News: Brokerage

Taylor awarded contract to renovate lofts at Temple Building; 9x30 Design and Smith + Associates for design and renovation

Taylor, a leading regional general contractor, has been awarded a contract for renovations at the historic Temple Building by developer Costanza Enterprises, LLC. Taylor has teamed with local firms 9x30 Design Architecture and Smith + Associates for design, and renovation of floors 9-12 into 30 one and two-bedroom loft apartments at 14 Franklin St. Construction work is currently underway, with an overall project completion date slated for December. "The continued revitalization of the grand Temple Building exhibits the growing opportunities for upscale city living," said Taylor president, Karl Schuler. "Taylor looks forward to developing a long-standing relationship with Costanza Enterprises, as we help bring additional unique loft living options to the center of Downtown Rochester." The Temple Building is converting four existing commercial floors into residential lofts, increasing the total number of lofts in the building from 51 to 81, or almost 40%. The 30 new units average 1,000 s/f and are comprised of 13 one-bedroom units and 17 two-bedroom units. These lofts will feature a suite of amenities, such as brand new bamboo floors, exposed brick walls, and updated kitchens. This project represents the third phase of modern redevelopment for the historic building, originally dedicated on September 7, 1925 as a fourteen-story "Skyscraper Church." Phase one, occurring in 2001, featured the entire infrastructure of the building being replaced. In 2010, 10 loft units were added to the second and third floors.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,
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
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