Batavia, NY (2018)

Ellicott Station Project

Investment

NMTC Amount: 8,000,000

Total Project Cost: 17,745,667

IMPACT

160 FTE jobs

145 construction jobs

Project Description

Construction, renovation, partial demolition, and reconstruction to a former factory building to be converted to a mixed use facility with commercial and residential tenants. Ellicott Station is a key economic development project in Batavia, Genesee County and downtown Batavia. It is a designated a Strategic Brownfield Opportunity Area Strategic Site that, if redeveloped, will have a catalytic impact on downtown Batavia and adjacent distressed residential neighborhoods. However, Ellicott Station is on a contaminated brownfield site that needs to be remediated before it is redeveloped. The contamination not only adds to the cost of the Project, but it also increases the risk for some banks. Consequently, the rates offered by banks are higher and the rate of return on the Project, with added cleanup costs, is not favorable.

The City applied to ESD for funding to offset the costs associated with the redevelopment and remediation to make the Project financially feasible for the developer. In addition, the infusion of Restore NY funds, which have been awarded to the Project, will provide confidence to banks and others to invest in the Project by spreading and reducing the risk. This funding will further the on-going strategy to build and sustain healthy neighborhoods by leveraging a variety of public and private resources.

The $20M project features the reuse of an existing factory structure as both an entertainment destination and production facility focusing on a locally inspired brewery, outdoor beer garden and complementary office and retail space. Plans also include two newly constructed mixed use structures and associated parking. Also a playground

MAP

40-70 Ellicott Street, Batavia, NY 14020

Related Projects

2018

Rego Park, NY

Financing for the construction and renovation of five ALDI food stores in various regions of New York State; purchase…
2018

Massena, NY

Financing for the construction and renovation of five ALDI food stores in various regions of New York State; purchase…