Residences coming to Cascade District

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Graywood Cos. Inc. is moving forward with two projects downtown: the completion of loft style apartments and the start of construction on the last phase of its townhouse development.

Both are located on Plymouth Avenue, north of West Main Street in the city’s Cascade District.

The Rochester firm just unveiled the Lofts at North Plymouth Terrace, 10 apartments available for rent. The one-bedroom lofts are on the second and third floors of the building at the corner of Main and Plymouth that houses a U.S. post office.

The units range from 1,016 to 1,268 square feet, with rents starting at $1,450.

Features include exposed ductwork, air conditioning, high ceilings, stainless steel appliances and in-unit laundry. Some units have dens.

The company also has begun work on the final phase of its North Plymouth Terrace townhouse development next door. The project began in 2011 on the site of a 1.5-acre municipal parking lot.

Fourteen units are completed with 13 occupied. Six more townhomes are under construction, with work on the final four units expected to start by year-end, said Douglas Allen, construction manager for Graywood.

Those who have purchased the townhomes range from families with children to retired couples and students, he said.

The two-story homes, with prices starting at $270,000, include 1,800 to 1,936 square feet of living space and a patio with private fencing. The two- and three-bedroom homes also have a full basement, second floor laundry room and a two-car garage with covered passageway. 

Celeste Blair, Graywood’s director of marketing, said the location along the eastern edge of the Cascade District is centrally located, with residents near downtown activities such as the Hochstein School of Music and Frontier Field where the Rochester Red Wings play.

“It’s city living with the amenities of a custom-built home,” she said.

In March, the County of Monroe Industrial Development Agency approved tax incentives for both projects. Company leaders estimated the lofts project would cost roughly $935,000, while constructing the final 10 units at Plymouth Terrace would be a $2.3 million project.

The projects are expected to have state and regional benefits totaling some $835,000, COMIDA documents show.

Graywood also has started work on Fox Fields, a 107-unit housing division on Farrell Road Extension, off of East River Road in Henrietta.

The business is led by principal John Summers, a member of the 2010 class of the Rochester Business Hall of Fame. Summers grew his father’s business, Jasco Tools Inc., into a holding company for four firms, including the largest tool-and-die manufacturer in Rochester.

Graywood owns and manages a portfolio of properties exceeding 2 million square feet, including multibuilding office parks, medical office buildings, industrial/flex space and retail centers.

The company also develops residential properties including luxury estate homes, condominiums and townhouses. It has residential properties in New York, Georgia, Florida and North Carolina.

The firm has built roughly 350 homes in the Rochester area since 1998, Allen estimated.

Graywood’s developments include Bristol Harbour Village in Canandaigua, where there are waterfront condominiums, lake view and golf-side townhouses, patio homes, single family homes, as well as wooded and waterfront estate lots for custom home building.

Another development is the Turtle Creek subdivision in Hilton.

In addition, Graywood is the parent company of Jasco Heat Treating in Fairport. The business is a provider of commercial and industrial heat treating, abrasive blasting and metallurgical services.

10/14/2016 (c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email [email protected].