Quest for riverfront decision bypasses Rochester consultants, for now postbulletin.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from postbulletin.com Daily Mail and Mail on Sunday newspapers.
Rochester City Councilvoted unanimously to authorize the public financing support with limited discussion.
The approval came weeks after the DMC Corp. board approved using $2.2 million in DMC state infrastructure funds to support the $39.3 million project.
Known as the Bryk on Broadway Apartments, the planned six-story building will be constructed at the intersection of Civic Center Drive and North Broadway, across from the Kemps dairy facility.
Under the development assistance agreement approved Monday, all units in the complex will be rented below market rate.
The 30-year agreement calls for 54 apartments to be affordable to households earning $50,000, which is 50% of the area median income. Another 18 units will be available for people earning nearly $61,000, with the remaining 108 apartments dedicated to households earning $78,500 a year, which is 80% of the area median income.
DMCC board backs planned apartment complex catering to mixed incomes postbulletin.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from postbulletin.com Daily Mail and Mail on Sunday newspapers.
How has DMC met job and tax goals in first 5 years?
With 7,700 new jobs since the economic development initiative was launched, work has also boosted local and state tax revenues. 7:34 am, Dec. 31, 2020 ×
Construction continues on the 2 Discovery Square project Monday, Dec. 21, 2020, in downtown Rochester. (Joe Ahlquist / jahlquist@postbulletin.com)
Destination Medical Center’s initial steps into the next five years of its 20-year plan come with the uncertainty of how the economy will recover from the pandemic.
At the same time, DMC Economic Development Agency Executive Director Lisa Clarke said meeting the first five-year DMC targets has put Rochester in a position of strength.