With tax relief program in place, downtown developer expects April groundbreaking

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ROCHESTER - A co-owner of the Massachusetts development firm set to construct an $11.7 million commercial/residential building on the site of the former Hoffman Furniture and Slim's restaurant site said on Monday he is grateful City Councilors last week approved the city's tax relief program for his project and expects to have shovels in the ground next spring.
"I am very pleased they were able to put together the 79e program," said Greg Grant of GP Properties of Charlestown, Mass., which paid more than a half million dollars for both buildings.
During a recent presentation before the City Council Grant said he planned one commercial space - a restaurant - on the bottom floor of the former space comprising 45 and 55 North Main Street and 45 apartments on the four upper floors, including 6 two-bedroom, two-bath and nine one-bedroom, one-bath units.
He also said the building would include 15 parking spaces in the rear and that the average rent including both one- and two-bedroom units would be around $1,800 a month.
The 79E tax relief program allows developers to avoid paying more than the current assessed value for a specified amount of years; GP Properties will enjoy the benefit for seven years.
Lilac City Development LLC recently bought the former Hoffman Furniture building from the city of Rochester for $230,000 and the former Slim's restaurant for $337,533,
The two buildings are currently appraised at $176,600 and $173,000, respectively.
A small patch of vacant land at 8 Barker Court is also part of the deal.
Grant said with the city's approval of the tax relief program GP Properties is now in the process of pricing out the costs of construction, which will likely begin next April.

Grant also recently said that after hearing a lot of negative feedback on tentatively calling it the Hoffman Building, they are now contemplating a different name.

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