GSBDC Finances Building for Funeral Home

Posted 09.02.11

Loan: SBA 504

Donald and Theresa Hulchanski recently purchased and renovated a former office building at 5854 Belle Isle Rd, Camillus, NY for the relocation of Whelan Bros. & Hulchanski Funeral Home which has been owned by Donald Hulchanski since 2005.

Previously operating from leased space at 3700 W. Genesee Street, the new property is only ½ mile away and offers ample parking with easy access to major highways as well as reduced congestion typical of West Genesee Street in Camillus.

Named Victoria Park, the facility was initially constructed in 1882 and showed great potential for use as a funeral home.  Renovations included installation of a casket lift, fire suppression system, landscaping and additional parking.

The purchase of the two-story building was made possible through the assistance of Solvay Bank and the Greater Syracuse Business Development Corporation (GSBDC).  To assist with the building acquisition GSBDC provided a fixed-rate SBA 504 loan for 32% of the project costs.   A provision of the economic stimulus program provided relief from a large portion of the SBA fees.

According to Donald Hulchanski, president, “Our new location has everything needed to successfully grow our business.  It is completely handicap accessible with ample parking, two chapels, lounge, kiosk casket display room, a large wrap around porch and gazebo. We strive to meet the needs of the community in which we live and work, serving families with compassion and integrity. In 2014 Whelan Bros. & Hulchanski Funeral Home will celebrate 100 years of service, as a family owned and operated business.”  Renovations outside of the 504 project were made to the second floor where the Hulchanskis will reside.

Solvay Bank provided 52% of the project financing, 40% in a first mortgage position in conjunction with the 504 program.   According to Dennis Coon, Vice President of Solvay Bank, “After visiting the new site for the first time, I saw the potential it had for a funeral home. The previous owner paid very close attention to detail throughout the building. Don and Terry, were involved from Day One, even providing their own ‘sweat equity’ at times. With the support of GSBDC, the result was “a dream come true” for the Hulchanskis.”

Whelan Bros. & Hulchanski Funeral Home currently employs 2 full time employees and is expecting to add 3 additional employees over the next two to three years.