Friday: Deal For Woolworth Building Almost Done
The way is almost clear for redevelopment of the old Woolworth Building in downtown Watertown.
The Jefferson County legislature will consider a 15 year tax deal for the project Tuesday; that follows on the heels of approvals by the Watertown city council, the Watertown school board and - earlier this week - the Jefferson County Industrial Development Agency (JCIDA).
Developers David Gallo and Erich Seber plan to renovate the empty, decaying building into 50 apartments and a large retail area on the ground floor.
"Having a nice looking rebuild downtown is critical when you're attracting or retaining jobs," said Don Alexander, the head of the JCIDA.
"This is how it's got to happen."
Watertown mayor Jeff Graham said he was pleased the developers "have moved quickly" after waiting several years for the former developer to act.
"Downtowns are never done, never a completed thing, but I'm very happy with the way things are going," said Graham.
Friday, October 9, 2015, Watertown, NY
On Wall Street