Newly formed venture Morgan-LeChase Development; revealed by Morgan and Goodrich

Morgan Management, LLC and LeChase Construction Services, LLC have formed a joint venture − Morgan - LeChase Development, LLC − to provide a full suite of integrated planning, design, development, construction and management services. The new joint venture, equally owned by Morgan and LeChase, kicks off its formal partnership with the announcement of its plans to develop one of Canandaigua's most prominent lake shore properties − the 21 - acre parcel of land north of Lakeshore Drive, across from Kershaw Park. "We can't think of a more exciting and fitting way t o begin this powerful and synergistic relationship than with a landmark project on one of the most exceptional and promising properties on the shores of Canandaigua Lake," said Bob Morgan, President of Morgan Management. Bill Goodrich, president and CEO of LeChase, said, "We are honored to have the opportunity to play a role in developing what will be a signature project for sustained growth and development of Canandaigua and Ontario County." Both Bob Morgan and I share a very personal and profession al commitment to ensure that we work toward an end result of which the entire community will be proud." While no specific plans or drawings for the site were revealed today, Morgan - LeChase indicated they are planning to present their preliminary vision fo r the parcel at Canandaigua City 2 Council's Planned Unit Development (PUD) committee meeting, scheduled for Thursday, June 20, and open to the public. "This initiative represents a critical economic development priority for the City of Canandaigua and Onta rio County," said City of Canandaigua Mayor, Ellen Polimeni. "It will fulfill a long - standing vision for the City's lakefront, increase the community's tax base, and serve as a catalyst for other economic development activity and private investment," she added, " LeChase Construction Services has a proven track record of highly successful development projects in the Canandaigua area, including the Constellation Brands - Marvin Sands Performing Arts Center (CMAC) and F.F. Thompson Hospital. And Morgan Manage ment has considerable experience in signature mixed - use projects of this scope and scale," Polimeni said. "With Morgan - LeChase as the development company, I am confident that the future of this parcel could not be in better hands, and the entire Finger L akes area will benefit from its successful development," concluded Polimeni. About Morgan Management , LLC (www.morganmanagement.com) Morgan Management, LLC has owned and operated a residential and commercial real estate portfolio since 1976 . Morgan starte d in the Manufactured Home Communities market and now the real estate portfolio includes residential apartment communities, self - storage facilities, commercial office buildings and shopping plazas. With strong real estate principals and extensive experienc e in the ownership and management of high quality residential communities, today Morgan Management owns and manages more than 21,000 apartments along the East Coast and throughout the Midwest. About LeChase Construction Services, LLC (www.lechase.com) LeChase Construction is a full - service construction management and general construction firm with extensive experience in many sectors of the industry. Headquartered in Rochester, New York - with offices in Albany, Binghamton, Corning, Ithaca and Syracuse, New York, Mansfield, Pennsylvania and Charlotte and Durham, North Carolina - LeChase has constructed hundreds of buildings for clients throughout New York state, the eastern United States and as far away as the Uni ted Kingdom and Brazil. The nearly 70 - year old firm is well recognized for its strong commitment to superior quality, innovative solutions and safe practices. ###