Ground was broken this afternoon on a new housing development at Eastman Business Park.
It's called The Eastman Reserve, and it's part of the overall plans to transform the 1,200 acre research, development and manufacturing campus.
The mixed-income, mixed use housing development will include space for commercial tenants. Up to 27 of the 187 units will be set aside for homeless young adults and survivors of domestic violence.
"It's going to be a potential source of housing for employees (of Eastman Business Park) as well as kind of a build into the neighborhood surrounding the park,” said Stuart Mitchell is president and CEO of PathStone Corporation, owner and developer of the property. “This property abuts the neighborhood that I think will probably experience some regrowth and redevelopment, as well."
The housing units will be within walking distance to the bike path that runs along the Genesee River, Kodak Center, and to the manufacturing section of the business park itself.
Dolores Kruchten, president of Eastman Business Park, says the development is a key component of the park's work, live, learn, and play strategy.
"And our logic behind that is, we've got this 1,200 acre park with a lot of wonderful manufacturing space. Today, a lot of companies are looking for, not only the capability of the site and the building, but the amenities around it."
The Eastman Reserve will be built on what is now a vacant lot near Ridge Road.
It will include townhouses, single-family rentals, a fitness room, club house, and a dog park. The $52.9 million project is getting funding from the state, county, and local governments as well as private donations.
Construction is expected to be completed in about two years.
