VVC Establishes Further Update on The Helium Project in Syracuse
Seattle-based Vulcan Value Capital LLC (VVC) and its Helium Project in Syracuse have announced further updates on their latest efforts. The Helium Project is an extensive revitalization proposal aimed at bringing new life to Syracuse, New York, in the form of employment, new businesses, and social amenities.
The project is a multi-stage comprised of a variety of planned initiatives, from businesses and job creation, to upgrades in entertainment and recreation outcomes through the Helium Park, a 24-acre space designed for entertainment and outdoor recreation.
VVC has previously indicated that they planned to create at least 1,000 full-time jobs within the city over the course of the project. The long-term plan includes refurbishing the former General Motors assembly plant, building a casino and entertainment district, and establishing retail, office and industrial facilities.
In their most recent statement, VVC has brought attention to their efforts to secure a master developer for the project. The search has included members from various industries, such as the gaming and hospitality, entertainment, retail, and commercial/industrial sectors. VVC has also noted the importance of selecting a development partner which understands the local culture, and can collaborate efficiently with government entities throughout the city.
VVC’s Chief Executive Officer, Adam Segal, shared that the project requires a partner capable of thinking even bigger. Segal stated his group wants to “Make sure this project will bring lasting, beneficial change”. With the search for the right partner underway, VVC intends to provide more regular updates as the project moves further along.
VVC is no stranger to the concept of developing a revitalized cityscape. The company was formed a few years ago to acquire crumbling properties and commercial assets in and around Seattle for purpose of redevelopment. The project in Syracuse will be their first venture beyond the west coast.
Overall, the efforts of the Helium Project are highly anticipated in Syracuse, as it is expected to bring new economic progress to the city. With VVC’s search for the right partner picking up speed, the citizens of Syracuse are excited to see how this new initiative will shape their city, in the years to come.