Press release:
The Genesee County Economic Development Center (GCEDC) Board of Directors will consider a proposed $3 million mixed-use project at the Buffalo East Technology Park in the Town of Pembroke at the GCEDC’s May 7 board meeting.
Because of the COVID-19 pandemic, the meeting will be conducted via conference and online at www.gcedc.com.
The proposed $3 million project by J & R Fancher Property Holdings LLC would include a 32,254-square-foot, three-story facility to be constructed on two acres in the park.
The project will add 17 market-rate, one-bedroom, and two-bedroom apartments on the second and third floors, and an interior space comprised of four spaces for commercial tenants, as well as indoor parking and a fitness center.
This is the third project with a residential component that is seeking incentives from the GCEDC board in 2020. The addition of 17 market-rate apartments would bring the total number of new residential units to 82 in the County. The capital investment of the residential projects is $31.6 million.
J & R Fancher Property Holdings LLC is requesting approximately $615,924 of property, sales, and mortgage tax incentives. The project is estimated to produce $5.50 of economic impact for every $1 of proposed incentives.
If the project’s application is accepted, a public hearing would be held in advance of a final resolution for project incentives.
