Governor Cuomo Announces Transformational Projects for Penn Yan as Part of $10 Million Downtown Revitalization Initiative Award

15 Downtown Revitalization Projects Highlight Historic Mixed-Use Core

August 8, 2019

15 Downtown Revitalization Projects Highlight Historic Mixed-Use Core, Lake Street Commercial Corridor, Robust Craft Food & Beverage Industry

Investment Complements "Finger Lakes Forward" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy

Governor Andrew M. Cuomo today announced 15 transformational projects for Penn Yan as part of the $10 million Downtown Revitalization Initiative award. The strategic investments in Penn Yan highlight its historic mixed-use core, the Lake Street commercial corridor, a robust craft food and beverage industry, and the Keuka Marsh and Outlet in the heart of the Finger Lakes region.

The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities for the Finger Lakes Region.

"As part of the Downtown Revitalization Initiative, Penn Yan will be able to grow their economy and elevate the quality of life for residents," Governor Cuomo said. "The tourism generated through their burgeoning craft food and beverage industry, local arts scene, and the beautiful Keuka Lake speaks to its incredible potential for greater economic opportunity."

"The Village of Penn Yan has a charming downtown that is primed for growth thanks to strategic investment," Lieutenant Governor Kathy Hochul said. "The projects funded as part of our Downtown Revitalization Initiative will build upon Penn Yan's strengths as a centerpiece of the region's craft food and beverage industry, expand the availability of housing, and improve quality of life to create a brighter economic future for the Finger Lakes."

Penn Yan was named a DRI Round 3 winner in October 2018. The Village of Penn Yan, a hub of business and recreational activity surrounded by bucolic farmland, leads the Finger Lakes Region in manufacturing job growth. Rich in history, the Village's downtown is comprised of lovely tree-lined streets, intact historic buildings, and beautiful landscaping. While so many other main streets have lost out to strip mall developments and big box retailers, Penn Yan's downtown is still the center of commerce for residents and visitors alike. However, a number of barriers, including the impact of recent extreme floods and lack of housing options, are suppressing Penn Yan's full potential for leveraging private investment and increasing economic opportunity for all. The DRI planning effort in Penn Yan will focus on overcoming these barriers and promoting sustained, year-round economic growth by concentrating on four areas: leveraging the abundant natural assets, capitalizing on the growing craft food and beverage industry, using the local art scene as an economic engine, and capturing the intellectual capital that lives and vacations in the Village.

Read the full press release here.