This Week
  • Natalie Sinisgalli turned a high-school dream into a studio of her own.

  • The first apartments will be ready next spring at Southpoint Cove in Penfield.

  • Research and development efforts in construction come from collaboration.

  • CEO Dawn Smith worked her way up through the ranks at Pace Electronics of Sodus.

  • Aloi Solutions LLC is focusing on automation and integration to grow.

  • The RBJ 75 supplement presents a list of the 75 largest private-sector employers.

Converted Exchange Blvd. property opens

Rochester Business Journal
September 18, 2012

Newly converted residential and commercial property at 44 Exchange Blvd. was officially opened Tuesday.

The building, purchased by developer James Philippone, features 24 apartments, with commercial space available on the first floor and possibly on the second floor, officials said.

Eight apartments are available to households or individuals earning up to 120 percent of the area median income. All units can be used as office space, and are wired for high-speed Internet and cable television.

The apartments have washers and dryers, high-end kitchens and bathrooms, and state-of-the-art security, officials said. The building includes storage space, a conference room and a fitness center.

“The building was first purchased for office redevelopment,” Philippone said in a statement.

“However, as the demand for downtown housing increased, we felt that the building was physically well-suited for residential use and was conveniently located near the Four Corners, which has a lot of potential as a residential hub.”

The $6 million project was aided by a $1.3 million grant from the city of Rochester and $1 million in state funding.

The building is the former home of Central Trust Co., and the last remaining example of post-war modernism in the downtown area, officials said.

Many of its 1950s-era design features have been restored or duplicated, officials said.

“Today is a great day for downtown Rochester because an important building is about to be occupied for the first time in more than a dozen years,” Mayor Thomas Richards said in the statement.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google