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253 Arsenal St - 218 Stone Street - Former Mercy Hospital Site 9.79 Acres of Commercial Land Offered at $3,500,000 in Watertown, NY 13601
Investment Highlights
- Average House Hold Income $75,622
- Located at the intersection of Arsenal and South Massey Streets; the gateway to the City center
- Located in close proximity to Fort Drum US Military Installation
- Average Area Population 375,36
- Shovel Ready
- Main parcel along Arsenal is 5.7 Acres, back parcels off Stone Street are an additional 4 Acres
Executive Summary
A Place That Once Cared for a Community...
...Now Ready to Help Build One.
For more than a century, this site was known as Mercy Hospital.
From its humble beginning in 1894 as Sisters Hospital, with just 15 beds, generations of physicians, nurses, and caregivers served Northern New York from this very location. For more than 120 years, families celebrated births, endured loss, found healing, and experienced hope within its walls.
When Mercy Hospital closed and the buildings were demolished in 2014, a chapter of Watertown's history came to an end.
What remained was something extraordinarily rare.
Nearly 10 acres of shovel-ready land in the heart of downtown...waiting for its next purpose.
The Opportunity
Today, the former Mercy Hospital campus offers the opportunity to create something every bit as meaningful as what once stood here.
Not another hospital...
But a neighborhood.
A place where families can purchase their first home.
Where businesses can grow.
Where people once again come together to live, work, and invest in Downtown Watertown.
A Vision for the Future
The site naturally lends itself to two complementary forms of development.
Residential Neighborhood
Parcels B, C, D, E, F, and F-2 provide an outstanding opportunity for thoughtfully planned single-family housing, including affordable and workforce homes that strengthen the fabric of the surrounding neighborhood.
Imagine tree-lined streets...
Front porches.
Children riding bicycles.
Neighbors gathering outside.
A community once again taking shape where healing once occurred.
Commercial Gateway
Parcels A and A-1, with their excellent visibility and access, offer exceptional opportunities for commercial development, neighborhood services, medical offices, professional offices, retail, hospitality, or mixed-use projects that complement the surrounding residential community.
Together, these parcels create a balanced vision that serves both economic development and community growth.
Why This Site Matters
Downtowns are rarely given a second chance.
Large redevelopment sites with municipal infrastructure already in place are almost never available.
The former Mercy Hospital campus represents one of those rare opportunities where history, location, and vision intersect.
The next chapter has not yet been written.
It will belong to someone with the vision to see what this property can become.
Some buildings are replaced. Others are reborn.
Property Facts
1 Lot Available
Lot
| Price | $3,500,000 | Lot Size | 9.79 AC |
| Price Per AC | $357,507.66 |
| Price | $3,500,000 |
| Price Per AC | $357,507.66 |
| Lot Size | 9.79 AC |
Shovel Ready Site consisting of 9 lots in the city of Watertown, NY totaling 9.79 acres Parcels A and A1 are zoned Commercial District CD Parcels B, C, D, E, F, F1, and F2 are zoned Residential “C” District RC
Description
Mercy Heights is an 9.8 acre shovel ready site, located at the intersection of Arsenal and South Massey Streets; the gateway to the City center. COR purchased the Mercy Hospital property in 2013. The former Mercy Hospital occupied 9 multi-story buildings consisting of approximately 377,000 square feet and 7-acres. The original buildings were constructed at various times between 1938 and 1983. Through collaborative efforts with State and local government COR has completed significant environmental remediation and raised all of the existing structures preparing the site for new development. This approx. 5.7 Acre block has been approved for the first phase of development to include 34,000 SF of commercial space in (2) two-story buildings fronting Arsenal Street, 108 integrated market rate and affordable apartments along South Massey and Stone Streets and a 5,500 SF community building on Sherman Street for use by the residents and the existing St. Patrick’s Parish. On-site parking is located internal to the block to support all planned uses including the Church. Directly adjacent to the site, across Stone Street, is an additional 4 Acres that can expand the development with up to 22 for-sale single family townhouses, 28 patio homes and community space.
Presented by
Great Lakes Realty LTD
253 Arsenal St - 218 Stone Street - Former Mercy Hospital Site
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