On July 7, 2016 New York State awarded the City of Elmira with a $10 million grant to revitalize its downtown. This grant was awarded through Governor Cuomo’s Downtown Revitalization Initiative which awarded 10 towns and cities $10 million. Elmira was one of 10 winners from approximately 100 applicants.
Elmira’s plan to reinvigorate the city focuses on giving new life to a 500 acre area in the heart of the downtown. The plan included adding new housing and commercial space in the city and rehabilitating rundown buildings throughout the city.
The assistance provided to Elmira under the Downtown Revitalization Initiative in concert with the Upstate Revitalization Initiative Award announced in 2015 will provide an economic platform that will assist in rejuvenating the City of Elmira.
In support of the economic development opportunities provided to the City of Elmira, Elmira Savings Bank has developed a plan to rehabilitate two historic downtown buildings that are adjacent to our Bank Headquarters on Water Street. The project would renovate the buildings located at 313 and 315 East Water Street into residential apartments on the upper floors and modern retail space on the first floor at street level.