New York State Homes and Community Renewal recently broke ground on The Eastman Reserve in Rochester, the first large-scale new construction development to occur in Eastman Business Park in decades.
The development will be located on a previous Kodak parking lot along the western portion of Eastman Avenue. The $52.9 million mixed-income development will feature 187 rental units and commercial space within 17 buildings; 27 units will be targeted to homeless young adults who will have access to on-site support services.
Rental rates at The Eastman Reserve, which is being developed by Rochester nonprofit PathStone, will be available to residents who earn between 60 percent and 130 percent of area median income, with 27 units offering support services for homeless young adults. Utilities are paid for by the owner.
The Eastman Reserve boasts amenities such as a clubhouse with a computer lab, on-site staff offices for resident services and property management, community room with a fireplace and kitchenette, wraparound porch and laundry room. Other amenities include modern floor plans, in-unit washers and dryers, stainless steel appliances, patios and balconies, a playground, a pavilion with grilling stations, a fitness center, a rooftop patio, private parking, secure interior bicycle storage, video entry security intercom and on-site video surveillance cameras, 24-hour emergency maintenance and a dog park exclusive for the residents.
This latest development builds on the rebirth of Eastman Business Park, the site where Kodak started manufacturing photographic film and paper more than a century ago. The campus now supports nearly 100 companies employing more than 6,000 people. Eastman Reserve is part of an urban revitalization strategy, and the unit mix with the amenities will spark transformation of the westerly portion of EBP. Under an approved master plan for mixed-use redevelopment of the entire EBP, a number of manufacturing buildings are undergoing commercial redevelopment as part of the photonics industry cluster growing in Rochester.
This is the first EBP site that will have residential development. The Eastman Reserve is designed to provide residential density and commercial/retail to aid in the regeneration of the Greater EBP neighborhood by combining employment, education and housing opportunities with nearby amenities including The Mall at Greece Ridge, Genesee Riverway Trail, Seneca Park Zoo, Kodak Center for the Performing Arts, Monroe Community College Workforce Development Center, Maplewood YMCA and Ontario Park.
The state’s investment in The Eastman Reserve comes through NYSHCR programs, including $25.5 million in tax exempt bonds, $10.6 million in state and federal new construction capital program, $5.1 million from HCR’s middle income housing program and low-income housing tax credits that will generate almost $20 million in equity for the project. NYS Energy Research and Development Authority provided $150,000. Additional local public and private partners include the Maplewood Neighborhood Association and West Ridge Road Business Association, the city of Rochester, JPMorgan Chase Bank and PathStone Corp.
“Across Eastman Business Park, in buildings that formerly housed Kodak manufacturing, companies from across the world have chosen to call EBP their home,” said State Sen. Joseph Robach, R-56th District. “With The Eastman Reserve, Rochesterians from across our community will be able to call the Eastman Business Park their home. With these new 187 housing opportunities, Eastman Business Park will not only be providing businesses with the resources to grow and succeed but that same spirit will also extend to the families who will call this development home.”
“This groundbreaking further demonstrates what we as a community can achieve when we come together, and it takes us one step closer to ensuring every person in our community has a stable and secure place to call home,” said Assembly Majority Leader Joseph Morelle, D-136th District. “By expanding access to affordable housing options and providing access to critical support services for the most vulnerable among us, we are offering hard-working families and individuals much-needed hope and the opportunity to participate in building a stronger and more vibrant Rochester.”
PathStone Corp. is working in conjunction with Christa Construction LLC, NH Architecture, Marathon Engineering, EC4B, Jensen Engineering, Sustainable Comfort Inc. and Flaherty Salmin CPAs to complete this development.
The Eastman Reserve is scheduled for full completion in spring 2020, with a phased lease-up expected to begin in late 2018 for units that are completed early. People interested in leasing the units should contact PathStone Property Management at (585) 546-6340 and request to be put on an interest list.