State competition spurs development in Jamestown

Posted at 6:21 PM, Jun 05, 2017
and last updated 2017-06-05 18:21:12-04

New York Governor, Andrew Cuomo is once again holding a $100 million competition statewide. The competition asks towns and cities to submit proposals and the best projects will receive a $!0 million dollar prize.
This is the second time the governor has done the contest. Last year, the City of Jamestown was one of 10 cities to win.
We went to Jamestown on Monday to see how it is spending the money.
“This is going to be the main entrance to the new Jamestown Brewing Co. And we're going to replace all the glass that you see here,” explained developer, George Patti. Patti’s opening a brewery at the corner of West Third and Washington Streets. He was awarded $830,000 of the $10 million prize.

The 36 thousand-square-foot building will also include a banquet center and roof top lounge. It’s a project he says wouldn't be possible without the state funding. That money will pay for facade improvements and interior design.

Patti's brewery is one of 10 projects in Jamestown splitting Cuomo's 10 million dollar Downtown Revitalization Initiative or D.R.I. funds. “Many of these have large gaps and the DRI is going to help make some of these very exciting projects a reality,” said Jamestown Development Director, Vince DeJoy.

Other projects include converting the old Ramada Hotel on 4th street into a Hilton Double Tree Hotel and conference center. It will receive $2.4 million. And the former Key Bank on Main Street which is being redeveloped into eight apartments, some retail space and 10 thousand feet for office use. Developers were awarded one million dollars. “Jamestown is going to look completely different in the next 3 years once these projects are complete.”

The funding isn't given up front. Developers must complete the project before being reimbursed. For developers like George Patti, he's eager to get started. “We're going to expedite things and we're going to get underway as soon as possible.”