Value: $100 million
WinnDevelopment
Sibley Square Historic Preservation Rochester, NYCompletion Date: Ongoing
Market
Sibley Square, a historic 1.1 million square foot building nestled in downtown Rochester, is currently undergoing a multi-year, multi-phase historic preservation and adaptive reuse project as part of a broader downtown revitalization initiative. The first phase of this mixed-use endeavor, covering approximately half of the building, was successfully completed within budget and on schedule in just 18 months, ensuring compliance with funding source requirements.
For the affordable housing component, funding was secured from NYS HCR’s Housing Trust Fund Program, supplemented by a low-income housing tax credit from HCR. The project also prioritized MWBE and Section 3 workforce goals, surpassing set targets through diligent tracking and reporting.
To manage logistics effectively, a phased turnover approach was adopted for the initial phase, which encompassed both affordable and market-rate housing alongside commercial spaces. Meticulous coordination of move-in schedules with residents was carried out, particularly concerning loading dock and freight elevator usage, amidst challenges posed by the site's tight constraints and absence of a staging area.
Moreover, the project navigated complexities arising from concurrent developments in the vicinity, notably the City of Rochester Main Street Redevelopment, necessitating extensive coordination efforts. Close collaboration with entities such as the Landmark Society of Western NY, State Historic Preservation Office, and National Park Service was imperative to ensure compliance with preservation standards and guidelines.