A Syracuse developer is looking to convert downtown’s distinctive Times Square office building into apartments.
“It's one of Rochester's most iconic high-rises,” said Joe Gehm, founder and managing member of Lahinch Group. “You know, anybody in our field would be attracted to the idea of rehabbing it.”
The nearly century-old building at Exchange and Broad streets is kitty-corner to Blue Cross Arena at the Community War Memorial. Its most recognizable feature: the steel and aluminum wings at its peak.
The 42-foot-tall “Wings of Progress” were the work of architect Ralph Walker, who reportedly designed the feature to create “a sense of flight” and "upward lift.” That was in 1930.
Plans for redevelopment are in the early stages but are estimated at $30 million and would convert the upper floors of the 14-story structure into 90 apartments. Some commercial and retail space would be retained and modernized on the lower floors.
“It's all about timing,” Gehm said of how that mix sorts out. “And I think as we get a little further along the road here ... the right end user hopefully will come along.”
The surrounding area has seen a flood of new investment, and new arrivals.
Constellation Brands opened its new headquarters across the street. And recently completed renovations of the old Gannett and former City Hall buildings, now rebranded as The Edmond and The Rockford, added dozens of apartments to the market.
The Rockford opened in May 2023, and was fully leased by November of that year, said building manager Lily Loveless.
“Since then, we’ve not had a single month of vacancy,” she said.
The building has 30 apartments and 10 commercial spaces, plus a downstairs restaurant, Elevated Sol.
If the Times Square project moves forward, it will join the city’s other distinctive buildings, including the former Midtown, Chase and Xerox towers (now Tower 280, The Metropolitan and Innovation Square, respectively) that are going the way of housing.
“We have not purchased the building,” Gehm said. “We are in the middle of our due diligence, which is, you know, very important to ... understand what can be done there.”
He added: “We don't have a 100% firm grasp on what that will look like at the moment.”
Gehm’s background is in historic preservation, and his firm has done several prominent renovations in and around Syracuse and Utica, with its housing developments typically focused on one-bedroom apartments with some two-bedroom and studios mixed in. His first venture into Rochester was the recently completed Elwanger & Barry Building farther north on State Street.
As for Times Square, he said: “We've done more difficult projects, I would say this is kind of right in the center of difficulty. Obviously, being a high-rise, there's some challenges there. But, you know, we're still trying to work that out.”
First, Gehm needs to line up financing. Mayor Malik Evans wrote to City Council last week, seeking approval to apply for up to $2 million in state grant funding to assist the development. Gehm said it will be sometime next year before the project's feasibility and timeline is known.
