A look back at 2024 and the promises it held for Rochester’s future

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Before we flip the calendar to 2025, we first look back on 2024 and what was very much a year of promise in Greater Rochester.

Many of the most popular stories for readers of the Rochester Business Journal dealt with what the future holds.

The promise of renewed vibrancy downtown through the move of Constellation Brands into a sparkling new corporate headquarters in the renovated Aqueduct Building.

The promise of continuing support for an array of nonprofits through the astonishing philanthropy of billionaire Tom Golisano.

The promise of new recreational activities through plans for Topgolf to open in CityGate on the border of Rochester and the town of Henrietta.

The promise of a rebirth of the East End District with the purchase of three neglected historic properties at East Avenue and Alexander Street by Blake and Max Gianniny.

The promise of a continued mini revival of Eastman Kodak Co.

But amid the enthusiasm, there also was disenchantment from the demise of a hospitality empire. The legal turmoil and the fall from grace of restauranteur Katherine Mott dominated headlines — and site visits to RBJ.net — throughout the year.

A $19 million check-kiting scheme orchestrated by Mott, alleged by Five Star Bank in a court filing in March, led to her conviction on federal charges for financial institution fraud and money laundering.

RELATED: Rochester community leaders reflect on 2024 successes

Guilty as charged

Mott entered a guilty plea in federal court on Dec. 3, nine months after Five Star Bank first filed in state Supreme Court details of the check-kiting activities across several financial institutions.

The activities involved accounts affiliated with some or all of her restaurant and event venues, include Monroe’s, Rare 3001, The Wintergarden by Monroe’s and Divinity Estate & Chapel.

In September, she attempted to implicate a former Five Star Bank employee, alleging in a court filing that the employee and other bank officials were complicit. The bank’s response: her allegations “amount to nothing more than additional evidence and admissions of Mott’s extensive and knowing fraudulent misconduct.”

Her guilty plea also included the forfeiture of the Crescent Beach Restaurant property in the town of Greece, which she had been renovating for a 2024 rebirth. The lawsuit put the kibosh on all construction activity.

Cheers to downtown

Constellation Brands christened its new $50 million corporate headquarters, moving most operations from Canandaigua to the west bank of the Genesee River in the Aqueduct Building along Broad Street.

Around 300 employees are based out of the new facility.

“Downtown Rochester is becoming a hub for prosperous, talent-rich companies and this transformative project at the historic Aqueduct Building will add another leading business to the mix, unlocking economic opportunity along the waterfront for generations to come.”

COMIDA provides green(s) to Topgolf

A proposed $34.3 million project to build an expansive golf-themed entertainment facility at CityGate received the blessing of the County of Monroe Industrial Development Agency (COMIDA).

Topgolf was granted $4.3 million in tax incentives, which the national retailer said were necessary to make the project viable.

Some community members, including county legislator Rachel Barnhart, urged COMIDA to vote against the tax breaks while proponents said progress is a good thing.

“That’s not giving away tax money to a new company, that’s receiving new revenue from a new business establishment that would not invest in Monroe County without our support,” County Executive Adam Bello said in addressing the COMIDA board.

The East End will rise again

The Gianniny brothers invested $6.05 million to buy three properties on East Avenue — the Hiram Sibley Building, Valley Building and Fitch Building — that had been repossessed through bankruptcy by the lender.

Largely vacant, the properties hold the key to rejuvenation of the East End District, the Gianninys believe.

“This is the gateway to the city,” Blake Gianniny said. “There’s a lot of nostalgia for people that use to hang out here, and we want to give them a reason to come back.”

You can’t take it with you

Golisano, the founder of Paychex, Inc., announced in September that he was giving $360 million to 82 charities, community organizations and educational institutions.

“One of my favorite sayings is, ‘The only wealth you keep is that which you give away,’ and I’m so lucky to be able to live that out.’ ”

Golisano’s funding commitment came just one month after the United Way of Greater Rochester said it was slashing allotments to nonprofits due to a dramatic decrease in giving to the agency.

A Kodak moment, 2024 style

Once Rochester’s largest employer, Kodak’s every move impacted the local economy, positively for decades, and then negatively when downsizing seemingly became an annual event.

But the company is somewhat quietly on the rise.

“The comeback is well underway,” chairman and CEO Jim Continenza said in May.

He was right. Gross profit for the third quarter was $45 million, GAAP net income was $18 million and a new manufacturing facility will open in 2025 at Eastman Business Park.

A final goodbye to two stalwarts

The death of Nelson Leenhouts in August and George Hamlin IV in October brought sorrow to the business community.

Mr. Leenhouts, co-founder of Home Leasing, died at his home on Aug. 15. He was 88.

“Nelson Leenhouts is a Hall of Famer in both business and in life,” said Bob Duffy, president and CEO of the Greater Rochester Chamber of Commerce and a long-time friend. “He’s one of the kindest, most giving people I’ve ever met in my career.”

Mr. Hamlin, who guided Canandaigua National Bank for 45 years, died at home on Oct. 24 at age 83.

“He was a true renaissance man whose passion thrived in so many different areas,” his son, Frank Hamlin III, said. “But he had no greater passion than the one held for this company and the people under his charge. And that passion stemmed from a very basic philosophy that banking is a people business, not a money business. It will forever be a cornerstone of my father’s legacy, and we will be forever grateful.”

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