Rochester City Council Votes In Favor Of Development Projects For Affordable Housing

Rochester City Council voted Tuesday in favor of appropriations, loans and tax incentives for local development projects to provide affordable housing — while redeveloping an old building that had become a downtown eyesore and creating a new branch of the public library. Among them: Cain Properties’ redevelopment of the old Hotel Cadillac on Chestnut Street downtown into the “Fine Arts Building Lofts.” The $21 million project will include the creation of 42 studio and one-bedroom apartments for people with lower incomes. Planned amenities include on-site laundry, storage, owner-provided utilities, and high-speed internet. Financing comes from loans, grants, community investment funds and other sources from city, county, state and federal governments. Renovations are expected to begin late this year and be done by 2027. City Council also approved a funding agreement with the Rochester Housing Authority for its nearly $38 million Fernwood Avenue Apartments project. RHA will build a four-story building with 65 affordable rental units, along with a new branch of the Rochester Public Library. City Council approved $3.3 million in funding for the library.

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Source: WHEC-TV