Auburn May Seek Public Funds For Downtown Building Renovation From Developer | Policy

The Auburn City Council is due to vote next week on whether to apply for a state grant that would help fund a developer’s downtown building restoration project.

At a Thursday night council meeting, a public hearing was held regarding the city’s potential application for Empire State Development Funding through Restore NY Community Initiatives to rehabilitate 22 E. Genesee St. The city is reportedly requesting $1.75 million to help R&M Real Estate Group redevelop the three-story, 13,000-square-foot property in Auburn’s downtown business improvement district.

According to the city “Intent to Apply” notice to the State, the building has been vacant for years and has fallen into disrepair. R&M, which has redeveloped various downtown properties in recent years, plans to convert the property to mixed use, with commercial space on the first floor and apartments on the upper floor.

People also read…

The document says the renovations will include new plumbing, electrical, HVAC and sprinkler systems, windows, bathrooms and kitchen for the apartments and an “updated facade consistent with the building’s historic past.” “.

The total estimated cost of the project is $2.58 million. Built in 1970, according to Cayuga County real estate records, the property is currently valued at $88,300.

At Thursday’s hearing, R&M’s Joe Bartolotta said the company bought the property about four years ago, “with the idea of ​​renovating it in 2020”. However, the COVID-19 pandemic prompted the band to put the project on hold, he said.

“Once we came out of the pandemic, and continue to come out of the pandemic, the state of the economy changed dramatically. Material prices went up, supply chains were disrupted, entrepreneurs are hard to find, if not impossible to find, and interest rates on commercial loans have skyrocketed recently, causing us to reconsider the feasibility of the project,” Bartolotta continued. “We hope this Restore New app York will come to fruition and allow us to move this project forward again, so we appreciate the city for moving this app forward on behalf of the project.”

Many nearby business owners on East Genesee Street between John Street and Seminary Avenue, commonly known as East Hill, have signed a petition expressing their support for the project and the grant application, Bartolotta said.

After Bartolotta finished speaking, Stephanie DeVito, executive director of the Business Improvement District, said she was supportive of the bid and the project. She said “the Bartolottas have done a phenomenal job renovating space on East Hill and creating retail businesses on East Hill”.

Council members did not ask Bartolotta or DeVito any questions. The city’s application requires approval from city council, which is expected to vote on a resolution authorizing the city’s application for the grant program at its Sept. 22 meeting.

Managing Editor Kelly Rocheleau can be reached at (315) 282-2243 or [email protected] Follow him on Twitter @KellyRocheleau.

Comments are closed.