Former Post-Standard building gets a new name and 2 new tenants
Rick Moriarty | May. 18, 2021
<brhttps://www.syracuse.com/business/2021/05/former-post-standard-building-gets-a-new-name-and-2-new-tenants.html
The former Post-Standard building at 101 N. Salina St. in Syracuse is being re-branded as The Post and is getting two new tenants, ChaseDesign and VIP Companies.Rick Moriarty | rmoriarty@syracuse.com
Syracuse, N.Y. — The former Post-Standard building in Clinton Square is being rebranded as The Post and is getting two new tenants.
ChaseDesign, a design and business consulting firm now in Skaneateles, will take over much of the second floor on the south side of the building, the part that faces the square.
VIP Companies, which bought the building from the newspaper in 2017, will make the first floor its new headquarters. The architectural, engineering, construction and development company has been outgrowing its current offices just a block to the north at One Webster’s Landing.
Founded as an industrial design firm in Syracuse in 1958 by Dave Chase, ChaseDesign has been located in Skaneateles since the early 1960s. It employs 83 people.
In the 1980s, the firm expanded into its current area of growth and expertise — retail design and merchandising, product and packaging design, and brand and corporate identity. One of its oldest and biggest clients is consumer goods company Procter & Gamble.
ChaseDesign plans to move from its leased space in Skaneateles when renovations to The Post are done.
“We are excited about the possibility of moving to downtown Syracuse,” ChaseDesign President Joe Lampertius said. “We need to consolidate and expand our operations for our company to continue its growth, and we need an urban environment to continue attracting and retaining top-level diverse talent. At The Post, we have found a great location that will serve our needs.”
Chase’s sister company, 10Red, will occupy part of the company’s office at The Post.
The Post-Standard and its online partner, syracuse.com, moved much of their staff in 2013 to Merchants Commons on South Warren Street. VIP bought the building from the media company in 2017, but The Post-Standard continues to be printed in its press hall in the north end of the building.
David Nutting, founder and former CEO of VIP Structures and co-founder, with business partner Charlie Wallace, of an affiliated company, VIP Development, said there is 11,000 square feet of space still available for lease.
“We are confident that it will go quickly now that the building has solid momentum,” Nutting said.
VIP, through 101 North Salina St. LLC, an entity created for the project, has applied to the Syracuse Industrial Development Agency for tax exemptions for a renovation. Nutting and Wallace are members of the limited liability company, which now owns the building.
In addition to interior renovations and tenant build-outs, the renovations will include new windows, replacement of mechanical and electrical systems and other work to improve energy efficiency, and site improvements including new sidewalks, according to VIP.
VIP has put the cost of the project at $19.1 million, including its $4 million purchase of the building.
The tax exemptions it is seeking consist of a mortgage recording tax valued at $112,500, sales tax valued at $435,488 on construction materials, and property tax discounts as part of a 15-year payment-in-lieu-of-tax agreement, the value of which has not yet been determined.
Rick Moriarty covers business news and consumer issues. Got a tip, comment or story idea? Contact him anytime: Email | Twitter | Facebook | 315-470-3148
