Press release
BATAVIA, NY – The Genesee County Economic Development Center (GCEDC) board of directors approved incentives for a $12.8 million renovation of an existing apartment complex in the City of Batavia at its October 1, 2020 board meeting.
Batavia Senior Housing Preservation, LLC’s project will invest approximately $21,400 per unit in hard construction costs assuring the apartment complex at 1 State Street remains viable as a safe and affordable housing option for low income seniors. Current residents will not be displaced during the renovation and construction.
The project has been approved for a private activity bond, sales and mortgage tax exemptions and a property tax abatement. The property tax abatement is limited to the increase in future value only. Project incentives are estimated at approximately $376,466.