University of Rochester

College Town Moves Forward With $4 million Funding

December 19, 2012

"This is a historic day for the City of Rochester and the University of Rochester as we move forward with College Town," said President Joel Seligman.

On Wednesday, Dec. 19, the College Town project received $4 million from New York's Regional Economic Development Council program, as part of a total $96.2 million award to the Finger Lakes Regional Economic Development Council representing the state's investment in projects aimed at creating 50,000 new jobs in the region over the next five years.

College Town, at the intersection of Mt. Hope and Elmwood avenues, is a planned, mixed-use development project that links the University's presence with the community to create a friendly atmosphere for students, residents and shoppers alike.

"This project will create a vibrant neighborhood, enhance the quality of life for this community, and spur economic development by adding hundreds of jobs and millions in tax dollars to the city and region," continued President Seligman. "Let me express my sincere gratitude to the outstanding partners who have made College Town possible, including Mayor Tom Richards and the City Council, College Town of Rochester development partners Fairmount Properties and Gilbane Development, the Mt. Hope Task Force and our neighbors, and the many others here who worked on this great project. I want to especially recognize Ron Paprocki for his vision and leadership, persistence through the many steps of this extremely complex project, and the outstanding coordination efforts by him and his team with our partners.

"I also want to extend a special thanks to Governor Andrew Cuomo, Sen. Chuck Schumer, Rep. Louise Slaughter, and the state officials who have provided unwavering support of this transformative project."

Paprocki, senior vice president for administration and finance and CFO, said: "With the University as one of several partners in the College Town project, I'd like to express my gratitude to Governor Cuomo and New York State for a $4 million investment into our community. College Town is one of the Finger Lakes Regional Economic Development Council's 2012 Priority Projects that advances our region's strategic growth and vitality, and with this support we now look toward a formal groundbreaking early in the new year."