Crews are in the final stages of finishing up a major renovation of the former C.G. Meaker building off of Erie Boulevard West. Come June 1, tenants will be moving in to 538 Erie.

"It's been a great mix so far," explained Acropolis Property Management Director of Leasing TJ Perkins. "It's been a little bit of a younger crowd, and we expected that. Some empty nesters, some younger professionals who don't have families yet."

It's just the latest example of a historic building being re-developed. Once complete, the former warehouse will be home to 33 apartments, just minutes away from the heart of downtown.

"There's a huge demand for apartments around downtown," Perkins explained. "So the developers are buying these vacant offices, vacant industrial buildings and building these gorgeous new apartments in them."

Industry leaders say that demand to live downtown is benefiting everyone, including local businesses. 

"We have so many great retail boutiques, places to step out and have lunch, places to have dinner, located within 82 blocks," said Alice Maggiore of the Downtown Committee of Syracuse. "So we're really seeing downtown become the center of the city and downtown that people want [it] to be. It's vibrant and very welcoming."

With a 99 percent occupancy rate and more people expected to move into the area the next few years, officials expect the trend to continue. 

"People want that urban quality of life where you get diversity and a diverse set of experiences and different types of people," added Syracuse Mayor Stephanie Miner. "And we've been able to build off of that downtown. It's been very exciting."