Date: 2009-03-09
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Governor David A. Paterson today announced that New York State would make funds available for asbestos abatement at Midtown Plaza in Rochester, and added that the State will seek contractor bids for work to be financed by the State’s $55 million commitment. The Governor made the announcement during his visit to Midtown Plaza.
(Media-Newswire.com) - Governor David A. Paterson today announced that New York State would make funds available for asbestos abatement at Midtown Plaza in Rochester, and added that the State will seek contractor bids for work to be financed by the State’s $55 million commitment. The Governor made the announcement during his visit to Midtown Plaza.
“Ridding Midtown Plaza of asbestos is an essential step toward realizing the potential of Midtown Rising, a project that will help transform downtown Rochester,” said Governor Paterson. “The commencement of the asbestos removal clears a major hurdle standing in the way of the City’s renewal. This area will be transformed into an urban mixed-use development and include the national headquarters for PAETEC Communications. I am committed to working with my partners in government and the private sector to see this project through and to see Rochester revitalized.”
With the release of the funds, Empire State Development (ESD), the State’s chief economic development agency, will oversee contracts for one of the largest abatement jobs in the history of the region. Asbestos removal costs associated with the site have been the single most significant barrier to private investment and redevelopment of the city’s downtown core.
Upstate ESD President Dennis M. Mullen said: “Today marks a significant milestone for the Midtown Rising development effort. It is uplifting to note that Governor Paterson recognizes that investing in transformational development efforts, such as this one, are vital to our region’s security. Empire State Development is proud to be a part of this pivotal development effort that will revitalize our downtown core.”
The Midtown Plaza complex contains approximately 1.5 million square feet of building area, including four main buildings, a two-level retail shopping mall (organized around the public atrium space), a 1,820-space underground parking garage, and a series of “Skyway” pedestrian bridges connecting the complex to adjoining buildings. Midtown Plaza sits at the very center of downtown Rochester.
Governor Paterson has been working closely with the City of Rochester on the Midtown project with the goal of revitalizing downtown. The site’s deterioration over a number of years has affected all of the property in downtown. Without the State funding, the City will be left with 1.5 million square feet of abandoned retail and office space that cannot be redeveloped because of the asbestos contamination and other problems. In moving forward with such a large public investment, the City and the State hope to recoup those investments through job creation and the stabilization and increase in both the value of the site and the surrounding properties. The asbestos project will take approximately 10-12 months, and at its peak will create up to 200 jobs at working double shifts on the site for six months. Without the State’s commitment, the blighted conditions of the site would continue to deter private investment.
Once the site is cleared, the State and City have committed to deliver a portion of the site to one of the region’s fast growing companies, PAETEC Communications Inc., for the development of its new national headquarters building by 2012.
State Senator Joseph E. Robach said: “I applaud the collaborative efforts working with the Governor to revitalize the center of our city and our community. This funding will help to bring jobs and stimulate our economy, accommodating PAETEC and other businesses in the heart of our community.”
Assemblyman Joseph D. Morelle said: “Today’s announcement affirms the governor's on-going commitment to the revitalization of downtown Rochester and our region’s economy. Even in the midst of the worst fiscal conditions in three generations, it is important to maintain our investments where the dividends will be paid in terms of job creation and more vibrant communities. Upstate's economic revival has been my focus since joining the Legislature, and I am grateful for the Governor’s determination in moving forward at the Midtown tower site.”
Empire State Development is New York’s chief economic development agency, encompassing business and community development. ESD also oversees the marketing of “I LOVE NY,” the State’s iconic tourism brand. For more information, visit www.nylovesbiz.com.