Governor Hochul Announces Start of Construction On 76-Unit Mixed-Use Development in Downtown Rochester

Alta Vista at St. Joseph’s Park Transforms Formerly Vacant Land into Vibrant Affordable Housing Development with Public Event Space

Builds on Governor Hochul’s Commitment to Increase Housing Supply Across New York

Follows Rochester’s $10 Million Downtown Revitalization Award and Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy

April 4, 2024 – Governor Kathy Hochul today announced construction has begun on a highly sustainable and affordable mixed-use housing development in downtown Rochester. Located adjacent to the historic St. Joseph’s Park, the all-electric Alta Vista apartment building will include 76 units and space for public events. The development furthers the city’s goal of achieving a more vibrant downtown as part of its $10 million New York State Downtown Revitalization Initiative award.

“Tackling the housing shortage means building and preserving affordable homes in every region of New York,” Governor Hochul said. “This new development builds upon my administration’s continued investments to revitalize downtown Rochester and ensure that more New Yorkers have a safe, stable place to call home.”

In the last five years, New York State Homes and Community Renewal (HCR) has created or preserved over 3,800 affordable homes in Rochester. Alta Vista at St. Joseph’s Park continues this effort and complements Governor Hochul’s $25 billion comprehensive Housing Plan that will create or preserve 100,000 affordable homes across New York, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.

Alta Vista at St. Joseph’s Park will be constructed on four vacant lots along Franklin, Pleasant and Andrews Streets in downtown Rochester, and within the city’s DRI target area. The six-story building will include 76 apartments and 2,600 square feet of commercial space to be used by The Landmark Society of Western New York for free public event programming and special private occasions tied to the historic St. Joseph’s Park.

All 76 apartments will be affordable to households earning at or below 80 percent of the Area Median Income. There will be 14 apartments reserved for households experiencing or who are at-risk of homelessness. These households will have access to on-site supportive services and rental subsidies funded through the Empire State Supportive Housing Initiative and administered by the Office of Temporary and Disability Assistance (OTDA). The service provider is the YWCA of Rochester and Monroe County.

Alta Vista at St. Joseph’s Park is supported by $570,000 from the Clean Energy Initiative to achieve even higher levels of sustainability and carbon reduction. The all-electric building, which features a rooftop solar array, is expected to achieve identified goals of Passive House Certification and the Energy Start Multifamily New Construction Program. Alta Vista will receive further certifications for Department of Energy Net Zero Energy Ready Homes and Environmental Protection Agency Indoor AirPlus.

The building’s exterior will consist of stone similar to the surviving walls of the neighboring St. Joseph’s Church and large archways on the building’s entrance will replicate the historic church details.

Residential amenities will include free high-speed broadband and Wi-Fi internet, a laundry room, a community room with kitchen, multiple lounges, on-site parking, tenant storage, an outdoor patio, and an indoor children’s play area.

The project’s developer is Ibero-American Development Corporation. Edgemere Development, Inc. is the consulting developer.

State financing for the development includes $16.5 million in Federal and State Low Income Housing Tax Credits and $11.1 million in subsidy from HCR. OTDA provided $2.6 million through the Homeless Housing Assistance Program. Alta Vista was awarded $1.2 million from the DRI and an additional $200,000 in DRI funding was allocated to the St. Joseph’s Park Improvement project.

In addition, the Community Preservation Corporation is providing $1.3 million in permanent financing, and the city of Rochester awarded $1 million in HOME funds. Aetna/CVS Health is the CREA tax credit investor for the project.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Across the state, Governor Hochul is investing in developments like this one that provide affordable homes for New Yorkers and contribute to livelier and more vibrant downtown districts. For the 76 households residing at Alta Vista, they will benefit from a stable home, a healthy and sustainable living environment, and enjoy access to life-enhancing amenities while living next door to the city’s iconic St. Joseph’s Park. We are grateful to the Ibero-American Development Corporation, the city of Rochester and our agency partners for collaborating on this one-of-a-kind development.”

New York Secretary of State Robert J. Rodriguez said, “The Downtown Revitalization initiative is so effective because of its holistic approach considering all facets of what a successful downtown should be. The winning recipe for reinvigorating communities across the state must include housing, businesses, jobs, and recreation and the Alta Vista project has all the right ingredients. Governor Hochul’s continued support for this program makes events like today possible as Rochester works to transform their downtown landscape.”

New York State Office of Temporary and Disability Assistance Acting Commissioner Barbara C. Guinn said, “The Homeless Housing Assistance Program’s investment in Alta Vista at St. Joseph’s Park will provide Monroe County residents experiencing or at-risk of homelessness with long-term housing stability and access to critical on-site support services that will help them address the underlying conditions that may have contributed to their housing insecurity. We are grateful for Governor Hochul’s strong support of the Empire State Supportive Housing Initiative and for being a relentless advocate for New Yorkers who have experienced homelessness.”

Representative Joe Morelle said, “Like many regions, Rochester faces a number of complex challenges, including a shortage of affordable housing. These 76 new affordable apartment units will help alleviate this burden and uplift families across our community. I’m grateful to Governor Hochul for her leadership and commitment to supporting Rochester families, and I look forward to our work continuing our work together to create opportunities and brighter futures for everyone who calls our community home.”

State Senator Jeremy Cooney said, “Alta Vista at St. Joseph’s Park is coming at the perfect time to help alleviate our housing crisis and provide high-quality, affordable homes to our community members who need it most. I want to thank Ibero-American Development Corporation and all those involved in setting the standard for sustainable, affordable housing in the heart of downtown Rochester.”

Assemblymember Demond Meeks said, “Affordable, quality housing is one of the most basic necessities that many of our residents have been forced to go without. Alta Vista’s six-story building will provide reliable housing for our residents and families, as well as provide them direct access to dependable resources and services. With the revitalization of our neighborhoods, it is important that we continue to make meaningful investments such as these that uplift underserved members of our community. Thank you to Alta Vista at St. Joseph’s Park, the Community Preservation Corporation, and the City of Rochester for being a part of this transformative project.”

Monroe County Executive Adam Bello said, “As we break ground on Alta Vista at St. Joseph’s Park, we’re not just laying the foundation for a building, but for a brighter, more inclusive future for Rochester. This project embodies our commitment to affordable housing, sustainability, and the revitalization of cherished historic spaces. Thank you to Ibero-American Development Corp., the state of New York, Governor Kathy Hochul and the City of Rochester for supporting and moving this project forward. Together, we’re building more than homes; we’re building hope and opportunity for our residents and future generations.”

Rochester Mayor Malik D. Evans said, “Alta Vista at St. Joseph Square is a critical component of the Downtown Revitalization Initiative that provides 76 new affordable homes to our Center City, advances the goals of our Climate Action Plan, and brings new vitality the historic St. Joseph’s Park. By contributing to the growing live-work-play environment of Downtown Rochester, Alta Vista at St. Joseph Park and the Downtown Revitalization Initiative are helping us create a safe, equitable and prosperous Rochester by inspiring hope and delivering opportunity for everyone and I want to thank Gov. Kathy Hochul, Commissioner RuthAnne Visnauskas of New York Homes and Community Renewal, the team Ibero American Development Corp., and our many partners on this project for making this investment in our city.”

IADC Executive Vice President Eugenio Marlin said, “IADC is very proud to sponsor Alta Vista at St. Joseph’s Park which primarily addresses some of our area’s need for quality and affordable housing. This project is an important asset to Rochester’s Downtown Revitalization Initiative, and its location is key to the future development of the Inner Loop North by being part of a bridge between Center City and the adjacent communities to its north.”

Edgemere Development, Inc. Partner and Senior VP of Real Estate Development Chris Roland said, “We are thrilled to see this project underway and grateful for the public and private partnerships that make these transformative projects possible. Edgemere is proud to partner with IADC once again, and see progress after years of planning, beginning with the City’s RFP for the site in 2019. This project will further transform downtown Rochester, replacing old parking lots with new mixed-use investment, and enhance the connection with St. Joseph’s Park and the neighborhoods to the north.”

Community Preservation Corporation Vice President and Mortgage Officer Miriam Zinter said, “Projects like Alta Vista at St. Joseph’s Park demonstrate the impact that mission-driven investments can have in meeting the unique housing needs of a community. This new all-electric building will provide quality, affordable housing, as well as supportive services that will allow the residents to find the stability they need to thrive. My thanks to Ibero-American Development Corporation, Edgemere Development, and the YWCA, and to Governor Hochul and her teams at HCR and OTDA for their commitment creating to a more affordable, sustainable, and equitable New York.”

The Landmark Society of Western New York Associate Director Larry Francer said, “The Landmark Society is excited to be partnering with Ibero–American Development Corporation on the Alta Vista at St. Joseph’s Park project. The impact to the neighborhood and to St. Joseph’s, our beautiful urban park, will be immeasurable. With Landmark’s planned occupancy of the commercial space, we intend to expand our programing into this beautiful indoor facility that will draw more visitors to our downtown and create even more opportunities for community engagement.”

Northeast Region at Aetna, a CVS Health Company President Jason Tompkins said, “Housing stability and affordability are key drivers of positive health outcomes. We’re committed to investing in the Rochester community and meeting the needs of individuals and families by providing valuable resources that will enable them to achieve better health. This investment in Alta Vista will help to ensure equal opportunity for residents to live healthier lives and reach their fullest potential.”