Project Development
The Project Development Division facilitates the revitalization of the city of Rochester through redevelopment planning processes, the development of mixed-use projects, and the renovation of vacant and underutilized buildings by:
Providing loan funding for projects.
The City can provide gap financing for eligible mixed-use development projects. Typical assistance is no more than 10% of total development costs.
Tower280 and Sibley Square are examples of this. Tower280 comprises 181 residential units and approximately 130,000 square feet of commercial space, including office and restaurant tenants.
Sibley Building redevelopment created 83 market-rate apartments, 21 affordable units, 72 units of affordable homes for seniors, retail space, and office space, including High Tech Rochester, a startup incubator.
Click here for the Financial Assistance Application
Small Mixed-Use and Commercial Renovation (SMUCR) program
The City can provide low-interest loans of up to $250,000 for the renovation of small commercial and mixed-use buildings.
Applying for and administering grants and/or loans from other funding agencies.
Center City Place and College Town are examples of this. Center City Place, located at 131-163 State Street, received funding from Empire State Development through the Restore New York program. The project rehabilitated five buildings, comprising 41 market-rate residential units and over 14,000 square feet of office and retail space.
The College Town development utilized the HUD Section 108 Loan Guarantee Program and returned an underutilized site to productive use through the creation of a 14-acre district. College Town created 154 housing units and 270,000 square feet of hotel, office, and retail space.
Facilitating the City’s PILOT (Payment in Lieu of Taxes) Process
Click here for the PILOT Application
Other tax incentive programs include:
- Core Housing Owner Incentive Exemption (CHOICE): This program offers property tax exemptions for the creation owner-occupied residential units. Additional benefits available from COMIDA may include a sales tax exemption on construction materials and mortgage tax exemptions.
Conversion Urban Exemption Program (CUE): This tax incentive program encourages the conversion of underutilized office, retail, manufacturing, and warehouse building to residential use. CUE is restricted to mixed-use conversion projects also located in the Center City District. The 12-year exemption applies to the increase in assessed value from the conversion to mixed-use. The exemption is 100% for the first 8 years and declines 20% per year thereafter. A minimum of 25% of space must be developed as residential and the owner must at minimum invest $250,000 in the conversion project.
Development Resources
Let us work with you to find the right site for your development project. Take a tour of Rochester's potential project sites or jump to specific site information by using the Development-Opportunity Sites in Rochester page.
The City welcomes new development, new investment, and building better communities. "Development Considerations" includes things to consider early in the development process to help create a successful project.
Click here for Development Considerations
Check out the Developer Guidance Handbook. This handbook outlines the philosophy, vision, regulations, and procedures related to development when working with the City of Rochester.