Lake’s Edge Seneca Seen as ‘Magnet’ for More Development
GENEVA — Lynnora Sable-Smith is a Canandaigua realtor who believes Geneva is on the cusp of something big.
She said you have to look no further than Lake’s Edge Seneca, the $25.2 million mixed-use development on Lochland Road, where groundbreaking ceremonies took place Thursday.
“Geneva is an up-and-coming place,” she said while enjoying hors d’oeuvres and awaiting the start of a short groundbreaking ceremony featuring addresses by Mayor Steve Valentino and Marc Demshock of River’s Edge Capital and Pine Ridge Construction, the project developers.
Sable-Smith, who represents the developer of Orchard Park Drive, a nearby home development in the town, said it’s natural for the locals of a community to not appreciate their assets. However, the redevelopment of the former Geneva American Legion property by a Pennsylvania company into luxury condos, a Marriott hotel, a restaurant and brewery indicates the potential others see in Geneva and the Finger Lakes.
The former Legion site is an impressive chunk of property, she said.
“You’ve just got a beautiful view here,” Sable-Smith said.
Demshock said he’s been coming to Geneva and the Finger Lakes for many years.
“My family came up here when I was growing up,” he said. “Seneca Lake was a place to escape. This place is special. It’s a second home.”
Demshock believes in the power of water and its ability to provide solace in stressful times.
“We need to recharge,” he said.
Lake’s Edge Seneca is designed to do just that, he said.
However, that recharging won’t come cheap when it comes to the 51 luxury condominiums planned on the property, where work started a couple of months ago — including the demolition of the former American Legion home.
Prices start well into the $700,000 range, and some are listed at over $1 million.
Dave DeFelice of Fairport, who has a summer cottage on Cayuga Lake, attended the event out of curiosity. He said the price tag for the condos is “probably beyond what I would spend.”
But Sable-Smith doesn’t believe Lake’s Edge will have trouble finding buyers.
“I have some people over by Canandaigua looking for property,” she said on the reasons she attended Thursday’s groundbreaking. “Some are looking for a particular lake.”
Valentino said the former Legion property was known nationally as one of the best in the country, but he’s excited for the next phase of the nearly 13-acre lakefront parcel.
“I’m already looking to stay in the 113-room hotel and see if I can borrow from Craig (Miller, president of Pine Ridge) for a condo,” he joked.
He said the project will be a “magnet” for additional development in the region.
Demshock expressed appreciation for the support from the city and other government agencies, including the Geneva Industrial Development Agency, which granted the commercial portion of the project a tax-incentives package, including a 15-year property tax abatement agreement worth $5.8 million.
However, a study conducted by MRB Group claims that over the 15-year tax-abatement schedule the project will have a $36.6 million local benefit. Those numbers factor in permanent jobs related to the operation of the hotel and restaurant, along with temporary construction jobs.
The residential portion of Lake’s Edge Seneca will be built first, with condos available for occupation in spring 2023. Construction on the commercial portion will start next spring.
The condos, which will be placed closer to the lake, are offered in two floor plans, one 2,040 square feet and the other 2,413 square feet.
Other amenities include a pool, walking trails and lakefront access.
Written by: Steve Buchiere sbuchiere@fltimes.com
August 26, 2022