Work on Broadway at Center project won't start until next spring
Work on Gus Chafoulias's Broadway at Center project — which won city approval nearly a year ago — is not expected to begin for several months.
"We have had some great progress lately with moving forward the financial and design pieces," said Sheila Thoma, director of marketing for Titan Development and Investments. "We hope to be breaking ground by spring. Earlier is possible depending on weather conditions."
The Destination Medical Center Corp. Board signed off on the 22-story project in April, allowing the city to count its $14 million investment into the project — $6.5 million in tax increment financing and the rest in infrastructure costs — toward its $128 million DMC contribution.
At the time, Titan suggested the broke could break ground "within weeks." But fast forward more than five months, the existing structure has not been touched. It's the second time in the past year that the project has been delayed. Construction was originally scheduled to start last spring.
The most recent plans for the building call for a 264-room Hilton Hotel, about three dozen housing units and commercial space. There will be a parking garage on the other side of Broadway, where Michael's once was, with a skyway connecting the two structures.
The project is estimated to cost somewhere between $110 million and $120 million. The city expects the project to spur $140 million in private investment, generate $1 million in annual tax revenue and produce 250 permanent jobs. It will be the biggest project in Rochester since the construction of Mayo Clinic's Gonda Building.
Worth noting: Reports have been all over the place (including ours) on whether its 22 or 23 stories. It will actually be 22 stories. However, there will be no 13th floor, meaning the elevator will go up to level 23.
(Cover graphic: Titan)