City of Rochester
News Release
(Tuesday, Sept. 18, 2012) – Mayor Thomas S. Richards, City Council Vice President Dana Miller, Council member Carolee Conklin and Neighborhood and Business Development Commissioner R. Carlos Carballada joined Riverview Rochester LLC partners Ben Kendig and James Philippone today to cut a ceremonial ribbon celebrating the grand opening of the newly converted residential and commercial property at 44 Exchange Blvd.
“Today is a great day for Downtown Rochester because an important building is about to be occupied for the first time in more than a dozen years,” said Mayor Richards. “That is a tremendous testament to the re-birth of our Center City and to the skill and dedication of the developers who made it happen. I want to thank Ben Kendig and James Philippone for their confidence and commitment to Rochester.”
“The building was first purchased for office re-development,” said Developer James Philippone. “However, as the demand for Downtown housing increased, we felt that the building was physically well suited for residential use and was conveniently located near the Four Corners, which has a lot of potential as a residential hub. We hope this building can become a catalyst for additional development in this area.”
The $6 million project was supported by a $1.3 million City grant and $1 million from the State Restore New York fund. It involved the conversion of a vacant office building into 24 state-of-the-art live-work apartments and one to two floors of commercial space.
Eight of the residential units are affordable to households or individuals earning up to 120 percent of the area median income. Each apartment can serve as an office, and is fully wired for high-speed Internet and cable television. The building includes state-of-the-art security features, high-end kitchens and bathrooms, washers and dryers, storage space, a conference room and a fitness center. Parking is available in the lot adjacent to the building.
Many of the building’s 1950s-era design features have been restored or duplicated. The building, which formerly served as Central Trust Bank building, is the last remaining example of Post War Modernism in the Downtown area.
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News Media: For more information Director of Business and Housing Development Bret Garwood at (585) 428-6150.