The Village of Newark has been awarded $1 million from the State’s Restore New York Communities Initiative to revitalize its historic downtown area. Governor Kathy Hochul announced the grant, emphasizing the program’s goal to reduce blight and boost economic growth across the state. The funds will be used to transform a vacant 158,000-square-foot property into 101 new apartments, providing much-needed housing and economic opportunities in Newark.
Empire State Development will administer the grant, which supports local governments in encouraging new commercial investments. “Restore New York helps our municipalities plan for the future by catalyzing economic growth and supporting housing, businesses, and cultural spaces,” Hochul said. Empire State Development CEO Hope Knight added that the initiative aligns with the state’s priorities of housing and community revitalization.
Local leaders praised the grant’s potential impact. “These projects provide stability and opportunity for residents and small businesses,” said NYS Senator Pam Helming. Mayor Jonathan Taylor expressed enthusiasm for the redevelopment, saying, “As a Pro-Housing community, we are looking forward to Coventry Commons and the additional housing it will bring to Newark.” The revitalization is a key part of Newark’s Downtown Revitalization Initiative, aiming to reinvigorate the area and grow the local tax base.
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].