any viable convention center corridor, you need density," he said. "And that's what this corridor is missing."

PEMCO's proposal includes multiple towers and an 1,100-space underground parking garage.

PEMCO will have an option on the property until the end of 2019, before which they will need to figure out financing for the project. PEMCO could extend the option for one year if they pay $100,000 to the county for the Jobs Plus! program.

McMahon said the proposed project is a $150 million complex and will likely involve tax breaks from the Onondaga County Industrial Development Agency. PEMCO was chosen from multiple developers that submitted proposals, McMahon said.

Representatives for PEMCO did not return messages left Tuesday afternoon.

The parking lot -- known as "Lot 17" -- is owned by the county and used by the Oncenter properties. Employees park there and the lot is used for paid parking during events at the convention center and the War Memorial.

There are about 275 parking spaces, which would be eliminated. McMahon said the county will have access to spaces in the new underground garage to make up for the lost lot.

A local law approving the sale of the property was presented to the legislature Tuesday. Legislators will vote on it at next month's session.

The county paid $3.45 million for the lot in 2008. There were plans to build a convention center hotel there prior to the renovation of the Hotel Syracuse, but those plans were scrapped.