New York State Department of Financial Services

05/15/2026 | Press release | Distributed by Public on 05/15/2026 10:46

Governor Hochul Announces 14 Transformational Projects in Mohawk Valley as Part of Downtown Revitalization Initiative and NY Forward Programs

Governor Kathy Hochul today announced awards for a total of 14transformational projects for the Mohawk Valleyas part of two economic development programs: the Downtown Revitalization Initiative (DRI) and NY Forward. Six projects were announced for Schoharie, the Round 8 winner of a $10 million DRI award; four projects were announced for Waterville, a Round 3 winner of a $4.5 million NY Forward award; and four were announced for Canajoharie, also a Round 3 winner of a $4.5 million NY Forward award.

"Our downtowns are the lifeblood of communities all across the state - from the small businesses to the local restaurants to areas where residents can just gather," Governor Hochul said. "With these investments, Mohawk Valley residents can expect upgraded civic, commercial and cultural spaces for families to take advantage of and more housing to drive down costs in their neighborhoods."

DRI and NY Forward communities developed Strategic Implementation Plans (SIPs), which create a vision for the future of their downtown and identify and recommend a slate of complementary, transformative and implementable projects that support that vision. The SIPs are guided by a Local Planning Committee (LPC) comprised of local and regional leaders, stakeholders and community representatives, with the assistance of an assigned consultant and DOS staff, all of whom conduct extensive community outreach and engagement when determining projects. The projects selected for funding from the SIP were identified as having the greatest potential to jumpstart revitalization and generate new opportunities for long-term growth.

Schoharie

Nestled in the heart of the Schoharie Valley, the village of Schoharie serves as a critical junction for resident services, local commerce, and a gateway to the Mohawk Valley Region. Its Main Street is comprised of traditional multi-story, mixed-use brick buildings that host a variety of uses and a community favorite Schoharie envisions a vibrant downtown, preserving unique heritage while fostering sustainable growth. The village's commitment to environmental stewardship, local businesses, and cultural enrichment will continue to make Schoharie a place where families thrive, visitors are inspired and future generations are proud to call home.

The 6 Schoharie DRI projects, totaling $9.7 million, include:

  • Commercial Space with a Professional Healthcare Facility at 218 Main Street ($1,844,000): Construct a new, two-story commercial building at 218 Main Street to transform a long-vacant site into a modern healthcare and business center. The project will build a larger facility for an expanding dental business, creating local jobs and new commercial space for a future business while supporting downtown walkability.
  • Build a New Apartment Community at 218 Main Street ($2,000,000): Build a new apartment community on a vacant lot behind 218 Main Street to provide needed housing in Schoharie. The project will expand housing options with a mix of one- and two-bedroom units for residents of all ages in a walkable downtown location.
  • Create Fire House Park at 133 Grand Street (1,510,000): Transform the vacant former firehouse site into a new public park just steps from Main Street. Fire House Park will be a welcoming public space designed for all ages with play areas, shaded seating, gardens and green infrastructure.
  • Add and Enhance Community Spaces at the Schoharie Free Library ($976,000): Update facilities at the historic Schoharie Free Library to expand programming and create a more welcoming, accessible hub for year-round community events and learning. The project will create a new makerspace and kitchen area, update exterior program spaces including the porch and lawn as well as upgraded parking, HVAC, and ADA accessibility.
  • Update the Borden's Creamery Building into an Accessible, Modern Community Cultural Center ($870,000): Renovate the historic Borden's Creamery Building into a fully accessible cultural center with modern facilities. The project will add an elevator, complete comprehensive ADA and energy-efficiency upgrades, and modernize the building's kitchen, safety systems, and theatre and art gallery lighting systems.
  • Flow Through Fountaintown: Improve Pedestrian Access & Connectivity ($2,500,000): Improve downtown streetscapes with upgraded pedestrian infrastructure, traffic calming, green spaces, and signage to make walking safer and more inviting for residents and visitors. These improvements will connect key destinations like the Palatine House Museum, Community Pool, Schoharie Free Library and Main Street business district, supporting walkability, accessibility and a more vibrant downtown.

Waterville

The Village of Waterville is located in southeastern Oneida County along the historic NYS Route 20 Scenic Byway. While less than 25 minutes south of Utica, the Village retains its pastoral, small town appeal, and is known as the garden spot of New York State. Home to just under 1,500 residents, Waterville developed as the center of the surrounding agricultural industry, primarily the growing and processing of hops. By 1875 Waterville was the "Hops Capital of the World." This economic success gave rise to a bustling downtown that is now known as the "Waterville Triangle Historic District". With high-quality infrastructure, a first-rate school system and a strong sense of place, Waterville is ripe to attract new residents. It is an ideal place for young families to grow and for older generations to age in place. Waterville's parks, tree-lined sidewalks and friendly neighborhoods make it a desirable small community to call home.

The 4 Waterville NY Forward projects, totaling $4.5 million, include:

  • Renovate a Historic Church into a Public Event Venue ($388,000): Renovate a historic 1872 church located in downtown Waterville to become a premier wedding and event venue. The venue will serve as an economic driver, attracting visitors from across the region, generating renewed interest in Main Street.
  • Create a Small Project Fund ($477,000): Create a Small Project Fund that will provide property owners within the Waterville NY Forward Area with financial and technical assistance to bridge potential funding gaps for eligible projects.
  • Renovate Existing Buildings by Expanding Mulligans ($1,836,000): Renovate 116 and 118 West Main Street to allow for the expansion of Mulligans and the creation of upper floor housing units. The project also includes facade upgrades to activate the block.
  • Transform and Renovate the Buell Block ($1,799,000): Rehabilitate the upper floors of the historic Buell Block building on W. Main Street to create upper-floor housing. The project also includes exterior renovations to better capture the building's historic character.

Canajoharie

Located along the banks of the Mohawk River, the Village of Canajoharie in Montgomery County was once a thriving hub for transportation and industrial development. Most of the Village is located within a historic district due to its abundance of well-preserved architecture from different eras. The Erie Canal trail - a popular destination for bicyclists as part of the Empire State trail - also traverses the downtown business district. With recent investments and its key location along major transportation routes, Canajoharie's downtown has the potential to become a vibrant riverfront destination and local employment center.

The 4 Canajoharie NY Forward projects, totaling $4.5 million, include:

  • Create An Interpretive Trail and Public Space ($1,290,000): Construct an interpretive waterfront trail, a village green space and public access to the Canajoharie Creek that will connect the Empire State Trail to the Mohawk River waterfront at the historic Beech-Nut site in the Village of Canajoharie. Trail improvements to include historical interpretative signage and the restoration and re-purposing of the historic Warren Truss train bridge as a pedestrian walkway and gateway to the site.
  • Reimagine Canajoharie's White Park ($810,000): Restore White Park while ensuring full compliance with ADA standards. Located at the intersection of Moyer and Montgomery Street, the project better accommodates community events by adding seating, an accessible ramp and by planting trees to enhance the park's atmosphere.
  • Revitalize the Former Beech-Nut Site into Vibrant Mixed-Use ($2,000,000): Construct a mixed-use building featuring residences above ground-floor commercial and community spaces on the former Beech-Nut factory site. The project includes a public walkway, designed with the goal of creating flexible greenspace.
  • Create a Small Project Fund ($400,000): Establish a Small Project Fund that offers financial and technical assistance to property owners within the Canajoharie NY Forward Area. This fund is intended to support a range of improvements, including façade renovations, commercial or residential rehabilitations, targeted business assistance activities and public art installations.

To receive funding from either the DRI or NY Forward program, localities must be certified under Governor Hochul's Pro-Housing Communities Program, which recognizes and rewards municipalities actively working to unlock their housing potential and encourages others to follow suit. After becoming certified, localities have exclusive access to up to $750 million in discretionary State funding, including DRI and NY Forward. Since the launch of the Pro-Housing Communities Program, funds awarded to Pro-Housing Communities throughout the state have supported up to 20,000 more homes. To date, more than 410 communities across New York have been certified.

Many of the projects funded through the DRI and NY Forward support Governor Hochul's affordability agenda. The DRI has invested in the creation of more than 5,000 units of housing - more than 2,000 of which (40 percent) are affordable or workforce housing. The programs committed $9 million to 12 projects that provide affordable or free childcare and childcare worker training. The DRI and NY Forward have also invested in the creation of public parks, public art - such as murals and sculptures - and art, music and cultural venues that provide free outdoor recreation and entertainment opportunities.

New York Secretary of State Walter T. Mosley said, "The Mohawk Valley is rich in history, resilience and community pride, and these latest investments build on that strong foundation to support a new generation of growth and opportunity. Through the DRI and NY Forward, we are empowering local leaders to advance projects that enhance downtown living, support small businesses, and create inviting public spaces. Each project reflects the unique identity of these communities while contributing to a more connected and economically vibrant region. We are proud to support the Mohawk Valley as it continues to write its next chapter of revitalization and success."

Empire State Development President, CEO and Commissioner Hope Knight said, "Smart investments in community redevelopment to promote new economic growth is at the heart of the Downtown Revitalization Initiative and NY Forward program. These 14 Mohawk Valley projects will collectively capitalize on local assets to support residents and small businesses, and accelerate new developments that invite visitors to explore and experience the region."

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "Through the Downtown Revitalization Initiative and NY Forward, HCR is partnering with communities across the Mohawk Valley to transform historic downtowns into vibrant places where residents, businesses and visitors can thrive. The $19 million awarded to Schoharie, Waterville and Canajoharie will support the creation of new housing, the revitalization of mixed-use and historic buildings, and investments in parks, cultural destinations and walkable public spaces that strengthen community life and local economies. By tying these investments to the Pro-Housing Communities Program, we are ensuring that revitalization efforts also help expand housing opportunities and affordability. Together, these projects will build stronger, more connected communities that honor the Mohawk Valley's unique heritage while creating new opportunities for future generations."

Mohawk Valley Regional Economic Development Council Co-Chairs Larry Gilroy and Dr. Marion Terenzio said, "The MVREDC is incredibly proud to continue our support for the communities of Schoharie, Canajoharie and Waterville, and their exciting futures made possible through Governor Hochul's Downtown Revitalization Initiative and NY Forward program. These 14 community-driven projects will promote economic growth, creating more dynamic downtowns and places where residents and visitors alike will want to live, work, and play for generations to come."

Village of Canajoharie Mayor RFonald O. Dievendorf said, "I and the village gratefully thank Governor Hochul and the New York Department of State for recognizing the promise that was put forth in our NY Forward Grant and helping us to make these improvements happen."

Village of Schoharie Mayor Colleen Henry said, "This is an extraordinary gift for our community, this investment allows us to move forward with transformational projects creating housing, rebuilding infrastructure and adding economic growth to our village."

Village of Waterville Mayor Ruben Ostrander said, "Thank you Governor Hochul and all those from the State of New York involved in the process. We are thrilled to see the list of recipients. This will be a major improvement to our community and hope it inspires continued development in the Village of Waterville and surrounding area. We are truly ecstatic to have been a NYF awardee and for this next step in the process."

About the Downtown Revitalization Initiative
The Downtown Revitalization Initiative was created in 2016 to accelerate and expand the revitalization of downtowns and neighborhoods in all ten regions of the state to serve as centers of activity and catalysts for investment. Led by the Department of State with assistance from Empire State Development, Homes and Community Renewal and NYSERDA, the DRI represents an unprecedented and innovative "plan-then-act" strategy that couples strategic planning with immediate implementation and results in compact, walkable downtowns that are a key ingredient to helping New York State rebuild its economy from the effects of the COVID-19 pandemic, as well as to achieving the State's bold climate goals by promoting the use of public transit and reducing dependence on private vehicles. Through nine rounds, the DRI will have awarded a total of $1 billion to 101 communities across every region of the State. The Governor has proposed another $100 million for the program in her 2026-2027 Executive Budget.

About the NY Forward Program
First announced as part of the 2022 Budget, Governor Hochul created the NY Forward program to build on the momentum created by the DRI. The program works in concert with the DRI to accelerate and expand the revitalization of smaller and rural downtowns throughout the State so that all communities can benefit from the State's revitalization efforts, regardless of size, character, needs and challenges.

NY Forward communities are supported by a professional planning consultant and team of State agency experts led by DOS to develop a Strategic Investment Plan that includes a slate of transformative, complementary and readily implementable projects. NY Forward projects are appropriately scaled to the size of each community; projects may include building renovation and redevelopment, new construction or creation of new or improved public spaces and other projects that enhance specific cultural and historical qualities that define and distinguish the small-town charm that defines these municipalities. Through four rounds, the NY Forward program will have awarded a total of $400 million to 77 communities across every region of the State. The Governor has proposed another $100 million for the program in her 2026-2027 Executive Budget.

New York State Department of Financial Services published this content on May 15, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 15, 2026 at 16:47 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]