Mascia Development LLC has purchased the former Heritage Hall property in Canandaigua for more than $3 million. The building is to be used as housing for students at Finger Lakes Community College.
The real estate firm, based in New York City with an office in Rochester, is investing more than $2 million to renovate the facility. When completed, the newly branded “CampusGate at Finger Lakes”—located on Lakeshore Drive across from FLCC College—will provide affordable and convenient off-campus housing option for students, the company said.
Heritage Hall had been used for FLCC students.
The property will feature 112 single, double and triple suites, ranging from $549 to $699 per person per month. The apartments include utilities, high-speed WiFi, cable TV, fully furnished bedrooms, a 37-inch HD flat-screen television, and kitchen appliances. Other on-site amenities range from a swimming pool and a fitness center, to a movie room and a newly resurfaced basketball court.
Mascia Development is offering nine-month leases for FLCC students, and more than 70 percent of the rooms have been leased for the upcoming school year.
“Mascia Development is excited to give FLCC students a brand-new, convenient housing alternative that is more affordable than on-campus housing and that offers numerous advantages over existing off-campus options,” said Mark Mascia, Mascia Development president and CEO, in a statement. “CampusGate marks our first major acquisition in the area and exemplifies our company’s strategy to be an active player in the student housing and real estate markets in the Finger Lakes region and across Western New York.”
Construction of CampusGate at Finger Lakes will be completed by July 31 with students moving into units in August, the company said. The project currently employs three full-time permanent staff and more than 20 part-time construction workers.
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