Gutting Resumes at Graystone
Several BR readers have asked what is going on at the Graystone Hotel where a construction chute recently made an appearance. According to owner Carl Paladino, CEO of Ellicott Development, they are â€ścleaning trash out ofâ€ť the building. In March, Ellicott revived plans to renovate the six-story building on Johnson Park into market-rate, upscale apartments.
Carl Paladinoâ€™s Ellicott Development purchased the property at 24 Johnson Park in March 2002. with plans to convert the complex into apartments. Work came to a halt after a worker fell through an upper floor while gutting the property. Several redevelopment plans for the property have been floated since, none moving off the drawing board.
Though signs of work are promising, renovation work is not assured. Paladino says he â€śwon't build until spring and only if economy isn't in the shitter.â€ť
The neighborhood has gotten stronger since Ellicott Development purchased the property. Issaâ€™s troubles aside, a wave of over $300 million in public and private sector investment has recently been completed or is underway along Delaware and South Elmwood avenues. There also happens to be a lull in downtown residential development.
Opened in 1897, the former Berkeley Hotel was designed by Carlton Strong. The columned building is an early example of reinforced concrete construction. It is on the National Register of Historic Places.