Groundbreaking today for the 100-million dollar College Town project in the Mt. Hope Avenue-University of Rochester area.
U of R President Joel Seligman says it will be a magnet to strengthen staff and faculty at the U of R, and the neighborhood.
14 acres of University of Rochester owned property in the Mt. Hope Avenue area will be redeveloped -- adding a hotel, retail, office and dining space, parking and housing.
20-million dollars in funding from the project comes from a federal HUD Section 108 loan, and another 4-million dollars comes from the state.
The Monroe County Industrial Development Agency is supporting it through 13.5-million dollars in tax incentives.
Daniel Hurley, from the Mt. Hope Task Force, says it's an exciting day for the neighborhood, and aknowledges people will have to put up with some delays during construction.
Seligman says he hopes College Town will open during Meliora weekend in 2014.
Here's raw video of today's groundbreaking
Groundbreaking at College Town
