Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SYRACUSE, NY-A project estimated to involve approximately $1.3 billion in private investment has been proposed by The Pyramid Companies which plans to build a four million sf addition called “DestiNY USA” to its existing Carousel Center mall here.

“DestiNY USA will feature more than 400 world-class retailers, restaurants and recreational activities and over 2,000 hotel rooms,” says Robert Congel, Pyramid Companies’ founder and senior managing partner.

The complex to be built adjacent to the 1.6 million sf Carousel Center, will also include 90,000-sf saltwater aquarium, a 500,000-sf multi-field indoor sport and recreational complex, a 65-acre glass-enclosed park and a 1,500-foot long replica of the Erie Canal.

Pyramid says that development of “DestiNY USA” is scheduled to begin in spring 2002 and is expected to create 12,000 construction jobs.

The developer also notes that DestiNY USA’s five-story atrium will house the $25 million International Tourism and Exposition Center, which will be designed to market upstate New York as a national and international tourism destination.

“These and other attractions will clearly distinguish DestiNY USA as a leisure and resort experience unlike any other,” Congel adds. Pyramid officials estimate the new facility will attract 40 million annual visitors once completed.

The 50,000-sf International Tourism and Exposition Center is a component of the Upstate Tourism Bill, which recently passed the State Assembly and Senate. Company officials estimate that the DestiNY USA complex could generate tax revenue of approximately $40 million annually. They add that the various tourism initiatives included in the Upstate Tourism Bill could create 140,000 permanent jobs and a $10 billion impact on the region.

Pyramid, which is the developer and manager of 19 shopping centers in New York and Massachusetts, is the owner of several retail facilities in the Hudson Valley including the Galleria at Crystal Run in Middletown (Orange County), the Palisades Center in West Nyack (Rockland County) and the Poughkeepsie Galleria in Dutchess County.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.