Revised Downtown Rochester Project Includes Senior Units
Rochester, MN (KROC AM News) - The major downtown Rochester project proposed by Bloom International Realty has been modified to include a new component - senior assisted living units.
Bloom has proposed to develop the city-owned property along the Zumbro River across from the Government Center between 2nd and 4th streets SE.
The revised plans were presented to city officials this week, opening the door to talks to finalize a development agreement. City Administrator Steve Kvenvold says Bloom’s newest design calls for three separate buildings.
A building on the south side would include 124 senior assisted housing units. The building in the middle would include 105 condominiums and 39 apartments. A hotel that would be built along 2nd St. would include 173 rooms and 45 so-called service apartments.
It would also contain a physical therapy center and other amenities. The project still calls for retail and commercial space and a new parking garage.
The original design had an estimated cost of $180,000,000 - $200,000,000. Kvenvold says the changes will likely push the cost over $200-million. The developer has indicated the project would be built in phases.
The Rochester City Council approved a preliminary development agreement involving the project in June.
Kvenvold is hopeful a final agreement can be reached by the end of the year or early 2017.