Developers Show Plans for Midtown Tower

By Carlet Cleare

WXXI – City officials and developers unveiled plans for Midtown Tower on Monday.
The city chose Christa Companies/Morgan Management Partnership as developers for the project.

The $71 million project will have more than 400,000 square feet of mixed commercial and residential space. That includes 186 market-rate rental units and 24 for-sale condominiums on the upper levels. Councilman and economic development committee chair Dana Miller says he's pleased the old Midtown Tower is being redesigned.

"This will be a fantastic addition to Rochester and it takes us that much further to our goal to bring more residents downtown," Miller says, "increasing the downtown population and driving the demand for retail and other services up that everybody knows we need downtown."

Developers will finance approximately $65 million of the project through FHA loans, and use $4 million in grants for the balance.

Developers say they'll break ground on the project next fall, are are expecting to complete it by mid 2012.