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Posted: March 19, 2010
Rochester Cornerstone and IADC begin construction of $7.461 million project
El Camino Estates, a $7.461 million affordable 25-unit single family rental housing project on lots concentrated in the Conkey Ave./Harris St./Woodford St./Nielson St. neighborhood, developed through a partnership between Rochester's Cornerstone Group, Ltd. and Ibero-American Development Corp. (IADC), commenced construction. One of the units will be a rehabilitated home on Conkey Ave. The lots were selected to serve as the lynchpin for a neighborhood-driven redevelopment effort which is part of a comprehensive plan underway. The project consists of nine three-bedroom units and 16 four-bedroom units.
Seven of the lots back up to the new El Camino Butterhole-Seneca Park Trail, the pedestrian trail which is being developed under the leadership of the Genesse Land Trust and is slated to be completed in the near future.
Atlas Builders is the general contractor. The project was designed by SWBR Architects and Stantec while Landsman Real Estate Services will manage the property.
The project is being financed by partners including NYS Division of Housing and Community Renewal Housing (federal low income housing tax credits and federal stimulus funds), city of Rochester, Richman Capital Group, developer equity and JPMorgan Chase Bank.
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