New York’s development professionals bring expertise, experience, best practices, and the resources of the state and their communities to every project they assist. These case studies are a sampling of those projects.

 
 
 

If you would like to submit your project(s) to be posted on the NYSEDC Web Site you can fill out either form: PDF Form or MS Word Form. Please send all submissions to: eaton@nysedc.org

 

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Midtown Rising/Windstream Offices

 

main_imageMidtown Rising is positioning Rochester, New York for its future by boldly shaping the rebirth of the downtown core through major public and private investment, job creation, and infrastructure development. This $122 million redevelopment of the 9-acre former Midtown Plaza, located at the heart of the Center City, into a mixed-use focal point will attract a critical mass of residents and 24/7 amenities that contribute to a vibrant live-work environment.

 

The $19MM Windstream project is the first private development to take hold on the Midtown Rising site. The shell of the former Seneca Building was preserved during the now-complete demolition of the six (6) Midtown Plaza structures. The Pike Development Company will develop and own the 109,000 square foot, three-story structure.

 

 

Project Need (problem)

The scale and location of the Windstream project and the uncertain economic climate rendered the need for financial assistance from New York State, the City of Rochester, and Rochester Gas & Electric (RG&E) to make the project viable.

Project Solution

The City of Rochester and RG&E worked with New York State and the County of Monroe Industrial Development Agency (COMIDA) to assemble a public sector incentive package for the Windstream project to close the financial gap. Incentives included a loan and grant from the City of Rochester, capital grant from the NYS Empire State Development Corporation, two (2) capital grants from RG&E for electrical infrastructure, and a partial tax abatement from COMIDA.

 

The first two floors will be occupied by up to 335 employees of the Windstream Corporation, and the third floor will be available for another tenant. Construction will be underway by mid-spring 2012 and be complete by August 2013.

 

To date, New York State has invested $55 million, along with $20 million from the City of Rochester, to acquire, remediate, and demolish the former Midtown Plaza site. The Midtown Rising plan breaks the site down into six (6) development parcels with a re-established street grid. Once completed, the site will accommodate about one million square feet of office, residential, hotel and retail space. The Midtown Rising redevelopment plan sets the stage for a resurgence of downtown activity and will help redefine Rochester’s City Center for future generations.