SYRACUSE, DECEMBER 20, 2019 - The MOST has been awarded $300,000 from the 2019 Regional Economic Development Council (REDC) Empire State Development Grant Funds for renovations to create commercial rental real estate in the unoccupied east side of the Armory. The 2019 REDC awards offer $761 million to various economic and community development projects through Round IX of the REDC initiative.
The MOST will use the funds to renovate space in the historic Armory in preparation to lease an unidentified long-term commercial tenant(s). The project will help the museum in developing additional sources of revenue.
"On behalf of the MOST boards and staff, we're grateful for the support from New York State and REDC," said Lauren Kochian, President of the MOST. "This award will enable the MOST to continue its efforts towards sustainability and longterm growth in the heart of downtown Syracuse, so that we may continue to serve thousands of children and students annually with interactive exhibits and informal STEM (Science, Technology, Engineering, and Math) education,"
Kochian continues: "We are thrilled about the prospect of sharing the iconic Armory with other businesses and organizations in the city. Armory Square is a vibrant district in the heart of downtown, and the Armory building should be used to its fullest potential by maximizing the extraordinary space."
"The MOST is the anchor and defining feature of downtown Syracuse’s Armory Square district, and a major regional tourism destination and cultural asset," (REDC, 2019). The REDC regional investments are intended to act as a strategic model of growth for local leaders, stakeholders, and communities. The REDC initiatives allow for empowered local leaders to make economic development decisions in their known communities to transform the areas needed for economic success. The projected areas create job opportunities and strengthen the community to build a safer, and positive environment.