Grill of the city
Michael Sylvester
vice president
Bowman
The redevelopment of industrial spaces into mixed-use and multifamily projects is trending, Sylvester says. “These transformations breathe new life into underutilized or outdated properties and create communities that combine residential, commercial and recreational spaces,” he says.
“Brownfield redevelopment presents another important opportunity for the region,” he says. These projects require a strategic approach, often relying on local, state and federal incentives. Another key focus in Rochester’s development strategy is affordable senior housing.
Downtown revitalization projects should “continue to ramp up,” Sylvester says. “The area is being reimagined to bring people back into the community” with developments that combine mixed-use, residential and recreational.
Warehousing and retail work is moving more slowly due to “market saturation and changing economic conditions,” Sylvester says, “The Rochester market is moving from uncertainty to cautious optimism. [Its]The economic future is closely tied to the broader federal economic trajectory.”
