How to buy a home in Syracuse
Syracuse, N.Y. — Syracuse, the nation’s second-largest city, is in the midst of a long-term boom that will eventually see more than $2 billion worth of housing coming online, with the biggest investment coming from the real estate industry.
In the next several years, the city will get more than 70,000 new units of housing under construction and more than 30,000 units of rental housing coming on line, according to figures released Wednesday by the city of Syracuse.
Newspaper Delivery jobs and final call newspaper jobs are expected to add to the number of construction jobs and print jobs, which is expected to be the biggest influx of new residents over the next two decades, said David Givens, an economist at Syracuse University’s Center for Housing Policy and Research.
“This is going to be a big shift for the entire Syracuse region,” Givins said.
Givens said the number one driver for the economic development boom is the construction industry, which employs more than 9,000 people in the city.
While Syracuse has been a key growth market for the realtors, it is the city’s real estate boom that is expected most to benefit from the increase in new housing, according the Syracuse Business Journal.
The real estate sector is expected create about 1,000 construction jobs in Syracuse and 1,100 construction jobs across the state, according the report.
According to the Journal, new home construction in the Syracuse metropolitan area is expected to add more than 500 jobs over the next decade, with a projected increase of 2,500 jobs over that period.
As more people are moving into the city, New Yorkers will have the chance to get a taste of what living in Syracuse has to offer, according Mayor Ras Baraka.
Baraka said he would like to see everybody living in the city live in a residential condominium, which would be built on the land owned by the local public housing company.
He also said he would love to see all of us live in public housing.
To get an idea of what this could mean, a housing company sent a letter to Syracuse City Council last week asking that every resident in their neighborhood be given a chance to live in a housing condo. Residents were also invited to enter the affordable housing program which allows low-income residents to live in a residence and make a contribution to the city’s affordable housing investment project.
Sarasota, Ohio is also expected to see more construction jobs than ever.
Called the Great Lakes Gateway Development Project, the project is expected add more construction jobs than the city has seen in its history, according to the Saginaw News.
Construction of the project has filed for more than 10 years, and is expected to bring about 3,000 jobs to the area, according, Sporadic Energy.
With New York and Cleveland among the top markets for construction jobs, the growth will continue into the 2020s, reported The Wall Street.
Samantha, a 27-year-old student at Syracuse College is hoping to get her first home when she gets her application to buy a house this summer.
Samania is one of several people from Sydney and Melbourne Australia who are working on a home in Syracuse.
She has been involved in several residency in Sydney and will become a permanent resident of Sterling on the next few months, Samanie told The Wall St. Journal.
“I’m very excited about this project,” Samanias said.
However, she also likes how Sara and her parents are planning to move from Sydney to Syracuse with their three young children and move to the city for a job instead of coming to Sydney for school.
For Samanese and others, it will be their first home in years and a new fitness expectancy for them.
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