A list of coming attractions
There are many development projects in the pipeline in Rochester. Here are a few of them:
Mayo Clinic/Pontiac Land Group hotel
Mayo Clinic announced in September a “joint venture” with the Singapore development firm Pontiac Land Group to build a hotel plus clinic floors on top of Mayo’s Gonda Building in downtown Rochester.
There are not many details available yet. “Project planning continues to move forward,” wrote Pontiac Land Group’s Orphelia Huang in March in response to questions. But this is what we know so far:
• Proposed is a seven-floor hotel with unspecified number of rooms.
• The hotel will be built on top of four additional medical floors built by Mayo Clinic to serve as an expansion for the Cancer Center and Outpatient Procedure Center. It is estimated to cost $190 million.
• Early estimates are for construction to begin in late 2019 or early 2020 with the goal of having the hotel and medical floors ready for use by the end of 2022.
• The Pontiac Land Group is known for its luxury properties worth an estimated $5.5 billion. It’s led by the Kwee family, one of the wealthiest families in Singapore.
Civic on First
EKN Development Group of Newport Beach, Calif. is moving ahead with plans to build an eight-story hotel on the site of the former American Legion Post 92 at the intersection of First Avenue Northwest and Civic Center Drive.
• The hotel is planned to have 175 rooms.
• The estimated cost is $35 million.
• It is expected to carry the Hyatt House brand.
Work to demolish the American Legion building has begun. Construction is expected to take about 12 months, with the hope of opening in mid-2020.
EKN Development Group is doing an extreme makeover of Rochester’s former Holiday Inn hotel at 220 S. Broadway.
• The plan is to upgrade the interior and exterior of the “monolithic” building and re-make it into an upscale Hotel Indigo boutique property. Hotel Indigo is a InterContinental Hotels Group brand.
• The 173-room hotel closed in September to allow for construction to begin.
• The hotel portion of the 16-story building includes only floors 2 through 8. Floors 9 through 16 are residential condominiums with many individual owners. On the street level of the hotel are separately owned business condos occupied by the Rochester Area Chamber of Commerce and the Smith Schafer & Associates accounting firm.
• The goal is to complete the construction and re-open the hotel this summer.
St. Paul-based Real Estate Equities recently started construction of Technology Apartments complex at 3731 Technology Drive, next to Benchmark Electronics.
• The new mixed-income housing complex is slated to have 164 units.
• The first of two apartment buildings is expected to be complete in September and the second is slated to be ready in December.
• It’s estimated that the project will cost $19.7 million to build.
• The plan is to cater to households earning 60 percent to 80 percent of the area’s annual median income.
• Forty percent of the units will be priced affordably for individuals earning an annual income of $40,000, which is approximately 60 percent of the area’s annual median income. It puts rents at an estimated $1,150 a month for a two-bedroom apartment.
• Another 35 percent will be rented at prices targeting residents earning 80 percent of the city’s median income, or about $55,000 a year.