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Cosimo Zavaglia has filed an application with the Syracuse Industrial Development Agency to turn two connected warehouse buildings at the northwest corner of West Division and North Clinton streets into approximately 84 apartments.
Zavaglia said Tuesday the $11.5 million development is dependent on reaching a payment-in-lieu-of-tax agreement with the agency and on getting a $1 million grant from it. A public hearing on Zavaglia's application is scheduled for Dec. 16.
Zavaglia owns about 650 apartments in the Syracuse area, making him one of the area's biggest landlords.
He does not yet own the two connected buildings where he hopes to build the 84 apartments. He said he has an agreement to purchase them from developers Dan Queri and Mark Congel if he is able to reach agreements with the agency and receive the necessary approvals from the city.
