MedTech Landing, LLC development supports Batavia Home Fund
Press release
BATAVIA, NY – The Genesee County Economic Development Center (GCEDC) board of directors advanced an initial resolution for a proposed market-rate housing development on MedTech Drive in the town of Batavia at its board meeting on Thursday, January 11, 2024.
MedTech Landing LLC plans to invest $15 million to construct 100,000 sq. ft. of apartment buildings totaling 80 units. The project is comprised of six buildings with a dozen one-, two- and three-bedroom units, and one 8-unit building, along with 6 six-car garages.
The project aligns with the GCEDC’s Housing Policy #1 and a recognized need for housing availability. The Genesee County Housing Needs Assessment identified in 2018 that 4,800 units were needed in the next 20 years across single family homes and rental units.
“In 2022, Governor Hochul and New York enacted an ambitious goal of preserving and creating 100,000 units of housing over the next five years, we aim to be a part of the proposed solution, especially with the growing demand our community has experienced because of a strong business growth by the private sector,” said GCEDC President and CEO Steve Hyde. “The GCEDC is pleased to work with our partners in the Town and City of Batavia to grow both the market-rate housing proposed by MedTech Landing, LLC and housing improvements through the Batavia Home Fund.”
MedTech Landing LLC is seeking a sales tax exemption estimated at $720,000, a property tax abatement of approximately $3,031,048, and a mortgage tax exemption of $120,000. It is estimated that $12 of economic impact will be generated for every one dollar of public sector investment.
The project will generate up to one million dollars over 20 years that will be dedicated towards the Batavia Home Fund (BHF) which was created to address shared housing goals and establish methods to fund beneficial activities to enhance the area’s housing stock. The BHF is a collaboration between the Town and City of Batavia and the GCEDC.
A public hearing for the proposed project agreements will be scheduled in the town of Batavia
Link to video of meeting:1.11.24.GCEDC.Board on Vimeo
