Gov. Kathy Hochul announced Thursday that the state would be providing a $7 million grant to help with redevelopment of the downtown Riverside Hotel.
The announcement came with the release of new renderings for the $61 million project.
Mayor Malik Evans called it a “linchpin development.” The hotel shutdown nearly five years ago, and has seen significant vandalism — becoming a frustration for City Hall and other downtown investors.
WXXI News previously reported the project details: 133 hotel rooms and 161 apartments, with a portion of those reserved for lower-income renters. And proposed incentives that would waive all property taxes for the first 15 years of a 19-year deal.
The county’s Industrial Development Agency could vote to approve the tax agreement at a meeting Tuesday.
