Rochester, N.Y.- It’s official. A new partnership has been formed to develop Midtown Tower.
Rochester Mayor Tom Richards announced Wednesday Larry Glazer of Buckingham Properties and Bob Morgan of Morgan Management are teaming up. Glazer replaces Christa Construction, which had previously teamed up with Morgan for the project.
The city stripped down the former office tower to its steel skeleton as part of its effort to revitalize the Midtown Plaza site. The original tower developer team envisioned a $72 million project with luxury condos.
The new, scaled-down $55 million project will create between 160 and 182 rental housing units and three to five stories of commercial space in the Tower, which has an updated design.
Glazer says the units will be competitively-priced.
"We're talking about very, what I would call, more edgy apartments," said Glazer. "Apartments that are going to be pet friendly they're going to have a lot of different types of amenities you don't have in older traditional buildings, such as a social gathering areas, business centers, even a very large dog park for people who want to keep pets there."
The project still needs $4 million from the state. It’s set to be completed by the end of 2014.
"We are not the same city we were 30, 20 or even five years ago, and we're not going back," Mayor Richards said. "We are moving forward. It's going to be exciting and vibrant."