Welch Administration Building, Westfield, New York
Redevelopment of the former Welch’s Building in Westfield is moving forward.
The Chautauqua County Industrial Development Agency said that 2 Portage LLC is now the owner of the historic structure and will begin the rehabilitation and adaptive reuse of the 51,000 square foot building.
2 Portage LLC received a $475,000 AL Tech Revolving Loan Fund through the IDA for the $18 million project.
Upon completion, the building will include 46 mixed-income residential units. In addition, there will be 3,700 square feet of commercial space located in original commercial space at the corner of Portage Road and Main Street. The commercial space will be targeted at a mix of tenants, including a food and beverage/retail operator in the street-level space, and other professional service office spaces on the ground floor.
The redevelopment of this building will provide needed housing in the Village, and street level retail, both of which will support the walkability and vitality of the Village.
Construction is expected to begin mid-2023 after final Historic Landmark status is approved by the National Parks Service. The property will be renovated and managed by Savarino Companies.
The project will create an estimated 70 construction jobs and three post-construction full-time equivalent jobs.
In addition to loan financing for building acquisition, the CCIDA Board of Directors also previously approved a Tax Lease/PILOT incentive agreement, which includes real property, sales, and mortgage recording tax abatements. The project also received $1.5 million in Restore New York funds from the state toward the historic rehabilitation and adaptive use of the building.
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