Geneva is getting a new development, which will include a brand new Dunkin’ store.
The Geneva Industrial Development Agency and Local Development Corporation announced the development late-Wednesday in a press release. It will happen at the “Gateway Parcel,” which is a vacant lot located on the corner of E. North and N. Exchange streets.
Both boards came together to develop the parcel into a multi-tenant building with a Dunkin’ franchise as the anchor tenant. The property is being sold by the IDA to the developer, JFJ Holdings, LLC for $285,000.
This parcel will be fully taxable on the effective date of the sale, according to city officials. “The LDC and IDA have been working diligently together to turn a blighted property into a City asset. We are excited at the progress that has been made,” said Geneva LDC board chair, David Linger.
Both groups continue to actively pursue the goals of the City’s Brownfield Opportunity Area Nomination, which set in motion the IDA and LDC’s efforts to assist in activating this neighborhood commercial center.
“It has been a goal of our joint partnership to clean up this site and activate the City’s Brownfield Opportunity Area Nomination recommendation. The IDA and LDC negotiated a multi-tenant building with the goal of attracting a neighborhood-oriented tenant that could serve a local need, such as addressing food security issues in Geneva,” said Geneva IDA board chair, Anne Nenneau.
In addition to the secured anchor tenant, a 1,400 square foot retail space will be available for lease. Any organization or retailer interested in this space to serve a community need can contact Sage Gerling at [email protected] An introductory session with the City Planning Board will take place on Monday, April 19 at 7 p.m. with formal submission to the County and City Planning Boards later this Spring.
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