Governor Hochul celebrates the completion of Olean’s downtown revitalization initiative marking a new era of growth and community transformation

Olean, New York – The City of Olean has officially reached a major milestone in its long-term redevelopment journey, marking the completion of all projects funded through New York State’s Downtown Revitalization Initiative (DRI). Governor Kathy Hochul announced the achievement this week, praising the city’s collaborative efforts and the transformative results now visible across its downtown area.

“The completion of Olean’s Downtown Revitalization Initiative shows how targeted investments and community-driven collaboration can transform a downtown,” Governor Hochul said. “By completing these projects, the city has built a downtown that is vibrant, accessible and full of possibility, setting an example for other communities across New York State.”

With this announcement, Olean becomes one of the few DRI communities to have fully completed every funded public and private project — nine in total — fulfilling a vision that began nearly a decade ago. The latest improvements, the South Union Street Gateway Corridor and Walkable Olean Phase III East State Street Streetscape, represent the culmination of years of coordinated planning, construction, and local input.

Building a Walkable, Connected Community

The final two projects focused heavily on improving pedestrian safety, enhancing the city’s visual appeal, and creating better connections between key parts of Olean. On East State Street, workers installed landscaped medians, new crosswalks, and bump-outs to calm traffic and encourage walking. A roundabout was built at Barry Street, and a new pedestrian and bicycle path now connects downtown with Lincoln Park, the Allegany River Valley Trail, Bradner Stadium, and War Veterans Park.

Meanwhile, South Union Street received its own set of upgrades, including a traffic circle at Green Street and extended pedestrian pathways linking Lincoln Park to Franchot Park. Together, these enhancements have knit Olean’s neighborhoods more closely to its business core, parks, and recreation areas.

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These latest efforts build upon earlier streetscape work along North Union Street, where the city had already replaced vehicle lanes with bike lanes and rain gardens, added landscaped medians and traffic circles, and upgraded crosswalks. Decorative signage, seating areas, and even outdoor firepits were added, making downtown more welcoming for residents and visitors. Collectively, these initiatives make up the broader “Walkable Olean” plan, a long-term strategy to promote accessibility and community engagement through design.

A Decade of Transformation

Olean’s revitalization story began when the city was selected as the Western New York DRI Round 2 winner in 2017, joining a list of communities such as Jamestown, Lockport, Niagara Falls, Buffalo, North Tonawanda, Dunkirk, Tonawanda, and Cattaraugus. With its $10 million DRI award, Olean developed a Strategic Investment Plan designed to strengthen its downtown experience, attract private investment, and encourage people to live, work, and raise families in the area.

The plan was guided by five central goals: to make downtown green and beautiful, lively and prosperous, livable and complete, creative and fun, and connected and walkable. Those principles have since shaped every DRI project the city has undertaken — and the results are now visible in the form of new parks, restored buildings, and thriving small businesses.

Reviving History and Breathing Life into Old Landmarks

Among the standout projects was the redevelopment of the Historic Manny Hanny Building, a once-vacant downtown landmark that had long symbolized Olean’s past prosperity. Backed by a $2 million DRI award, the former First National Bank building — later known as the Manufacturers Hanover Bank or “Manny Hanny” — has been reborn as a mixed-use hub featuring market-rate apartments, office space, and art and event venues.

Another key project, funded with $719,500, was the renovation of the Carnegie Library Building and Inn, an architectural treasure at 116 and 120 South Union Street. The renovation included interior and exterior improvements such as new lighting, updated flooring, and redesigned dining and event spaces, creating a renewed cultural and social anchor in the heart of downtown.

Public spaces also benefited from the DRI. The Oak Hill Park Improvement Project, supported by a $500,000 grant, has transformed the underused park into a lively community space featuring a dog park, pickleball courts, a small stage for performing arts, and new picnic areas.

In another meaningful development, $225,000 was invested to establish a permanent home for the African American Center for Cultural Development. The building at 214 North Barry Street was renovated to include accessibility upgrades, a new HVAC system, an elevator, and space for museum exhibits and cultural programming.

Two historic row buildings on North Union Street also received attention, completing Phase II of long-standing restoration efforts with the help of a $100,000 DRI award. The work prepared the buildings’ first floors and basements for restaurants and other commercial uses, bringing new life to a once-dormant block.

In addition, a local matching grant program known as the Olean Revitalization Fund, managed by the Olean Business Development Corporation, distributed $644,250 in DRI funds to support small-scale projects across the city. In total, 29 commercial and mixed-use properties were improved under the program, further expanding the impact of the initiative beyond major construction sites.

Local and State Leaders Praise the Achievement

The completion of Olean’s DRI has drawn widespread praise from state officials who see the city’s success as a model for other communities across New York.

Secretary of State Walter T. Mosley applauded Olean’s commitment to its vision, saying, “Olean’s Downtown Revitalization Initiative has reimagined the city’s core as a dynamic destination where people want to live, work and gather. By completing every project funded through the DRI, Olean has turned local ideas into lasting progress, revitalizing its downtown, strengthening small businesses and creating a more walkable city center. This achievement reflects Governor Hochul’s commitment to making New York’s communities more affordable, enjoyable and full of possibility for the people who call them home.”

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Empire State Development President, CEO and Commissioner Hope Knight emphasized the city’s success in using its resources strategically. “Residents and visitors are seeing the benefits of the completed DRI projects in Olean, as new streetscapes and mixed-use projects come to life. Governor Hochul has spent time in all the DRI communities and knows firsthand the importance of investing resources directly into municipalities to support balanced, impactful growth. I thank and congratulate all our Olean partners for their smart planning and execution which is attracting new businesses and spurring additional private investment,” Knight said.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas also highlighted the broader implications of Olean’s success: “Olean’s Downtown Revitalization Initiative exemplifies how strategic state investments can breathe new life into communities, creating vibrant, walkable downtowns where families thrive. By completing all nine projects, including the creation of new housing at the Historic Manny Hanny Building, Olean has preserved its rich heritage while fostering economic growth and inclusive public spaces. This success story is an example for communities statewide, proving that with Governor Hochul’s vision, communities across the Empire State can create downtowns that are green, lively and full of opportunity.”

A Mayor’s Vision Realized

For Olean Mayor William Aiello, the completion of the DRI represents more than an infrastructure success — it is a symbol of local pride, collaboration, and forward thinking. “The Downtown Revitalization Initiative gave the city, working with our residents, an opportunity to think big and reimagine our business district,” Mayor Aiello said. “It allowed us to both stop the deterioration and invest in the future. Oak Hill Park was rejuvenated; buildings were restored, including the long abandoned former Manny Hanny Building; roads were upgraded; and Della Moore’s dream of a permanent home for the African American Center for Cultural Development was fulfilled.”

Aiello also expressed deep gratitude toward Governor Hochul and multiple state agencies, including the Department of State, Empire State Development, and Homes and Community Renewal. He credited Olean’s Department of Community Development, led by Keri Kerper, for remaining “steadfast and focused on completion” throughout the multi-year effort.

“The mission they started in the Fall of 2017 is now complete,” Aiello concluded.

Support From Local and State Legislators

State Senator George Borrello praised the project’s community impact, saying, “Olean’s Downtown Revitalization Initiative has transformed the heart of our community, creating a more walkable, welcoming downtown that will enhance quality of life, support small businesses, and attract new investment. This achievement reflects the pride, hard work, and resilience of the people of Olean, who have never stopped believing in their city’s potential.”

Assemblymember Joe Sempolinski echoed that sentiment, emphasizing the broader regional benefits: “I am so proud to represent the City of Olean. It is the largest community in the 148th Assembly District and a major economic center for the Southern Tier. Therefore, a renaissance of Olean’s downtown is not just of benefit to Olean but to the entire region. I look forward to a bright future for Olean and congratulate all involved in completing these important projects.”

A Model for Future Revitalization Efforts

The state’s DRI program, launched in 2016, has grown into a cornerstone of New York’s strategy for boosting economic development and livability in communities across all ten regions of the state. The initiative pairs detailed local planning with immediate investment, allowing communities to move from vision to implementation without long delays.

To date, the state has allocated $1.2 billion through the DRI and its companion program, NY Forward, supporting a total of 151 communities. Each participating city receives not only funding but also direct technical assistance from the Department of State, Homes and Community Renewal, Empire State Development, and the New York State Energy Research & Development Authority.

Governor Hochul’s FY2025 Enacted Budget also reinforces the state’s focus on sustainable, housing-oriented growth. Under new guidelines, cities, towns, and villages must earn “Pro-Housing Community” certification to access certain state discretionary programs, including DRI and NY Forward. Communities that achieve certification gain access to up to $750 million in state funding, including a $100 million Pro-Housing Supply Fund that supports infrastructure improvements such as water and sewer upgrades — essential for new housing development.

More than 350 municipalities have already achieved certification, including Olean, ensuring that the city remains eligible for future investment opportunities.

Looking Ahead

The completion of Olean’s DRI marks both an end and a new beginning. With revitalized streets, restored buildings, and thriving public spaces, the city now stands as a model for what comprehensive downtown planning can accomplish when state support meets local initiative.

The changes are visible — cleaner, safer streets; inviting parks; restored historic sites; and a stronger sense of community pride. But perhaps the most lasting impact is the renewed confidence among residents and business owners who now see Olean not as a city trying to recover its past, but as one confidently building its future.

As evening lights reflect off the newly landscaped medians of North and South Union Streets, and as residents stroll the expanded pedestrian paths connecting parks and neighborhoods, Olean’s downtown tells a story of transformation that will continue to inspire communities across New York State for years to come.

In the words of Governor Hochul, “By completing these projects, the city has built a downtown that is vibrant, accessible and full of possibility, setting an example for other communities across New York State.”

Olean’s revitalization is no longer a plan on paper — it’s a living, breathing example of what community-driven progress looks like. And for this small Western New York city, the future is now wide open.