By Wendy Post —
On Wednesday, Governor Kathy Hochul announced the completion of a $683,700 mixed-used building project in the heart of Owego. Funded, in part, through Owego’s $10 million Downtown Revitalization Initiative award in 2018, the Owego Donut & Beer Co. opened in January in the renovated building that once housed Thompson’s Groceries.
With a redesigned first floor to create a new concept of a vibrant marketplace, an indoor and outdoor gathering space, and the creation of upper-story housing, the recent opening of the Owego Donut & Beer Co. marked the completion of the project with a gathering at the 229 North Ave. establishment in Owego to celebrate things.
“We are breathing new life into our communities through the Downtown Revitalization Initiative,” Governor Hochul said in a press release, adding, “This development will create a new, vibrant space for community members to live, shop, and visit, ushering in a more prosperous future for downtown Owego.”
“Through the Downtown Revitalization Initiative and the Regional Economic Development Councils, we are investing in our downtowns and transforming properties into vibrant commercial and residential spaces for the whole community to enjoy,” said Lieutenant Governor Delgado, who attended Wednesday’s celebration.
“I was honored to celebrate this newly completed project in Owego today and to continue this work of incentivizing investment in our communities statewide,” Delgado stated in a press release that followed the visit to Owego.
Led by the Empire State Development, the project received $439,000 from the Department of State’s DRI program to renovate both the interior and exterior of a building. The restoration included the redesign of the first floor, new electrical and plumbing systems, new floors, walls, and renovations to the patio.
The facility went through a complete renovation into a 6,000 square feet multi-use space that is now doing business as the Donut & Beer Co., a modern place that offers a self-serve beer wall, rotating craft, street foods, small marketplace, and an indoor / outdoor gathering space.
Pictured is the Owego Donut & Beer Co., located at 229 North Ave. in Owego. On Wednesday, the completion of the business as a DRI project was celebrated. (File Photo / JoAnn R. Walter)
The second floor will offer 2,500 square-foot residential properties, and feature two apartments. The owners of this property, Ike and Julie Lovelass, have been active participants of Owego’s revitalization and have made other non-DRI investments in the downtown area to include the Owego Kitchen and the Belva Lockwood Inn, which is now under new ownership.
Assemblymember Christopher Friend stated, “Congratulations to the Owego Donut & Beer Co. You have created a unique and innovative business that customers and the community will enjoy for a long time! Thank you for taking a risk and expanding job and cuisine opportunities for the Southern Tier. I wish you many years of success.”
Owego’s own Mayor, Mike Baratta, stated, “The award of DRI funds has ignited the revitalization of the Village of Owego. Owego Donut & Beer Co. is a great example of leveraging public and private investment to create jobs and expand the local economy.”
Chair of the Tioga County Legislature Martha Sauerbrey chimed in as well, stating, “During the DRI process for the Village of Owego, we considered the projects and hoped for the best. The Owego Donut & Beer Co. has turned out to be one of the most innovative and creative projects I have ever experienced. Added to that, the professionalism that created and implemented this project was exemplary. The product is excellent, the concept is out of the box and I can’t be prouder of what has been established in our community. Needless to say, the donuts are amazing.”
Owners Ike and Julie Lovelass stated, “We believe that the renovation of this property would not have been possible without the economic incentive of the Downtown Revitalization Initiative. The feasibility of renovating the property without the assistance of these funds would have been next to impossible to recoup the investment in the space. It was important to both of us to save this structure, as it has been an important part of the village’s economic development and the greater Owego community for decades.”
The Village of Owego was awarded $10 million by the Department of State after being nominated a Round 3 Downtown Revitalization Initiative (DRI) winner by the Southern Tier Regional Economic Development Council. This project, selected from Owego’s Strategic Investment Plan, plays a key role in transforming the downtown and supporting a vibrant local economy.
To learn more about Owego’s DRI, visit www.ny.gov/downtown-revitalization-initiative-round-three#owego.
To learn more about Owego’s Donut & Beer Co., visit owegodonutandbeerco.com/.
Be the first to comment on "Major DRI project completed in Owego; Marketplace Donut & Beer Co. complete"