M&T Bank’s regional Rochester headquarters has a new home. On Friday the bank officially unveiled its new space at the building formerly occupied by Frontier Communications on South Clinton Avenue.
M&T had its regional headquarters on East Avenue near Union Street for a number of years, but regional president Dan Burns says they really needed some updated offices.
“We as a bank said if we’re going to attract new employees, and retain existing ones we need to create a better work environment for our team and that was kind of one of the big reasons why we looked for other space.”
M&T will occupy the top two floors of the building on South Clinton, which will now be known as ‘3 City Center.’
M&T is spending around $7 million on the renovations, but says it will actually save about $6 millionover a ten year period through the way the lease is structured and the advantages of being in a new space.
Burns says M&T is glad to be part of the renaissance going on in that area of downtown, especially since it has already helped finance some local projects.
‘We financed the Tower280 project, which has been a real success, now we’re working with Andy Gallina on The Metropolitan , that’s going really well. We’ve done the Xerox Tower, we did the financing on that for the Glazer family, so now we’re all neighbors,” he told WXXI News.
M&T has about 225 employees in its regional headquarters and Burns says they hope to eventually increase that number.
