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$1.74 Million Market-Rate Housing Project on GCEDC February Agenda

Posted by admin at 10:17 AM on Jan 31, 2022


BATAVIA, NY – The Genesee County Economic Development Center (GCEDC) Board of Directors will consider a final resolution for a proposed $1.74 million housing development investment by Franklin Real Estate and Development at its board meeting on Thursday, February 3, 2022.

The project is proposing to construct two 8-unit market-rate apartment buildings located south of Buffalo East Tech Park on Alleghany Road in the town of Pembroke. The multi-unit buildings will include one 1-bedroom apartments and seven 2-bedroom apartments.

A public hearing on the proposed project assistance will be held February 1st, in the town of Pembroke at Pembroke Town Hall.

Franklin Real Estate and Development is requesting $243,402 in sales, mortgage, and property tax incentives. The project is estimated to generate $7 of economic benefits for every $1 of proposed assistance.

The February 3, 2022, GCEDC Board meeting will be held remotely at 4 p.m. and will be livestreamed at vimeo.com/669832581.

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