BATAVIA — About $12.8 million in renovations to a State Street apartment complex for low-income seniors is expected to get underway this winter and be done by the end of next year, the Genesee County Economic Development Center (GCEDC) has said.
Batavia Senior Housing Preservation, LLC, is investing in the renovations.
“The proposed renovation, which is expected to include $21,400 per unit in hard costs, will assure the project remains viable as a safe and sanitary housing option for low income seniors for years to come. Residents will not be displaced during the rehabilitation,” the GCEDC said in a Uniform Tax Exemption Policy (UTEP). “The project offers 130 units to seniors 62-plus. All 130 units benefit from Section 8 rental subsidy. Current residents will not be displaced during the renovation and construction.”
Of the 130 units, 16 are handicapped units. The renovations consist of a single, six-story, elevator-serviced building at 1 State St.
“Having this facility that is almost 50 years old upgraded and the apartments renovated as proposed with this project would probably only happen if a new buyer comes in. This type of existing asset is crucial to have in our community as it gives seniors a place to age without having to stay in their homes,” the GCEDC said in the UTEP. “If they were to stay in their homes … their homes are not renovated or are modified for special needs such as handicap-accessibility. All of these factors significantly drive down housing values and do not provide an opportunity for working-class families to start in a modest home.
The GCEDC Board of Directors approved incentives for the project Thursday. The GCEDC will assist with incentives amounting to $376,466, including private activity bond, sales tax exemption, mortgage tax exemption and a property tax abatement program for the increase in future value only.