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Home » News » Five transformative projects unveiled as part of Newark’s $10M DRI victory

Five transformative projects unveiled as part of Newark’s $10M DRI victory

  • / Updated:
  • Samantha Parish 

The state announced five transformational projects in the Village of Newark as part of the $10 million Downtown Revitalization Initiative Award. The awards encourage a sense of place where residents and visitors can participate in a range of recreational opportunities, interact with the Erie Canal waterfront, attend local events, and enjoy everyday living. 

“We are reinvigorating downtown communities across New York State, creating more accessible and affordable places to live,” Governor Hochul said. “As an Erie County native, I know the impact that funding for these local improvements will have in the Village of Newark, allowing visitors and residents alike to better access recreational opportunities, public spaces, and other amenities.” 

Finger Lakes Partners (Billboard)

With this DRI award, the Village of Newark can leverage the Erie Canal as a vital asset in establishing an active, year-round cultural hub in the Finger Lakes region. Investments in Newark’s downtown repurpose public spaces into vibrant gathering places, provide much needed accommodations and amenities to bolster tourism, offer a diverse mix of housing options to attract new residents, and create a regional recreation and wellness center for all.

“We are thrilled with today’s announcement of the DRI projects. The State’s funding, combined with the investment of private developers, will generate the largest economic investment in Newark’s history,” Newark Mayor Jonathan Taylor said. “These projects will be transformative, catalyzing economic growth not only in the Village, but throughout Wayne County and the entire region. We would like to thank the Governor for her confidence in the Village and for this award which will enable Newark to keep moving forward.”

The investments are part of the Governor’s ongoing efforts to revitalize the economy and create more opportunities within the Finger Lakes Region. The DRI is led by the Department of State, which provides technical assistance as each participating community develops a Strategic Investment Plan identifying specific projects with a unique vision for the revitalization of the downtown area. 

The specific projects to be funded through the DRI include:

Restoring Existing Anchor Buildings

Creating the Newark Regional Health and Wellness Center – DRI Award: $3,340,000

Repurpose a large, underutilized site on the Erie Canal into a vibrant center of activity, providing up to 25 new jobs, and a much needed community space for residents. Elements of the project include medical offices, an indoor track and other sports facilities, and a community flex space.

Repurposing Coventry Commons – DRI Award: $2,000,000

Convert a 90,000-square foot former manufacturing space into approximately 95 apartments and 5,000-square feet of community space. 

Constructing the Newark Canalside Hotel – DRI Award: $1,985,000

Construct an approximately 60,000-square foot, 98 room full-service hotel with a banquet and conference center. 

Revitalizing the Canal Port – DRI Award: $1,580,000

Improve the port with a promenade including an amphitheater, farmers market, kayak/canoe launch, new utilities, and streetscape upgrades. 

Redeveloping the Historic Former Newark Hospital Building – DRI Award $795,000

Restore the former Newark hospital into mixed-income apartments.