Developer hoping for construction start on Ellicott Station in the spring
Developer Sam Savarino heads into the holiday season optimistic that once the weather clears in the spring he will finally be able to begin construction on Ellicott Station -- the restaurant/brewery, apartment, and office complex on the former Della Penna and Santy properties on Ellicott Street in the City of Batavia.
Savarino said within days, once the application window is open, Savarino Companies will submit an application for funding assistance to the state's Home and Community Renewal agency and he expects a determination to be reached in January sometime.
It was good news last week, he said, when he learned that the Department of Environmental Conservation had opened public comment period for expedited remediation of environmental contamination at the sites.
Work will begin with cleanup of contamination followed by demolition of a portion of the main Della Penna building (the front part) and the rest of the buildings on the two sites. Then construction of the restaurant and brewery for Resurgence Brewing Company in Buffalo will begin.
If all goes according to schedule, the total project -- including office space and 55 apartments -- will be completed in October 2021.
There's a significant change in the funding plan. Savarino initially intended to finance the $19 million project (now $1.4 million more than the earlier estimates) using a federal program known as the New Market Tax Credit, where investors could get a tax break for backing the project.
Savarino said the timing of the project no longer favors using the New Market Tax Credit program.
He said, "a lot more of my money" is going into the construction of the multi-use complex to ensure the project is fully financed.