Construction Projects Underway in Irondequoit, Except One
To view our videos, you need to
install Adobe Flash 9 or above. Install now.
Then come back here and refresh the page.
The Irondequoit Town Supervisor said she's as frustrated as anyone by the lack of visible progress at the former Medley Centre, but she also said there is no comparing what's proposed for this site to other developments in town.
"It is an extremely large and complex project,” said Mary Joyce D’Aurizio.
D’Aurizio said most of the large developments underway in Irondequoit are estimated to cost between $3 and $15 million.
The mixed use, hotel, office, residential and retail plan developer Scott Congel wants to build has a price tag of around $750 million.
D'Aurizio said Congel has had difficulty securing financing, but said he is continuing to explore a number of options.
Congel did not return YNN's requests for comment, but D'Aurizio said he does keep her informed on the project. She said his Payments In Lieu Taxes to the town are up to date.
D'Aurizio is hopeful Irondequoit will soon see progress similar to Syracuse's Carousel Center expansion, Destiny USA. Congel's father owns the development company in charge of that project and it too was stalled when the global markets started to crash in 2009.
"There are not a lot of developers out there who could undertake this project, and if we don’t see this to fruition, I just don’t want to think about what could happen. Like I said, I want to retain Sears and Macy’s,” D’Aurizio said.
We still have all of the other buildings that were a part of the original Irondequoit Mall property and we have to be very positive about development in Irondequoit. Wall Street watches us. Even in terms of our own Moody’s rating for the town at what we receive our bonds is watched in terms of our development, it’s a significant portion and that’s why it’s important to be patient with this."
Congel has filed paperwork with the County of Monroe Industrial Development Agency that apparently shows he’s met a $90 million investment benchmark needed to keep school and town tax breaks in place.
COMIDA’s executive director said the documentation is being audited by the Bonadio Group.