The city of Batavia received notice Wednesday (Dec, 29, 2021) from Shodeen Group, developer of the One Washington Place development planned to be built in downtown Batavia in 2022, exercising its rights under the redevelopment agreement to terminate the project.
Developers said the inflationary economy, instability of markets and supply chain disruptions were the basis for what officials described as a “difficult decision, which comes after more than five years of struggles to bring the project online.”
Both the Shodeen Group and the city had been making plans for a January groundbreaking.
“Recent trends in the cost for materials and material shortages became insurmountable obstacles to moving forward,” Batavia officials said in a news release,
The city will continue to market the property for similar opportunities for a mixed-use development that adds new residents, retail space and public parking to the downtown.
SOURCE: city of Batavia news release