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Wayne Post
  • Canandaigua lakefront developer named

  • There’s a new player on the Canandaigua lakefront. Morgan-LeChase Development, of Rochester, will own, manage and develop a 21-acre parcel on the north side of Lakeshore Drive, said Jennifer Miglioratti, a spokesperson for the company. The $100-million development will be a m...
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  • There’s a new player on the Canandaigua lakefront.
    Morgan-LeChase Development, of Rochester, will own, manage and develop a 21-acre parcel on the north side of Lakeshore Drive, said Jennifer Miglioratti, a spokesperson for the company.
    The $100-million development will be a mix of commercial and residential, and details of the project will be given during a June 20 city of Canandaigua Planned Unit Development (PUD) meeting. It is anticipated that construction could begin as early as the second quarter of 2014, Miglioratti said.
    She declined to comment on the specific finances of the transaction.
    In a statement, Morgan-LeChase said: “The developer will be purchasing the property for a fixed negotiated price. The property owner (David Genecco) has agreed to take a significant loss to make this property available to the developer at a price that supports the viability of the project.”
    “I’ve done my part, and I’ve been proud to do my part,” Genecco said. He added that he’s looking forward to seeing the property restored as a “place of pride” in the community.
    Genecco also declined to comment on any specifics of the transaction.
    The land — previously owned by Genecco — has been a spot that residents have been eager to see developed. The Canandaigua Area Development Corporation (CADC) got involved in September 2011. Mayor Ellen Polimeni — a CADC member — said in March that the group would step down when a developer was selected.
    The CADC conducted a developer outreach effort to 23 companies across the northeastern United States, New York State, and Canada, Miglioratti said. Out of that group, eight responded, and the CADC selected Morgan-LeChase.
    Morgan Management and LeChase Construction formed together recently as Morgan-LeChase Development. The lakefront project will be the first venture for the company. Bill Goodrich and Bob Morgan are co-owners of Morgan-LeChase Development.
    LeChase Construction Services previously worked on Constellation Brands-Marvin Sands Performing Arts Center (CMAC) and F.F. Thompson Hospital in Canandaigua. Morgan Management has worked on projects in Rochester, and developed properties in Manlius, Onondaga County,
    Nolan’s on Canandaigua Lake — at 130 Lakeshore Drive — has a lease with Genecco though April 2014. The restaurant will remain open at it current location until then, according to a release from Morgan-LeChase.
     
     

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