National Grid : Investment Breathes Life into City of Oswego ‘Dead Zone’

National Grid is supporting the transformation of Oswego's Riverfront District through a $133,000 Main Street Revitalization incentive that will help 22 Crossroads, LLC offset the construction costs to transform a 'dead zone' into a vibrant area attraction. The former vacant lots at 147-159 West First Street were recently renovated into mixed-use facilities with a blend of retail, commercial and market-rate residential space.

'The City of Oswego appreciates the partnership and support of National Grid with our downtown revitalization efforts,' said Oswego Mayor Billy Barlow. 'The 22 Crossroads/Riverwalk is a key project in downtown Oswego, bringing economic activity and jobs to our core downtown area and we are grateful for the assistance from National Grid in helping to make this project a reality.'

'National Grid funding was key to helping us move forward with this project,' said Ed Alberts, owner, 22 Crossroads/Riverwalk Oswego. 'We deeply appreciate the company's partnership to transform the Riverfront District as a source of pride for the community. Overall, this project is part of the ongoing collaboration to revitalize and improve the riverfront for future generations.'

A total $7.5 million in project costs for renovations is expected to attract commercial investments, improve housing stock, revitalize the downtown core and create 38 new jobs. The images below provide a before and after illustration of the transformation.

(BEFORE) (AFTER)

'We are very proud to play a role in supporting the revitalization of Oswego's Riverfront District,' said Alberto Bianchetti, National Grid Central New York Regional Executive. 'National Grid is dedicated to the redevelopment of business districts and commercial corridors in Central New York, and through our Main Street Revitalization Program, we are pleased to support locally owned businesses like 22 Crossroads that contribute to the economic growth of the region.'

Since its inception in 2003, the company's Main Street Revitalization Program has supported more than 300 projects and contributed more than $21 million in funding to stimulate investment in the rehabilitation of vacant buildings in downtowns, on Main Streets and in commercial mixed-use corridors across upstate New York.

The National Grid Main Street Revitalization program and suite of Shovel Ready economic development programs are used extensively in both small and large communities across the National Grid service area. In the past year, 157 projects were completed across upstate New York totaling more than $10 million in grant funding, creating or retaining an estimated 3,700 jobs.

The Main Street Revitalization Program provides matching grants to businesses, developers or not-for-profits undertaking efforts to revitalize critical Main Streets and commercial corridors. The program is designed to help communities promote 'smart growth' and private-sector investment in central business districts and commercial corridors to help their competitive viability, attract investment and capitalize on their distinct development potential.

National Grid Economic Development staff work with municipalities, local economic development organizations, chambers of commerce and private developers to identify eligible projects.

For more information on the program and other eligibility requirements, please visit www.shovelready.com.