More than a dozen years after Genesee Hospital closed, the final phase of the transformation of the site is about to get started.
Buckingham Properties has asked City Council to rezone about 8 acres on the north side of the campus at Monroe Ave. and Alexander St. to make way for a planned development.
Genesee Hospital closed in 2001, sending shockwaves through the community. Buckingham acquired the site in 2006.
Buckingham has finished developing the south side of the campus. There is a bank, retail space, medical offices and offices for MVP and Earthlink. It is fully-leased.
The north campus, however, remains desolate. There is vacant land and a vacant, boarded-up former hospital tower. Buckingham plans to build 172 residential units, nearly 200,000 square feet of office space, retail space and a parking garage for up to 700 cars and retail space.
"The thought is to keep it open to Alexander, increase the retail strip along here, which is being developed real nicely, and bring some life back here," said Ken Glazer of Buckingham Properties.
The first stage will be putting up two residential buildings that will have a total of 140 units. This stage will cost $20 million to $25 million.
The renovation of the tower will be done based on demand.
"It will be primarily market rate one, two-bedroom, some studio. There might be some real nice high-end units on top of a nine-story building," said Glazer.
The entire buildout could take three to five years.
Real estate agent Mark Siwiec believes there's demand for this type of complex. It's in the highly-desirable Park Ave. neighborhood. There aren't many new units that come online in the historic area.
"It's a great neighborhood with a hole," said Siwiec. "Since the hospital came down, that neighborhood has really been looking for this portion of the project to be completed."
Copyright 2014 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.