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October 4, 2021 - 10:52am

GCEDC to consider assistance for $1.7 million project in Pembroke

posted by Press Release in GCEDC, pembroke, news.

Press release:

The Genesee County Economic Development Center (GCEDC) Board of Directors will consider a final resolution supporting a mixed-use development adding six market-rate units in the town of Pembroke at its board meeting on Thursday, October 7, 2021.

The proposed $1.7 million investment by J&R Fancher Property Holdings LLC would construct a 14,000 sq. ft. two-story building on 2.6 acres at the 67-acre Buffalo East Technology Park. The project would be located adjacent to Yancey’s Fancy’s facilities on Brickhouse Drive.

The 14,000 sq. ft. project includes a 7,000 sq. ft. flexible layout for commercial tenants on the first floor and six 1-bedroom and 2-bedroom apartments on the second floor.

The project has requested $254,336 of sales, mortgage, and property tax assistance. The project is estimated to create a 4-to-1 return on investment for Genesee County in addition to increased commercial and residential benefits in the town of Pembroke.

A public hearing on the proposed agreement will be held at 4 p.m., October 5 at the town of Pembroke offices, 1145 Main Road.

October 7, 2021, the GCEDC Board meeting will take place at 4 p.m. at 99 Med-Tech Drive.  A livestream and on-demand recording of the meeting also will be available at www.gcedc.com.

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