Pictured is the Welch’s Building rendering.

WESTFIELD — A major redevelopment project involving the C.E. Welch Building in the Village of Westfield is ready to move forward. During its meeting on Tuesday, the County of Chautauqua Industrial Development Agency (CCIDA) Board of Directors approved amendments to the project description originally authorized for the project 2021. The action paves the way for the developer, 2 Portage, LLC, to begin work on the creation of 46 new housing units in the Village’s downtown, while also developing new commercial rental space.

In December 2021, the CCIDA initially approved PILOT/Tax Lease incentives for adaptive re-use of the four-story, 51,000 square foot structure. Those incentives included real property, sales tax, and mortgage recording tax abatements to assist with renovating the building and creating a mix of residential apartments and commercial tenant space. This week’s action by the CCIDA board amends the project description. Among the changes, 2 Portage, LLC has decided that all units will be leased at market rate with no tenant restrictions on rents or income. This is an update from the previous project description, which noted that some units would be made available to lease as affordable housing units. Additionally, the total project budget was updated to $19.25 million.

“Today’s action by the CCIDA board was more of a formality to update details of this important housing project. The actual amount and terms of the incentives approved four years ago have not changed,” said Mark Geise, Chautauqua County Deputy County Executive for Economic Development and CCIDA CEO. “However, we still needed to make these final adjustments before we could close on the project in order for it to proceed. With today’s changes, a project that has been years in the making is now ready to begin. It’s a very exciting day for the Village, Town, and the County.”

Once completed, the building will include 46 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 and other professional service office spaces. The project will create an estimated 70 construction jobs and three post-construction full-time equivalent jobs.