Governor Andrew M. Cuomo today announced that the University of Rochester has officially broken ground on College Town, a $100 million redevelopment project that will establish retail and dining space, hotel and conference facilities, parking, and housing for the Mt. Hope and University communities and area visitors. Lieutenant Governor Robert J. Duffy today joined with University of Rochester officials, Mt. Hope community members, local government officials and project partners to celebrate this major milestone in the development of College Town.
"The Regional Economic Development Councils have been a tremendous success in communities across New York State, bringing together businesses and local leaders to chart their own economic destiny," Governor Cuomo said. "Today's groundbreaking marks yet another success, as an investment by the Regional Councils is paying off big time in the Rochester area, creating jobs and helping grow the local economy."
The College Town project was awarded $4 million through Governor Cuomo's Regional Economic Development Council initiative, as part of the Finger Lakes Regional Economic Development Council's (FLREDC) second round "Best Plan' award of $96.2 million. The State's investment is in support of the FLREDC's goal to create 50,000 new jobs in the region over the next five years.
"Once again, New York State's innovative, bottom-up approach to economic development, the Regional Economic Development Councils, is working to create jobs and spur growth here in Rochester," Lieutenant Governor Duffy said. "Today is a great day for Rochester, and the entire region, as we celebrate this project that will have an incredible impact on the University of Rochester and the surrounding community. Under Governor Cuomo and this administration, jobs are being created all across New York and our economy is coming back stronger than ever before."
"This is a historic day for the City of Rochester," said University of Rochester President and FLREDC Co-chair Joel Seligman. "College Town is an excellent model of how public-private partnerships should work. We have enjoyed and been grateful for the incredible support we have received at every level of government, from stakeholders throughout the University community, and pivotally, from our neighbors."
College Town is a comprehensive plan to redevelop 14 acres of University-owned property with 500,000 square feet of retail and dining space, hotel and conference facilities, parking, and housing for the Mt. Hope and University communities and area visitors. Completion of College Town is projected for late fall 2014. The project is designed to promote walkability with wide footpaths and green space; and $17 million in public infrastructure improvements are currently in progress by the City of Rochester at the Mt. Hope and Elmwood intersection, including landscaped medians, new sidewalks, broadened roadways, reduced curb cuts, new signals, signage, and traffic controls.
Upon its 2014 completion, College Town will feature a Hilton Garden Inn and Conference Center; square-foot, fresh-market concept grocer; Barnes & Noble bookstore that will be the University's official bookstore; street-level retailers; second-story, grade-A office space, and housing; and 1,500 parking spaces, including 948 University-designated spots, surface lots, and on-street parking.