Renovation of Midtown Tower will begin late this year and is scheduled to be completed by the end of 2014, developer Laurence Glazer said Tuesday. Acquisition of the 17-story tower is expected to close in July or August, he said.">
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Renovation of Midtown Tower will begin late this year and is scheduled to be completed by the end of 2014, developer Laurence Glazer said Tuesday.
Glazer, CEO and managing partner of Buckingham Properties LLC, and Morgan Management LLC CEO Robert Morgan are partners on the $55 million development.
The partnership expects to close on the acquisition of the 17-story tower in July or August, Glazer said at the Rochester Downtown Development Corp.’s Downtown Rising event at the Radisson Rochester Riverside Hotel.
The Midtown Tower project was one of several downtown initiatives discussed at the event.
The project will result in retail space on the first floor, office space on the second and third floors, and pet-friendly residential apartments on the upper 14 floors, he said. The project will include a dog park outside the building.
Because of structural deficiencies, the first three floors on the west end of the building’s north side will be torn down and rebuilt, Glazer said.
He wants to create a “Tower District” at Broad Street and South Clinton Avenue, Glazer said. He is waiting to close on the purchase of the Xerox Tower at 100 S. Clinton Ave.
Gilbert Winn, managing partner of the Winn Cos., said work continues on the redevelopment of the Sibley Centre, with a city police station scheduled to open on the first floor in July.
The installation of a new security system is complete, Winn said, as is a renovated stairway. A new façade and streetscape outside the building will be completed this summer.
Winn continues to hope Monroe Community College will remain at Sibley Centre and not move its downtown campus to Eastman Kodak Co. property on State Street. If MCC moves, he said, the company will search for new tenants to replace the college.
The Center for Urban Entrepreneurship is scheduled to open this fall on Franklin Street, said dt ogilvie, dean and professor of business strategy at Rochester Institute of Technology’s E. Philip Saunders College of Business, which is developing the center.
Work is going slower than expected while the college awaits grant funding, which could push the opening to spring 2014, ogilvie said.
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