The Genesee County Economic Development Center (GCEDC) board of directors will consider an initial resolution for a proposed market-rate housing development on MedTech Drive in the town of Batavia at its board meeting on Thursday, Jan. 11.
MedTech Landing LLC plans to invest $15 million to construct 100,000 sq. ft. of apartment buildings totaling 80 units. The project is comprised of five buildings with a dozen one-, two-, and three-bedroom units and one 8-unit building, along with 6 six-car garages.
The project aligns with the GCEDC’s Housing Policy #1 and a recognized need for housing availability. The Genesee County Housing Needs Assessment identified in 2018 that 4,800 units were needed in the next 20 years across single-family homes and rental units.
MedTech Landing LLC is seeking a sales tax exemption estimated at $720,000, a property tax abatement of approximately $3,031,048, and a mortgage tax exemption of $120,000. It is estimated that $12 of economic impact will be generated for every one dollar of public sector investment.
The project would also generate up to one million dollars over 20 years that will be dedicated towards the Batavia Home Fund (BHF) which was created to address shared housing goals and establish methods to fund beneficial activities to enhance the area’s housing stock. The BHF is a collaboration between the Town and City of Batavia and the GCEDC.
“As we all know, there is a housing crisis across New York State, and resolving it requires innovation and collaboration, and BHF is a unique way for our community to address our housing needs,” said Batavia City Manager Rachael Tabelski. “As we continue to revitalize our downtown core and infill areas adjacent to the town of Batavia, we are confident that the BHF will encourage developers and homebuilders across the region to invest here.”The Batavia Home Fund is being supported by host benefit agreements with developers and homebuilders for future multi-family housing projects in the City and Town. Projects will be considered by a committee of City, Town and GCEDC officials to determine how funds raised will be utilized.
“As the agricultural, commercial, and industrial sectors continue to grow in the Town and surrounding communities, it’s important that the workforce needed to fill these jobs have good housing options like the ones that MedTech Landing will provide,” said Town of Batavia Supervisor Greg Post. “An important component of this effort is refurbishing and rehabilitating existing housing structures, and this development will contribute to that effort through the BHF.”
If MedTech Landing LLC’s application is accepted, a public hearing will be scheduled on the proposed agreement in the town of Batavia.
The Jan. 11 GCEDC board meeting will be held at 4 p.m. at the MedTech Center’s Innovation Zone, 99 MedTech Drive, Batavia. Meeting materials and links to a live stream/on-demand recording of the meeting are available at www.gcedc.com.