Governor Cuomo’s $10 Million DRI Investment in Batavia is Part of a Strategic Goal to Enrich and Improve the Quality of Life in the Entire Region
New York – RealEstateRama – The New York State Department of State today announced the start of construction for a $1.1 million redevelopment project in the City of Batavia. This project, awarded through Batavia’s DRI Building Improvement Fund, will rehabilitate a three-story, 7,500 sq. ft. building built in 1865, in downtown Batavia. Batavia’s downtown area is a mixed-use, affordable neighborhood with access to jobs, anchor businesses, and city and county services.
“Our Downtown Revitalization Initiative is transforming communities statewide by empowering local stakeholders to put forward their best ideas on economic development based on collaboration and shared purpose,” said Lieutenant Governor Kathy Hochul. “Batavia is uniquely positioned between two major urban areas, but has carved out its own identity with projects like 99 Main Street. These projects will attract new people with a new life, energy and sense of pride, and help New York build back better for a post-pandemic future.”
The renovation and redevelopment of this historic building will include a new storefront, façade and reconstruction of the existing three floors. A dental practice will reside on the first floor with the second floor being developed for commercial office space. The third floor will include 2 two-bedroom market-rate apartments.
The redevelopment of this historic building is part of the DRI award for the Building Improvement Fund, which provided the city with the resources to award building improvement projects in the downtown. The award from the Fund is $137,600 with a total estimated project cost of $1,165,000. The Fund is operated locally by the Batavia Development Corporation and administered by New York State Homes and Community Renewal. The Genesee County Economic Development Center also supported the redevelopment through mortgage and sales tax incentives of $63,500. Neppalli Holdings, LLC will also invest nearly $1 million to renovate the building as part of the public- private partnerships for DRI.
Secretary of State Rossana Rosado said, “The Batavia’s Downtown Revitalization Initiative is becoming a reality and it will bring a new look and way of life for residents to live, work and play in their business district. The Building Improvement Fund award provides an opportunity for economic investments in Batavia through the redevelopment of its business district, attracting a new generation of social and commercial enterprises to the city. This project is a testament that hard work and dedication, even in these unprecedented times, can yield progress and a bright future.”
NYS Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Through Governor Cuomo’s Downtown Revitalization Initiative, we are working directly with communities across the state to implement targeted economic development projects like this one that expand housing opportunities, enhance the downtown streetscape, and create a more lively and walkable commercial district. Batavia’s Building Improvement Fund will utilize $138,000 in DRI funds to transform this historic property at 99 Main Street into a beautiful mixed-use building with new office space and two apartments on the third floor. By supporting local efforts to strategically improve downtown districts with state resources, we are breathing new life into Batavia, the Finger Lakes Region, and beyond.”
Senator Michael Ranzenhofer said, “I am very happy that Batavia was chosen for this project. Investing in our Upstate communities is extremely important and this funding will help further the growth and redevelopment we have seen in Batavia.”
Assemblyman Stephen Hawley said, “Thanks to smart and expansive developments, Batavia will grow into an even greater destination and hub for Western New York than ever before. From the addition of a new performing arts center to the revitalization and renovation of a commercial hub to the continued development and upgrading of downtown, Batavia is poised to be a bastion of community and comfort for the area. This investment will go a long way towards the continued fostering of community and cooperation for years to come.”
Batavia City Council President Eugene Jankowski, Jr said, “The DRI award is critically important in our efforts to revitalize downtown Batavia. It’s vital that we continue working with our partners at the state and local level to continue the momentum of the private and public sector investment in the county’s urban core.”
Batavia Development Corporation Board President Lori Aratari said, “The Building Improvement Fund created through the DRI provides grant funding for applicants to implement interior and exterior building improvements in Batavia’s Business Improvement District (BID) for commercial and mixed-use structures. This project exemplifies how we are using this fund to fill vacant and under-utilized structures in the city.”
Genesee County Legislature Chair Shelley Stein said, “The Genesee County Legislature recognizes the importance of the economic vitality of the city of Batavia for our county and region. I am especially pleased to see all levels of government working so closely in our efforts to bring private sector investment to the city.”
Genesee County Economic Development Center President and CEO Steve Hyde said, “To have so much support from so many leaders in the community gives me confidence that our project will be a great success and I hope will encourage others in the private sector to seek investment opportunities in Batavia. I want to thank all of our government partners for their continued support and collaboration in our collective efforts to encourage private sector leaders such as Dr. Neppalli to invest in Batavia.”
Batavia was named a DRI Round 2 winner. The downtown area is a mixed-use, affordable neighborhood with access to jobs, anchor businesses, and city and county services. The area has an excellent foundation upon which to continue its revitalization, including amenities such as recreational sites, healthcare facilities, food markets, a library, and various retail and restaurant venues in a walkable environment.
The Strategic Investment Plan for downtown Batavia is working closely with private partners and local assets to implement the other eight projects awarded. These projects alongside all of the projects that will be awarded through the DRI Building Improvement Fund will create opportunities for economic development, transportation, housing, and community projects that align with the community’s vision for downtown revitalization and that are ready for implementation. The downtown Batavia Strategic Investment Plan is guiding the investment of DRI grant funds in revitalization projects that advance the community’s vision for its downtown and that can leverage and expand upon the state’s $10 million investment.
About the Downtown Revitalization Initiative
In 2016, Governor Andrew Cuomo launched a major new initiative—the Downtown Revitalization Initiative (DRI). Through the DRI, the Governor moved to aggressively accelerate and expand the revitalization of downtowns and neighborhood to serve as centers of activity and catalysts for investment in all ten regions of the state. The DRI represents an unprecedented and innovative plan-to-act strategy that couples strategic planning with immediate implementation.
In the first four years of the DRI, the State has committed $400 million to invest in downtowns that are ripe for revitalization and have the potential to become magnets for redevelopment, business, job creation, greater economic and housing diversity, and opportunity. Participating communities are nominated by the state’s ten Regional Economic Development Councils based on the downtown’s potential for transformation, and each community is awarded $10 million to develop a downtown strategic investment plan and implement key catalytic projects that advance the community’s vision for revitalization. The DRI is chaired by New York Secretary of State Rossana Rosado. Communities receive support from private sector experts and a team of state agency staff led by the Department of State in close partnership with Empire State Development, and NYS Homes and Community Renewal. Other agencies are also involved in reviewing and implementing projects.
Accelerating Finger Lakes Forward
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $8 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here.