The future of the Geneva Enterprise Development Center hangs in the balance as the city’s Industrial Development Agency contemplates extensive, necessary renovations.
Last Wednesday, a special committee evaluated the building’s condition, where various businesses operate, receiving a somber evaluation of the structure’s needs.
Tracy Verrier from MRB Group provided three potential options: Investing in substantial upgrades to the existing infrastructure, subdividing parts of the property for potential partial sales or outright selling the building after determining necessary improvements for marketability.
One significant expenditure includes a $3 million roof replacement, with total renovations potentially costing up to $17 million. The discussions also highlighted the need for modifications to align with the city’s vision of fostering a conducive environment for budding businesses.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].