56 Liftbridge West
56 Liftbridge West
About the Project
The Fairport IDA assisted the developers of 56 Liftbridge by providing a custom PILOT program and sales and mortgage tax exemptions. As a result twenty-four market-rate residential rental units were carefully designed and created. The project addressed two of the FIDA’s strategic focus areas of downtown revitalization and adaptive reuse.
The 56 Liftbridge West project was led by the visionary duo of Gary Muisus and Joel Barrett, and gave a fresh look into Fairport’s forgotten treasures. With determination and a passion for community revitalization, these local real estate experts acquired the properties for $840,000 and rejuvenated the historically designated former telephone company building, a vacant day care building, a multi-tenant office space and a formerly neglected residence.
This ambitious endeavor, valued at $5.2 million, went beyond typical figures. It was a testament to the power of belief, as these properties, once partially vacant and overlooked, were infused with vibrant energy.
Branded as The Banks of Roselawn, the project is fully occupied. Residents are able to enjoy a great location along the banks of the Erie Canal, with abundant village amenities just steps away.
Key Takeaway
Collaboration with developers to add to the existing housing stock within the Village of Fairport through the productive use of existing properties.
Success Stories
The Cannery
The long-vacant 62,000 square-foot former can factory and 42,000 square-foot industrial building that dominated the north side of the village were impediments to the revitalization of Fairport.
Sterling West
What began as a simple façade improvement project in 2004, resulted in the demolition of 2 buildings and the construction of what has become a signature project in the heart of the Village. The Fairport Urban Renewal Agency supported this project with a $300,000 low-interest loan and a façade grant. The total project cost was $1,200,000.
Iron Smoke Whiskey
Iron Smoke Whiskey, founded in 2011, is a small-batch craft distillery. Enjoying success, the distillery needed a larger location. Working with Fairport Local Development Corporation, a suitable site was identified, and Iron Smoke relocated to the Fairport location in 2014. The project was assisted with a low-interest loan for renovations, build-out costs, fixtures, and equipment. The total project cost was $850,000.
Fairport Landing
Developed through Urban Renewal programs in the 1970’s, the 120,000 square foot Fairport Landing shopping center had served as a key component of the Village’s commercial corridor. Due to shifting retail trends and lack of investment, the property was experiencing significant vacancy.