43 projects throughout New York State are sharing in the $64.1 million allocated through the Restore New York Initiative.
The initiative aims to help local governments encourage commercial investments through community revitalization, increasing housing, and putting buildings back on the tax rolls.
“Revitalizing and rehabilitating vacant and blighted areas of our communities brings new energy and investments that support local and regional growth,” Governor Hochul said. “Restore New York helps our municipalities plan for the future by catalyzing economic growth and supporting housing, businesses and cultural spaces. We are further unlocking the potential of these sites and communities across New York.”
Below are area municipalities receiving funding.
Cayuga County
The City of Auburn has been awarded $1 million to support the rehabilitation and revitalization of 120 Genesee St, the former Chemung Canal Trust Company building. Being developed by Flaum Management Company Inc., and with an estimated cost of over $7 million, the goal is to transform the first and second floors into retail space while floors three through six will become an estimated 20 apartments.
The Village of Union Springs has received $200,620 for the demolition of a condemned building at the corner of Cayuga and Factory Streets in the village’s downtown. The owners intend to use DRI funding to build a new three-story mixed-use building consisting of commercial and residential space.
Ontario county
“City of Geneva – $1.5 million: This project involves the complete renovation of what is now known as 435 Exchange Street. These attached historic buildings, including 427 to 435 Exchange Street and 17-19 Castle Street, are now unified as one parcel/building. The developer is proposing to renovate the vacant upper floors into 5 one-bedroom and 10 two-bedroom. The facades on all buildings will be rehabilitated in keeping with their historic character. Seven ground-level commercial spaces (five of which are currently vacant) will also be renovated to support new businesses. The project will help to transform this gateway into the community and bring the now vacant buildings back to life.”
Steuben County
The Village of Bath will use $2 million in grant funding to convert the former Dana L Lyon School building, a building that has been vacant for over 20 years, into approximately 29 affordable housing units.
The Village of Wayland has been awarded over $1.2 million to assist in demolition efforts for properties on Main St that were destroyed as the result of a 2022 fire. Funding will assist the property owner/developer in their plans to construct 14,000 sq ft of mixed-use space that would include a licensed daycare facility, coffee shop, restaurant, and eight housing units on the upper floors.
Tompkins County
The City of Ithaca has been awarded $1.89 million to assist in the demolition and reconstruction of three contiguous properties and the development of apartments. Through the project will see two vacant commercial buildings totaling 7,900 sq ft demolished and replaced with a four-story approximately 29,000 sq ft apartment building with 24 units over ground-level enclosed parking.
Wayne County
The Village of Newark has also been awarded $1 million. The money will go toward the adaptive reuse of a 158,000 sq ft vacant building in the village’s downtown. New York adds that, as part of the Village’s Downtown Revitalization Initiative, the redevelopment will breathe new life into the site and include 101 apartments to increase Newark’s housing stock.
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