Prendergast Landing at the corner of Fairmount Avenue and West Eighth Street
The City of Jamestown plans to apply for state funding for two redevelopment projects.
The Jamestown Department of Development put out a notice of its intent to apply for Restore New York grant funding for the property at 106-108 Fairmount Avenue, also known as Prendergast Landing, and for the Furniture Mart Building located at 111 West Second Street.
Jade Empire LLC has proposed renovating the 12,000 square foot building on the corner of Fairmount Avenue and West Eighth Street into a business incubator that has retail on the first floor, a co-work space on the second floor, and short-term rental apartments on the third floor.
The project has already received a $187,500 Consolidated Funding Application award through the State’s Regional Economic Development Council.
Jade Empire owner Rahsaan Graham has also applied for property tax and sales tax abatements through the Chautauqua County Industrial Development Agency.
On April 17, the Jamestown Local Development Corporation has on its agenda a resolution to approve ARPA Business Incubator funding for the project as well.
The Furniture Mart building on the corner of Washington and W. Second Streets in Jamestown.
The City has previously applied for $2 million in Restore New York funding for the 172,217 square foot Furniture Mart Building in 2023, but were not awarded those funds. The project does have funding in the form of a $1.34 million Empire State Development grant for whoever may be the next to take on development of the property.
The Restore NY Communities Initiative grant’s goal is to revitalize commercial and residential properties; and encourage community development and neighborhood growth via redevelopment of vacant, condemned, or abandoned buildings. The maximum grant amount is $2 million.
Leave a Reply