Paramount Realty Group was formed in 2001 with the vision to create a vibrant urban community by developing quality residential living and adding substantial retail to downtown Syracuse. With over forty years of combined real estate experience, Richard DeVito and Robert Doucette have a deep understanding of the real estate industry and this insight has allowed them to successfully acquire over 500,000 square feet of residential, retail and office space.
Paramount Realty Group specializes in adaptive re-use projects in downtown areas. The goal is to preserve and restore historically significant buildings while revitalizing these properties to their full potential and best use. Paramount then seeks out the best retailers not only for the building but for the surrounding area to encompass the philosophy of urban revitalization.
Looking forward, Paramount Realty Group will continue to acquire and redevelop mixed use buildings in urban areas located in the upstate New York region.
Robert Doucette is a cofounder and partner of Paramount Realty Group and President of Armory Development & Management. With 30 years of real estate experience, Mr. Doucette has been a pioneer in the downtown revitalization efforts in Syracuse, NY. His most notable projects include the redevelopment of the Labor Temple Building, Hogan Block Building, Center Armory Complex, Loews Building, and his most recent accomplishment of redeveloping the 250,000 square foot Deys Plaza Building. Mr. Doucette also serves as a consultant to city governments and private companies interested in urban revitalization and mixed use development.
In addition, Mr. Doucette is an adjunct professor at LeMoyne College’s Sociology and Urban Studies Departments and Syracuse University’s Whitman School of Management where he teaches real estate development. He also has experience in the fields of mental health and law prior to his work in real estate and urban studies. Mr. Doucette holds his bachelors degree from Lemoyne College and his Master of Public Administration and his Juris Doctorate from Syracuse University.
Mr. Doucette has won several awards for his work in the Armory Square District of Syracuse and he serves on boards of several organizations. His volunteer activities include Syracuse 2020, the Downtown Committee, Syracuse Opera, Onondaga Environmental Institute, and Catholic Charities. He lives in Syracuse, NY with his wife Katie and has two children, Erin (Condron) living in Boston, and Sarah living in NYC.
Richard DeVito has over 28 years of experience as a developer, real estate broker, and consultant. Richard is a founding member and partner in Paramount Realty Group, which has recently completed the redevelopment of Dey’s Plaza, a 250,000 square foot office building into a mixed use property with 45 luxury apartments, 100,000 square feet of class A office space, ground floor retail and a 12,500 square foot food market to be known as Deys Fresh Market.
Mr. DeVito’s other development experience includes the redevelopment of the Loews Building, a 70,000 SF historic office building for mixed use, including the creation of 24 luxury condominium units in Syracuse, New York. Prior to joining Paramount Realty Group, Mr. deVito was employed at Cornell University’s Real Estate Department, where he was charged with the development and marketing of the Cornell Business & Technology Park. While at Cornell, Mr. deVito rezoned the 300 acre development site from industrial/research use to mixed-use zoning, for hotel, general office, medical, light manufacturing, and residential uses. Mr. deVito brought over 60 new firms to the Park in addition to over 200,000 square feet of new space. He also headed the site approval process for a hotel, office, recreation area, and residential housing, which included multi-family and single family development.
In addition to Mr. DeVito’s development work, he continues to act as a commercial broker. Richard has represented several major organizations as a broker and consultant, including Amica Insurance, Cornell Medical College, Cornell University, IBM, VNU (Dutch Publishing Company), Xerox, and many others.