Development Furthers Revitalization Efforts in Rome and the Surrounding Communities by Adding 84 Market Rate Apartments
Governor Andrew M. Cuomo today announced the development of a new mixed-use apartment community with office and amenity-oriented space at Griffiss Business and Technology Park in Rome, Oneida County. Bonacio Construction will purchase 4.2 acres of land on State Route 825 for Phase One of the project that will include two, four-story mixed-use buildings with street-level commercial space and 84 units of upper-level, market-rate apartments. The estimated cost of the project is $20 million.
"Griffiss Business and Technology Park is home to globally recognized businesses that employ thousands of New Yorkers in the Mohawk Valley and continue to attract top talent through innovative research, products and services," Governor Cuomo said. "This investment in Rome will further enhance the entire region by providing quality housing options close to the Griffiss Business and Technology Park, while continuing to build upon our economic development efforts in the Mohawk Valley."
"This housing project will add apartments at the Griffiss Business and Technology Park, creating a community with mixed-use space," said Lieutenant Governor Kathy Hochul. "Griffiss is leading the way with cutting-edge businesses and innovative research and development, and this project further develops the area to provide amenities and housing for employees. The investment builds on our efforts to continue to grow the tech industry in the Mohawk Valley, creating new opportunities and jobs and strengthening the local economy."
This project will provide quality apartments and lifestyle amenities to employees located at Griffiss Business and Technology Park and the City of Rome and will strengthen the recruiting efforts of area employers who are looking to fill high-wage jobs. Empire State Development will provide a capital grant of up to $1.25 million to Griffiss Local Development Corporation to support this mixed-use development, which was recommended as a priority project by the Mohawk Valley Regional Economic Development Council during Round VIII of the Governor's Regional Council initiative.
Construction is set to commence this fall with substantial completion expected in one year. New York State recently completed construction along the stretch of state Route 825 that fronts this development site. Last year, the Griffiss Park Landowners Association installed new sculptures in the two roundabouts along the State Route 825 corridor.
Empire State Development President, CEO and Commissioner Howard Zemsky said, "Bringing top talent to the region is crucial to growing the jobs and businesses that are making the Mohawk Valley a recognized hub for the area's aviation, UAS, IT and cyber industries."
Griffiss Local Development Corporation chair Elis DeLia said, "Griffiss Business and Technology Park has grown steadily over the past 24 years, but not only has the park grown, it has diversified. Park tenants include everything from manufacturers to IT/cyber security companies and one thing they all have in common is the need for expanded amenities for their employees that are not offered in the current marketplace. To capitalize on this need we partnered with the City of Rome to highlight our development opportunities, and we are excited that Bonacio Construction will be taking on this value-added project for Griffiss Park."
Sonny Bonacio, President of Bonacio Construction said, "We are excited to be a part of the Rome community, starting with this project. Our vision for this site is a mixed-use, amenity-rich apartment community, providing Griffiss companies with much needed support for recruitment efforts, increasing overall employee quality of life, and keeping critical dollars in the local Rome economy."
Mohawk Valley EDGE President Steven J. DiMeo said, "Our vision for this site was to position this critical commercial corridor for high quality mixed-use development that is connected with Rome and is linked to the network of existing and new recreational trails that have been developed in and around Griffiss."
Mohawk Valley Regional Economic Development Council Co-chair Lawrence T. Gilroy III, President of Gilroy, Kiernan & Gilroy, Inc. said, "This investment will further ensure that the Mohawk Valley continues to attract businesses and their employees in a very competitive business environment by creating vibrant communities to live and work."
Senator Joseph Griffo said, "The Griffiss Business and Technology Park is a major hub of innovation and an important economic driver and job creator for Rome and the Mohawk Valley. I am hopeful that this $20 million project consisting of a mix of apartments and commercial space will provide area companies with another tool to recruit and keep employees here and will help to attract additional companies to the region."
Assemblywoman Marianne Buttenschon said, "This is a huge win for our region. Not only will it further boost Griffiss' status as a hub for innovation and development, but it will also bring more quality, affordable housing to Rome, attract workers and create construction jobs. I look forward to seeing this project come to life as we continue working to strengthen the Mohawk Valley."
Oneida County Executive, Anthony J. Picente, Jr said, "This project will provide a housing option that has been lacking in Rome and fulfill a need that will have a positive impact on the city's continued growth. It will prove to be a strong recruitment tool for the high tech companies operating at the Griffiss Business and Technology Park and should lead to even more employees joining the thousands who are already helping drive Oneida County's economy forward. The versatility of featuring commercial and amenity space only adds to this projects transformative potential. I applaud the City of Rome and the Mohawk Valley Regional Economic Development Council for this visionary project and thank Gov. Cuomo for the funding to help make it a reality."
Rome Mayor Jacqueline M. Izzo said, "The B240 project is a culmination of an almost three year project to bring a first of its kind mixed use project to the Griffiss Park with an emphasis on providing market rate housing for our vast workforce at the Park. We are excited to have Bonacio Construction join us as a new housing partner. Griffiss Business and Technology Park is hailed as a real success story for a repurposed former air force base. Residential housing will be the perfect complement for our business partners at the Park who are in a time of unprecedented growth. I would like to thank Governor Cuomo and Empire State Development Corporation for providing a substantial capital grant to assist us in bringing this mixed use project to fruition. The introduction of new, modern apartment style housing is important to the future residential growth of the City of Rome."
About Empire State Development
Empire State Development (ESD) is New York's chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo's Regional Economic Development Councils and the marketing of "I LOVE NY," the State's iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.