The Hotel Cadillac is moving toward a new life as an affordable housing project, as the city of Rochester moves to loan its developer the final needed pieces of funding.
This month, the Rochester City Council will vote to offer $1.1 million in loans to the project’s developer, Robert Cain of Cain Properties LLC. Of that, $920,000 will be sourced from a housing fund created from federal COVID relief dollars, and $180,000 will be sourced from the budget of the City Council and is part of $1 million earmarked by the Council for affordable housing projects in this year’s budget cycle.
“It’s an integral piece to the history of the city of Rochester,” Cain said of the building. “It comes back to when people are visiting downtown and leaving a lasting impression. We want people to see energy, revitalization, and not dilapidated buildings. It’s a small piece of the downtown puzzle, of adding to the energy and overall vibrancy of the downtown community network.”…