2020 Development that Best Preserves Metropolitan Community Impact
The Eastman Reserve
Developer: PathStone Corporation
Owner: Eastman Reserve, LLC
Location: Rochester, NY
The Eastman Reserve is a mixed-income, mixed-use complex in Rochester, N.Y., that includes 187 affordable apartments. The development is adjacent to the industrial Eastman Business Park, and is part of a larger plan to revitalize and transform the surrounding community into a safe, sustainable residential area that connects itself to existing amenities including employment opportunities, trails and parks.
The development will serve a wide range of individuals and families including those with special needs and market rate apartments for individuals, and it has 15 percent of the apartments as set asides. In order to make transformative community impact in a qualified census tract, PathStone, the developer utilized a variety of sources to pay for soft costs and construction costs.
“What was seen as a pioneering effort prior to breaking ground now is recognized as a transformative property that is in incredibly high demand,” said Robert Cain, senior real estate developer for PathStone Corporation. “The varying housing product types, rent tiers, and amenities are attracting a wide range of residents and causing positive housing externalities in the area. It’s been a tremendous boon to the community.”