Developers of the Sibley Building project in Downtown Rochester say they have closed on $71 million worth of financing that will kick off the re-development project there.
According to WinnDevelopment and GDD Properties, this portion of the project will involve 96 apartments, retail on Main Street, office space and a complete rehab of the entire facade and windows of the building.
Construction is already underway to convert the top floor of the building into the headquarters for High Tech Rochester's Finger Lakes Business Accelerator Cooperative, which will be an incubator for high-tech start-up companies.
The developers say that incubator is expected to generate more than 1,000 new jobs during its first five years of operation.
