Charlotte Harbortown Homes, Rochester, NY

The Finch Group finished a 24-month rehabilitation of this property in September 2007.  The property is an existing 553 unit development completed in 1974.

Charlotte Harbortown Homes is located at two sites in the Harbortown section of the Charlotte area of the City of Rochester.

The overall complex contains 553 units, with a total of 157 studios and 297 one-bedroom units located in two high-rise buildings (both high-rise buildings are restricted to persons over the age of 55 and/or disabled), and 16 family townhouse buildings containing 35 one-bedroom, 36 two-bedroom, 22 three-bedroom, and 6 four-bedroom apartments.

This effort is the initial/pilot Project Retention Loan program whereby the Empire State Development Corporation (“ESDC”) made available to the Property a combination of: (a) certain of its own funds in the form of a Project Retention Loan secured by a mortgage, and (b) a portion of New York State’s IRC Section 103 tax-exempt housing bond cap carrying the so-called 4% housing tax credit.

ESDC is now using the expertise that The Finch Group brought to the table when structuring their first Project Retention Loan for Charlotte as a model for preserving other Section 236 affordable housing projects in New York State.

For More Information:

Charlotte Harbortown Homes web site