Syracuse University Nears Deal To Buy The Marshall Luxury Apartment Building
By Ricky Sayer
SYRACUSE, N.Y. – Syracuse University is nearing a deal to purchase The Marshall, a luxury student apartment building located just off campus, according to a source with knowledge of the situation.
Completed in 2018, the 287-bed, 8-story building could become a new university dorm if purchased. It’s not clear if SU will retain the current layout of the building, or renovate it to more closely match the dorm-style living found in most university apartment buildings.
Both the university, the building’s housing manager, and the building’s developer, have all not returned requests for comment.
If purchased, the building couldn’t turn into a dorm overnight and tenants, both current and signed through the next year, would be able to stay until their leases end.
The building has been at or near-full occupancy since it opened.
The addition of the Marshall would represent the University’s first major addition of beds on North Campus in several years.
A still-underway housing study supports moving much of the University’s South Campus housing stock to North Campus through a “series of renovations and new construction,” according to a report from the Special Committee on Diversity.
Similar to South Campus apartments, The Marshall offers independent-style living with a mix of 1-bedroom apartments, studios, and 2 and 4 bedroom apartments. The extreme vast majority of North Campus university owned housing is dorm-style.
The cost for tenants currently living in the Marshall is among the highest for SU students, with prices ranging from $1,300 to $1,900 a month.
Retail space on the building’s first floor has remained largely empty since the building opened. Blaze Pizza and The Halal Guys were set to move in but never did. Currently, tenants include a recently-opened Five Guys and Kung Fu Tea. Hungry Chucks, the legendary bar that once stood on the site, was also set to move in last fall. The restaurant’s owner told Syracuse.com they planned to open around the start of the fall semester. As of July, no progress to transform the retail space into the bar is visible.
