The Village of Newark has released details on how it will use the $1 million it was awarded last week through the State’s Restore New York Communities Initiative. The money will be used to support the adaptive reuse of 158,000 square feet of vacant, historic property in downtown. As part of the Village’s Downtown Revitalization Initiative, the redevelopment will revitalize a large vacant building and include 101 apartments, creating more housing options for individuals and families who want to live and work in the Wayne County village.
Restore New York supports municipal revitalization efforts with funds to help remove and reduce blight, reinvigorate communities and generate new residential and economic opportunities statewide. The program, administered by Empire State Development, is designed to help local governments encourage new commercial investments through community revitalization, growing local housing, and putting properties back on the tax rolls to increase the local tax base.
Village of Newark Mayor Jonathan Taylor said, “I am excited about this grant. As a Pro-Housing community, we are looking forward to Coventry Commons and the additional housing it will bring to Newark. This project is important to the village’s downtown Revitalization.”
“Once again New York State delivers to our community, said Assemblyman Brian Manktelow. Investing in our downtown areas is an investment in our friends and families. That is something I will always appreciate. The ability for friends and families to stay in their own community is something we should cherish. I applaud the initiative of Mayor Taylor and the Village Board for moving forward with this project.”
State Senator Pam Helming stated, “It’s important that we continue to work to increase access to housing for families and workers in our communities. These projects provide stability and opportunity for residents and small businesses and support a growing economy and tax base. I was proud to support the Village’s grant request and I congratulate Mayor Taylor and his team.”
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