Syracuse, N.Y. — The upper floors of the historic Syracuse Savings Bank building, known for its over-the-top Gothic Revival-style architecture, are to be converted into high-end apartments.
Tony Fiorito and John Funiciello, who bought the ornate, 139-year-old bank building seven years ago, plan to build 22 apartments on its upper three floors. Its bottom three floors will continue to be occupied by Bank of America.
Fiorito and Funiciello have submitted plans for the conversions to the Syracuse Landmark Preservation Board and are seeking state and federal grants to help offset the estimated $3 million cost of the conversion. Fiorito said they hope to begin construction by the end of the year and have the apartments ready for occupancy next summer.
Office space since the building opened on the east side of Clinton Square, the upper floors have had high vacancy rates in recent years. So Fiorito said he has relocated two office tenants to his other properties downtown to clear the way to convert the space to apartments.
Two years ago, Fiorito, a former architect, converted the three upper floors of the historic White Memorial Building on Washington Street, two blocks from the Syracuse Savings Bank building, into 12 apartments. The White Memorial Building was also designed by Silsbee.
Fiorito is also considering converting the upper floors of another historic downtown building, the 23-story State Tower Building, into apartments. However, he said the cost of that conversion might be prohibitive because of the need to add a second staircase to meet fire codes.
Fiorito said it's fortunate that the trend toward downtown living has provided a means for re-using vacant and underutilized office space.
"I love renovating these buildings," he said. "It's a challenge, but it's really part of our city. It's rewarding to bring back some of the original architecture."
The six-story bank building was designed by a young architect, Joseph Lyman Silsbee, who beat out a number of other noted architects, including Archimedes Russell, for the job.
When it opened. it was the tallest building in Syracuse, with a central tower reaching 170 feet into the air. It also was the first building in Syracuse with a passenger elevator.
The building stands out for its many Gothic Revival details, including steep roof peaks and windows with pointed arches, also known as hoodmolds. Its tan sandstone walls are highlighted with reddish-brown sandstone.
Silsbee is said to have established his office in the top of the tower until he moved in the 1880s to Chicago (where he gave famed architect Frank Lloyd Wright his first job). However, the top of the tower now has no floor, only a metal catwalk that provides a view out the tower's windows. A floor at the bottom of the tower contains mechanical equipment. The floor at the top, if it existed, might have been removed when steel framing was added to the interior of the tower to improve structural support in the 1930s.
Built adjacent to the Erie Canal on the east side of Clinton Square, the building is a Syracuse icon. It is prominent in many historical photos of the square.
Its design is unusual in that its many architectural features even appear on the side of the building that faced the canal, which was filled in in the 1920s and is now Erie Boulevard. Generally, the canal side was considered the back side of a building, not worth the expense of a fancy facade.
Dennis Connors, curator of history for the Onondaga Historical Association, said the fact that it is a bank building explains its design and longevity.
"The bank wanted to create a sense of prominence and stability, and it had the resources to do an over-the-top building like that," he said. "Even in the days of urban renewal, when they hacked buildings down left and right, this one was preserved."
Syracuse Savings operated from 1849 until 1987, when it was acquired by Norstar Bank.
Fiorito said he expects the apartments to appeal to young professionals, the same demographic that has been filling up many of the other apartments that have been built on the upper floors of downtown's office buildings in the past few years.
"The (residential) market is so strong now, especially anytime you have an historic building that has a lot of character," he said. "And location is another key. This is right on Clinton Square."
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