News: Brokerage

Cornerstone Group celebrates completion of Union Meadows II

Union Meadows II, developed by Rochester's Cornerstone Group, Ltd. and Providence Housing Development Corporation, is an affordable 42-unit apartment project constructed on Union Square Blvd. Each unit has an attached one car garage. A 2,200 s/f community building exists for the residents use. The project is 100% occupied. The units are designed for well-elderly with modest monthly incomes; working families with children; and physically disabled individuals, both elderly and family, who require handicapped accessible units. Five units will be handicapped accessible and two units accessible to visually and hearing impaired. Lifetime Assistance and Catholic Charities Community Services refer potential residents to these special need units. LECESSE Construction was the general contractor. The project was designed by SWBR Architects and Parrone Engineering. Providence Housing Development Corporation manages the property. The project was financed by partners including NYS Division of Housing and Community Renewal, Federal Tax Credit Assistance Program funds, Federal low income housing tax credits, Federal Home Loan Bank/M&T Bank, Monroe County, The Greater Rochester Housing Partnership, JPMorgan Chase Bank and WNC & Associates, Inc. Rochester's Cornerstone Group, Ltd. is a real estate development, consulting, brokerage and property management firm.
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Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent