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A request for proposals has been issued to purchase and rehabilitate a 13-story city-owned building on Elm Street next to the Midtown Plaza site.
The property at 88-94 Elm St. presents a significant redevelopment opportunity in the heart of downtown on the east side of the 8.5-acre site of the former Midtown Plaza, city officials said late Friday afternoon.
“The redevelopment of this property is a critical and timely piece to the repositioning of downtown,” Rochester Mayor Thomas Richards said in a statement.
“With more than $120 million in investment, the momentum of the adjacent Midtown Rising project is essentially reinventing the surrounding real estate market. The redevelopment of 88-94 Elm Street property will build off of, and continue, that momentum.”
The city replaced the roof of the 83,000-square-foot steel and concrete building on 0.14 acres after acquiring it, and asbestos abatement has been completed, officials said.
The city is looking for a developer who will renovate and reuse the structure without exemption from real estate taxes, officials said. The uses should be compatible to and complementary with surrounding development.
Construction and development methods should be environmentally sensitive and sustainable, with a quality design that accentuates the public realm, officials said.
An informational meeting is scheduled for March 28 at 3:30 p.m. in City Council Chambers at City Hall. Property showings are set for April 4 and April 9 at 10 a.m.
Proposals must be submitted by 4:30 p.m. May 20.
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