GCEDC to Consider Pembroke Project
Written by Dan Fischer on May 5, 2020
News 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, 2020 board meeting.
Because of the COVID19 pandemic the meeting will be conducted via conference and on-line 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 2 acres in the park.
The project will add 17 market-rate, 1-bedroom and 2-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.
