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Local development companies to rehab Andrews Terrace in Rochester

todayJanuary 10, 2024 2

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ROCHESTER, N.Y. (WROC) — Conifer Realty, LLC and Community Preservation Partners announced on Tuesday that they plan on rehabbing and preserving Andrews Terrace in the City of Rochester.

Conifer Realty and Community Preservation Partners have worked together to plan on preserving the 526 housing apartments in this building complex. The real estate company specializes in the development, construction, management, and ownership of high-quality affordable housing while CPP is an affordable housing preservation developer.

This will be the second project these companies have worked on together after Keeler Park which they purchased in 2022. They plan on renovating the waterfront property for senior and disabled Rochester residents and their families.

To help get this project going, the developers are working with KeyBank Community Development Lending and Investment and the Urban Investment Group within Goldman Sachs Asset Management.

“We are excited to partner with Conifer Realty and Community Preservation Partners to revitalize Andrews Terrace, which provides a critical supply of affordable housing to Downtown Rochester. Our investment will help existing and new residents access safe, affordable housing and critical on-site services. We look forward to the lasting impact on the community of this next chapter in Andrews Terrace’s nearly 50-year history,” said Scott Maxfield, a Managing Director in the Urban Investment Group within Goldman Sachs Asset Management.

The 1975 residential buildings of Andrews Terrace consist of two 19-22 story buildings with elevator access and 526 studio and two bedroom apartments. Both buildings are connected on the first floor and have elevated outdoor walkways. All apartments will have kitchen upgrades and refurbished bathrooms as well as several new outdoor additions including a community garden on the property’s terrace, grandparents’ playground, a seating and grilling area, and bocce ball courts.

The companies hope to complement Rochester’s ROC the Riverway Program with the preservation of this 557,602-square-foot development.

​ ROCHESTER, N.Y. (WROC) — Conifer Realty, LLC and Community Preservation Partners announced on Tuesday that they plan on rehabbing and preserving Andrews Terrace in the City of Rochester.

Conifer Realty and Community Preservation Partners have worked together to plan on preserving the 526 housing apartments in this building complex. The real estate company specializes in the development, construction, management, and ownership of high-quality affordable housing while CPP is an affordable housing preservation developer.

This will be the second project these companies have worked on together after Keeler Park which they purchased in 2022. They plan on renovating the waterfront property for senior and disabled Rochester residents and their families.

To help get this project going, the developers are working with KeyBank Community Development Lending and Investment and the Urban Investment Group within Goldman Sachs Asset Management.

“We are excited to partner with Conifer Realty and Community Preservation Partners to revitalize Andrews Terrace, which provides a critical supply of affordable housing to Downtown Rochester. Our investment will help existing and new residents access safe, affordable housing and critical on-site services. We look forward to the lasting impact on the community of this next chapter in Andrews Terrace’s nearly 50-year history,” said Scott Maxfield, a Managing Director in the Urban Investment Group within Goldman Sachs Asset Management.

The 1975 residential buildings of Andrews Terrace consist of two 19-22 story buildings with elevator access and 526 studio and two bedroom apartments. Both buildings are connected on the first floor and have elevated outdoor walkways. All apartments will have kitchen upgrades and refurbished bathrooms as well as several new outdoor additions including a community garden on the property’s terrace, grandparents’ playground, a seating and grilling area, and bocce ball courts.

The companies hope to complement Rochester’s ROC the Riverway Program with the preservation of this 557,602-square-foot development. Read More DevelopmentRochesterFirst  

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