Transforming South Street: Bonacio Development’s $6.6 Million Tax Credits Propel Glens Falls’ Revitalization Efforts
From Parking Lot to Community Hub: South Street Project Poised to Redefine Glens Falls’ Landscape
According to published article of glensfallschronicle, Governor Hochul’s announcement of the $6.6 million tax credits for Bonacio Development’s South Street apartment project marks a significant milestone in Glens Falls’ revitalization efforts. With plans to transform the former farmer’s market parking lot into a vibrant community hub including mixed-income housing and supportive services the project aligns with the city’s vision for sustainable development. Mayor Bill Collins‘ excitement underscores the anticipation surrounding South Street’s transformation highlighting its potential to become the coveted “Street of Dreams” as part of the broader Downtown Revitalization Initiative.
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$6.6 Million in NYS Tax Credits for Apartment Development in Bonacio Lands (PHOTO: The Post Star)
Fueling Economic Growth: Bonacio Group and Glens Falls City Forge Partnership to Revitalize Downtown and Enhance Community Prosperity
The collaboration between Bonacio Group and the City of Glens Falls signifies a pivotal moment in the city’s economic landscape. Leveraging the tax credits to attract private investment the project is poised to inject nearly $25 million into downtown Glens Falls driving job creation and fostering a more inclusive community. With a focus on affordability sustainability and support services the South Street Apartments project exemplifies Governor Hochul’s initiative to address housing needs while promoting economic growth. As the city eagerly anticipates breaking ground on this transformative endeavor stakeholders are committed to realizing the full potential of the Market Center/South Street renewal project for the benefit of residents and businesses alike.
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