Downtown university housing project back in mix
Here's some from my piece on the revived university housing/ mixed use complex slated to be built in the 300 block of First Avenue Southwest. The full piece is at http://www.postbulletin.com/newsmanager/templates/localnews_story.asp?z=2&a=425653:
A proposed university housing project slated for downtown Rochester is back in gear after it was first proposed about two years ago.
Monday night, the Rochester City Council amended the development and purchase agreements it had previously made with the local developer.
The development agreement was first approved by the council back in July 2007. “We’ve been making pretty significant progress lately,” said Rochester developer and architect Hal Henderson, of the delay caused by the economic downturn.
GH Holdings, led by Henderson and Grant Michalitz, is developing the mixed-used building with nine floors as well as an underground level in the 300 block of First Avenue Southwest.
The University of Minnesota Rochester has committed to leasing space in the GH Holdings building for classrooms, student life areas and reserving a number of the apartments. Final details in the lease need to be completed with UMR, such as how many apartments it needs, before GH can get its financing started, Henderson said.
Portions of the project have changed since the original plans for the building were drawn up in March 2007 and the city approved a tax-increment financing district.


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