The former Midtown Plaza site in downtown Rochester is getting a boost thanks to investment from some high-profile developers.
City leaders announced the $55 million dollar project at a Rotary Club luncheon. Morgan Management and Buckingham Properties have signed on to develop the old Midtown Tower.
The steel shell of which still remains on the downtown site where America's first indoor shopping mall used to sit. The project calls for between 160 and 182 rental apartments and three to five stories of office space.
"Let's face it, we had to get Midtown Tower solved. It's the biggest piece of the property down there. We preserved the frame which has a lot of value," said Mayor Tom Richards.
"I think it's a great project at the right time and the right place, and there's a terrific amount of opportunity and momentum right now," said developer Larry Glazer.
Glazer says the new plan is different than a previous proposal for Midtown Tower, which included two dozen luxury condos.
The project is slated to be finished by the end of 2014.