(Friday, March 8, 2013) – Mayor Thomas S. Richards announced that the City issued a Request for Proposals (RFP) today for the purchase and redevelopment of City-owned property located at 88-94 Elm Street. The deadline for submitting proposals is 4:30 p.m., Monday, May 20.
The City is seeking proposals from qualified development teams for the redevelopment of the approximately 0.14 acre parcel with an existing, vacant 83,000 square foot, 13-story steel and concrete structure. This property presents a significant redevelopment opportunity in the heart of Downtown Rochester adjacent to the transformative Midtown Rising project.
“The redevelopment of this property is a critical and timely piece to the repositioning of Downtown,” said Mayor Richards, “With more than $120 million in investment, the momentum of the adjacent Midtown Rising project is essentially reinventing the surrounding real estate market. The redevelopment of the 88-94 Elm Street property will build off of and continue that momentum.”
Upon acquisition of the property, the City replaced the roof and undertook asbestos abatement. The City intends to select a redevelopment proposal that:
- renovates and reuses the existing structure on the site;
- increases the tax base through a reuse that is not exempt from real estate taxes;
- includes uses that are compatible to and complementary with existing surrounding development;
- stabilizes land values and encourages investment in the surrounding neighborhood;
- employs construction and development methods that promote environmental sensitivity and sustainability; and
- includes high quality design that accentuates the public realm.
An informational meeting will be held at 3:30 p.m., Thursday, March 28, in the City Council Chambers, City Hall, 30 Church St. City staff will be available at the meeting to answer questions. Property showings are scheduled for 10 a.m. on both Thursday, April 4 and Tuesday April 9. Proposals should be sent to: Department of Neighborhood and Business Development, 30 Church St. Room 005A, Rochester, N.Y., 14614.
Visit www.cityofrochester.gov/88-94elmstreet to view the RFP and associated exhibits.
News Media: Contact Bret Garwood, Director of Development Services 428-6150 for more information.