Press release:
The United Memorial Medical Center (UMMC) and Conifer Realty, LLC, joined by local officials and community leaders, hosted a ribbon-cutting ceremony this morning for a 56-unit apartment community in Batavia.
Big Tree Glen, located at 3727 W. Main St. Road, offers seven high-quality, two-story buildings featuring one-, two- and three-bedroom apartment homes for working families earning 60 percent or less of Genesee County’s area median income (“AMI”). Rents range from $569-$916 per month (with a 12-month lease). Apartments range in size from 725 square feet to 1,200 square feet.
James S. Rubin, commissioner of New York State Homes and Community Renewal, said, “Big Tree Glen offers families access to one of the highest-performing districts in Western New York, and is in close proximity to jobs, shopping and services. Affordable housing developments like Big Tree Glen provide greater options and opportunities for residents, and make New York a better place to live and work.”
Daniel P. Ireland, BSN, MBA, FACHE, president for UMMC, said, “Rochester Regional Health Memorial Medical Center supports Big Tree Glen affordable housing. Safe, reliable housing is a major component of healthier communities and this initiative aligns with our vision of leading the evolution of health care to enable every member of the communities we serve to enjoy a better, healthier life. We are excited to see this project develop and reach the completion of this phase.”
Tim Fournier, chairman and CEO of Conifer Realty stated, “Conifer could not accomplish what it has in the affordable housing industry in New York State for the past 40 years without the unwavering support of our state and nonprofit partners, like Rochester Regional’s United Memorial Medical Center.” He added, “Big Tree Glen is evidence that the public-private partnerships and collaborative team efforts yield vital, brand new, affordable homes for so many in Batavia.”
Conifer Realty, LLC, was the developer, the total development costs are in excess of $12 million. Permanent financing sources for the apartment community include a $1,220,000 loan from Community Preservation Corporation; $3,200,000 loan from Bank of America; $382,135 loan from New York State Housing Trust Fund; $7,289,751 Federal Tax Credit Equity from Red Stone Equity Partners; and Bank of America provided a $6,300,000 construction loan.
Conifer is a nationally ranked, full-service real estate company specializing in the development, construction, management and ownership of high-quality, affordable housing communities.
