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Geneva is getting a new development, which will include a brand new Dunkin’ store.
The Geneva Industrial Development Agency and Local Development Corporation announced the development late-Wednesday in a press release. It will happen at the “Gateway Parcel,” which is a vacant lot located on the corner of E. North and N. Exchange streets.
Both boards came together to develop the parcel into a multi-tenant building with a Dunkin’ franchise as the anchor tenant. The property is being sold by the IDA to the developer, JFJ Holdings, LLC for $285,000.
This parcel will be fully taxable on the effective date of the sale, according to city officials. “The LDC and IDA have been working diligently together to turn a blighted property into a City asset. We are excited at the progress that has been made,” said Geneva LDC board chair, David Linger.