Downtowns across New York State are being revitalized and reinvigorated through Round 4 of the Restore NY Communities Initiative – nearly $40 million to support 75 projects that will give urban centers new life and promote new economic opportunities through a wide-ranging restoration of vacant and surplus properties.

Cities, towns and villages were eligible to apply for support for projects under Round 4, which launched in June of 2016. The projects include a variety of properties and goals – rehabilitating and reimagining old or blighted structures, and creating affordable housing, waterfront developments and mixed-use properties. 

Vacant buildings and storefront facades are being redeveloped, historic theaters are coming back to life and the rehabilitated properties are re-entering city tax rolls after long absences.  In Troy, for instance, the rehabilitation of the historic American Theater is part of a larger Riverwalk redevelopment plan. In Buffalo, the redevelopment of the city’s Northland Corridor continues, including the demolition of three abandoned structures and the rehabilitation of a small business campus. In Ogdensburg, two buildings will be demolished as part of the city’s Brownfield Opportunity Area Plan.  Those are just a few examples of how old sites will be transformed to create new energy and economic growth.

Restore NY “is an important step towards attracting residents and businesses to rebuild underserved neighborhoods,” said ESD President, CEO & Commissioner Howard Zemsky.  

Funding for the initiative was included by Governor Cuomo in the FY16 State Budget, with ESD responsible for administering the program..

Click here to read the full press release about Round 4. For a full list of the projects across nine regions that are receiving funding, click here.