Developers planning a $2.7 million transformation of the long-vacant Newark Hospital into nine market-rate apartments are seeking tax breaks to move the project forward, according to The Finger Lakes Times. If approved, construction could begin in April.
The project has already secured nearly $2.25 million in state grants and tax credits, but developers say additional financial assistance, including a payment-in-lieu-of-taxes (PILOT) agreement, is necessary to prevent further deterioration. The plan includes structural repairs, new infrastructure, and historically accurate restorations.
If finalized, the renovation would create 45-50 construction jobs and contribute to Newark’s revitalization efforts. The project is part of a broader push to redevelop downtown, including the $60 million Coventry Commons apartment project now underway.
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