Fairport Landing
Fairport Landing
About the Project
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.
The new owners, Fairport Landing, LLC, recognized the need for a significant investment to renovate and upgrade the property to attract new tenants. As proposed, the $1.5 million investment would include significant upgrades to the appearance and structural elements of the property such as signage, lighting, windows, columns, and facades.
However, that undertaking needed to be done in a cost-effective manner that would yield acceptable returns for the risks the project carried. A custom PILOT agreement with sales and mortgage tax exemptions was negotiated with the Fairport Industrial Development Agency, mitigating the risks and providing a period of stabilization for the project.
Key Takeaway
Collaboration with developers with the shared goal of enhancing a signature property in the heart of the Village of Fairport.
Completed in 2020, the project created a more open and contemporary appearance that has attracted additional commercial and retail tenants who did not previously serve the village. The multi-use space is also ideal for professional and technical firms looking for a new home in the region.
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.
Bicentennial Canal Gateway Project
In 2018, the Fairport Industrial Development Agency committed $500,000 to assist with the Fairport Bicentennial Canal Gateway Project which would dramatically transform the banks of the Erie Canal in the heart of the Village. Capitalizing on local assets to create appealing and unique places where people want to live, work and play, the project objectives included improved pedestrian access to the canal, a diversity of recreational opportunities and enhanced connections from the neighborhood to the Main Street corridor.