In Geneva the Lake’s Edge Seneca development, a planned mix of hotel, restaurant, and luxury townhomes, is facing financial hurdles despite its promising start.
Developers have listed the 13-acre property for sale but remain committed to finding new capital partners to keep the project alive, according to reporting this week by The Finger Lakes Times.
City officials tell the Geneva IDA that the project remains a priority and everyone involved is working to see it through.
Launched in August 2022, the $25.2 million development encountered obstacles early in 2023 when a key lender withdrew, halting construction.
Although the Geneva IDA had approved a significant tax-break package to support the project, the benefits have yet to be realized due to delays.
The site was previously home to the American Legion.
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