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City of Rochester Receives Communication on Riverfront Redevelopment Site
The City of Rochester received a communication from Bloom International Realty LLC regarding the Rochester Riverfront Redevelopment Project. In its communication, Bloom indicated its desire to continue to move forward with a revised proposal but did not provide any date for future correspondence. In addition, Bloom also recognized that it cannot stand in the way of the site being offered to other developers.
The Rochester City Council and Destination Medical Center Corporation Board, at recent meetings, were very clear that it’s time to move on, take a step back, and reevaluate the future redevelopment options for this prime riverfront location.
City Administrator Steve Rymer states, “Rochester is a much different place than it was four years ago. There’s been significant growth and vitality in the market, specifically in the downtown DMC district. This includes more than a half a billion dollars invested in housing, hospitality, and commercial developments. Plus, there are new projects in the pipeline, including the expansion of Mayo Clinic’s Gonda building to accommodate additional clinical space and a new hospitality option. We are excited about the momentum.”
The City of Rochester has been working with Bloom exclusively on the redevelopment of the riverfront site for nearly four years. During this time, the project has gone through several iterations. The project was submitted for approval in January 2018, with financial assistance and necessary agreements receiving approvals throughout the course of the year. In late December 2018, Bloom indicated a desire to change phase two of the proposal and terminated the land purchase agreement.
City Administration will bring forward a proposed approach for next steps to the City Council in the next month.