Tony Pauldine has been a developer in Oswego, NY for 35 years. Pauldine's first large project was King Arthur's Steakhouse & Pub. Then came Canal Commons and the second floor lofts above it. "At the time when Canal Commons was in the process of being developed, downtown was at 40% vacancy rate.” said Pauldine. The old Crazy Eddie's building was recently completed which was in “worse shape than the Cahill building” according to Pauldine and is now home to Edward Jones Financial Services,
Pauldine missed the first window of opportunity to bid on Cahill's building but the opportunity presented itself again in December 2014. Pauldine's offer has been on the table with the city for the last eight months. He recently addressed the common council in which Pauldine noted: “They were mostly unaware of my offer at all.” Currently, Pauldine believes that the city needs to move on a solution for Cahill's within the next two weeks in order to ensure the safety and preservation of the building for the coming winter.
Recently a wine merchant contacted Pauldine to inquire about space for restaurant that would allow for wine tasting to promote their winery. Additionally he was contacted by a restaurateur looking for a fish fry location. Pauldine believes that his plan for the restoration and preservation of Cahill's as “Cahill's Landing” will not only provide spaces for these two kinds businesses but leave the upper two floors available as a boutique hotel with twelve suites. “There is a need for additional long term leasing in Oswego.” said Pauldine, noting that King Arthu's Suites is at full capacity. Additionally, Pauldine has no vacancies at any of his locations including King Arthur's building which has just completed the lease for that space with CMOO (Children's Museum Of Oswego).
Pauldine has recently updated his offer with the city to include new city requirements of securing the roof now at Pauldine's expense, even though the legal dispute with the former buyer may not be concluded for several months. Pauldine agreed to those terms. Currently there is only one other offer (verbal), and that offer calls for the complete demolition of the building.
The engineers having inspected all areas of the building, have concluded that the north wall must be removed. Pauldine says that he will save all original stone and use it for refacing when rebuilding the north wall. Engineers said the wall is not in imminent danger of falling in. Pauldine believes that this entire process start to finish will take two years in order to preserve the building properly and cost in upwards of $1.2 million.
“I have never started a project that I didn't finish,“ said Pauldine.
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