City of Oswego Secures State Funding for Ponzi Building Restoration 

OSWEGO – Mayor Corradino is pleased to announce the City of Oswego has secured significant state funding to advance the stabilization and restoration of the historic Ponzi Building located within Fort Ontario.

In 2024, the City of Oswego applied for Empire State Development’s Capital Improvement Grant through the Regional Economic Development Council Initiative as part of New York State’s Pro-Housing Program. The grant application focused on stabilizing and restoring the Ponzi Building, a historically significant structure within Fort Ontario along the City’s Lake Ontario waterfront.

Recognizing Fort Ontario’s growing prominence, including its consideration for National Park status, the city identified the Ponzi Building restoration as a critical investment in preserving local history while expanding tourism and economic development opportunities. The total project cost is estimated at approximately $4 million.

The city committed funding toward the project and actively pursued grant funding to close the remaining gap, prioritizing fiscal responsibility and avoiding additional tax burdens on residents. In December 2024, the city was awarded $1,000,000 through Empire State Development. Building on that momentum, the city reapplied for the same grant in 2025 and, in December 2025, was awarded an additional $775,000.

With nearly $1.8 million in state funding secured, the city is now approximately halfway toward full project funding. Mayor Corradino and City leadership continue to actively pursue additional funding opportunities to bring this transformative project to completion.

The Ponzi Building is located within Fort Ontario, a New York State Historic Site and a centerpiece of Oswego’s Local Waterfront Revitalization Plan (LWRP) and Downtown Revitalization Initiative (DRI) planning area. The project directly supports the City’s long-term goals of strengthening the waterfront, expanding recreational and cultural amenities, and stimulating economic growth through tourism and mixed-use development.

Constructed in 1904–1905, the approximately 7,000-square-foot Ponzi Building has served the community in many capacities over more than a century. It has functioned as a post exchange and gymnasium for U.S. Army regiments, including the Buffalo Soldiers and the 369th Harlem Hellfighters; housed nearly 1,000 Jewish refugees fleeing the Holocaust during World War II; served as the City’s first school for individuals with developmental disabilities; and later operated as a community recreation center. The building’s restoration preserves this legacy while positioning it for renewed public use.

The stabilization and rehabilitation of the Ponzi Building represents more than a construction project; it is an investment in Oswego’s history, identity, and future. As Fort Ontario continues to gain regional and national recognition, the city anticipates this project will enhance quality of life, foster community pride, and contribute to long-term economic growth throughout Oswego.

For more information on the Ponzi Building restoration project, residents are encouraged to follow City of Oswego website and Facebook page.

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