City of Rochester
News Release
(Wednesday, Aug. 22, 2012) – Mayor Thomas S. Richards, Neighborhood and Business Development Commissioner R. Carlos Carballada, Rochester City Council Vice President Dana Miller joined Jeffrey Smith, President and CEO of Woodstone Custom Homes, Inc. and Jodi Weinberger of Woodstone Realty today at the official groundbreaking ceremony for Brooks Court, 1170 Genesee St.
“Rochester is improving because of the quality of life in our neighborhoods,” said Mayor Richards. “Strong neighborhoods are really what will make Rochester the best mid-sized city in America. Where else could you own a home near the waterfront, next to a major university, a new, urban commercial center like Brooks Landing and an Olmsted-designed park in an historic neighborhood like the 19th ward? We are thankful to Woodstone Homes for their investment in our city.”
The Brooks Court project will feature the construction of a new neighborhood street that will be called Brookcrest Way. On the street, 29 new, single-family, market-rate homes will be built with designs reminiscent of the Craftsman and Bungalow “city house” styles that were prevalent in the early- to mid-1900s. Construction of the new street at the former Valley Court Apartment site in the 19th Ward has begun and the homes will begin to be constructed in September. They will be available for occupancy in the late fall of 2012. The entire project is expected to be completed in 3 years.
The homes will feature a variety of ranch, cape, and 2-story plans, ranging from 1,200 square feet to 1,800 square feet in size with purchase prices ranging from $150,000 to $180,000. Each home will have a large front porch, 2-1/2 baths and a 2-car attached garage -- features convenient for today’s modern families and not readily available in competitively priced homes in the surrounding area. Home sales are being handled by Woodstone Realty (an affiliate of Woodstone Custom Homes, Inc.).
Brooks Court is on a site adjacent to the Brooks Landing area, where the City, the University of Rochester and private investors have made substantial investments in recent years. Brooks Court is within walking distance of the University and hospital, parks, and restaurants.
Woodstone Custom Homes successfully responded to the City’s June 2010 Valley Court request for proposals (RFP). The development cost will be more than $1 million and when completely built out, the value of the development, including infrastructure improvements is expected to be more than $5.5 million.
The City provided a $765,000 grant to support the affordable homeownership component of the project and is offering a limited number of substantial purchase price subsidy grants to income eligible (at or below 120% of Median Family Income) homebuyers who do not qualify for a residential mortgage from a lender at the original purchase price.
The City also intends to utilize existing homebuyer programs at Brooks Court. These include the Employer Assisted Housing Program and the Home Purchase Assistance Program. Combined, these may offer from $2,000 to $9,000 in incentives for qualified buyers.
Woodstone has invested in excess of $500,000 of its own equity and The Canandaigua National Bank is providing construction financing for the pre-sold, model and speculative homes. Woodstone has been a land developer and home builder in Monroe and Ontario Counties for 34 years, having constructed more than 400 single-family homes.
Woodstone homes have a custom touch of handcrafted quality and are known for their attention to detail, innovative design, quality of construction and investment value. The company designs, specifies and builds “portfolio homes” for clients looking for a move-in ready home and also builds “custom homes” for clients wanting to be involved in the design, specification, and selection process from the concept stage to the completion of the home. Woodstone develops and builds its own communities, ensuring the same quality and value from one house to the next.
Site engineering is being provided by Parrone Engineering and architectural plans are by Patrick J. Morabito. Site work is being performed by Monroe Roadways.
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News Media: For more information, Jeffrey Smith, President and CEO of Woodstone Custom Homes, Inc. Jeffrey Smith at 329-6217.