Oswego village officials are pleased with how fast construction is going on the second building at Shodeen Group’s The Reserve at Hudson Crossing luxury apartment complex in downtown Oswego.
“We expected them to go fast because Shodeen works fast,” Oswego Village President Ryan Kauffman said in talking about the project following the July 15 Oswego Village Board meeting.
In March, village officials along with the Shodeen Group celebrated the long-awaited groundbreaking for the project. Construction on the second building, or north building, had been expected to begin in February 2023, with substantial completion by August 2024.
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The delay on the second building was caused by various factors, including the COVID-19 pandemic, sharp increases to the price of construction materials and labor and rising interest rates.
Oswego Village Administrator Dan Di Santo said work on the second building is slightly ahead of schedule.
“The last I heard they had 60 people a day working on that site,” he said. “The project is going even faster than we thought it would. They’re already on the top floor.”
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Kaufmann said the new building will provide many benefits for Oswego.
“Those people are going to want to shop somewhere,” he said. “They’re going to shop somewhere, they’re going to eat somewhere, they’re going to spend their money somewhere. And that keeps the dollars here locally.”
Di Santo agreed.
“We have new businesses coming in the downtown and we have new people to shop at those businesses,” he said. “They work together hand in hand.”
The new building, being built on a vacant lot at Adams and Jackson streets, will feature 104 studio, one and two-bedroom apartments. A two-level parking garage with 123 spaces also is part of the plans.
The village would take ownership of the parking garage after it is constructed. The project is expected to be finished in the fall of 2026.
The first building at The Reserve at Hudson Crossing opened in 2021.
“It brought 339 public parking spaces, 176 apartments and they were all quickly occupied,” Di Santo had noted during the groundbreaking ceremony. “It was clear at that point that there was a strong market in Oswego for more luxury apartments in our downtown.”