Rochester, NY SWBR was recognized at the 2019 NAIOP Upstate New York Chapter Awards of Excellence ceremony for its design work on Rochester Institute of Technology’s MAGIC Spell Studios. Recognized with the Best Community Development Award, MAGIC Spell Studios is RIT’s center for media, arts, games, interaction and creativity. SWBR designed the facility with technology to create and commercialize computer gaming, film and animation, graphic design and imaging sciences projects. The studio provides students with an environment where they can launch their own companies in the city and is the first commercialization studio of its kind in the region.
The Commercial Real Estate Development Association’s NAIOP awards celebrate quality and innovative achievements of regional commercial real estate projects from the area.
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,