Andrea Deckert, Staff Writer
Rochester Business Journal (RBJ)
“Ground was broken Wednesday on Cobblestone Place, a $12 million senior housing development in Webster. It is expected to be completed late next year.
Cobblestone Place, being developed by Conifer Realty LLC, is a 60-unit apartment community for individuals age 62 and older. Of the units, 30 will be set aside for frail elderly residents and an additional nine units will be designed for those with special needs, including those with hearing and visual impairment.
The project is designed to meet the town of Webster’s goal of promoting mixed-use and mixed-income developments, officials said. The town plan includes the development of the supportive housing at Cobblestone Place, along with some 41,400 square feet of commercial space and 70 recently completed market rate apartment units.
The development will have 45 parking spaces, a community room for residents and has been designed in accordance with green building guidelines, officials said.
It is located in the center of the town. A sidewalk will be constructed to connect the project site to the existing sidewalk network and nearby shopping centers, developers said.
Volunteers of America of Upstate New York Inc. and ElderOne will provide supportive services in the new complex.
“Cobblestone Place is a wonderful example of the power of collaborative public/private partnerships,” said Conifer president and CEO Timothy Fournier in a statement.
New York State Homes and Community Renewal provided $5.8 million in bonds to finance the construction. Other sources of funds are the state Medicaid Redesign Team loan of $6 million, $120,000 from Monroe County Home Fund; $120,000 from New York State Energy Development and Research Authority; $300,000 from the Federal Home Loan Bank Loan; and tax credit proceeds in the expected amount of $2.92 million.”
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