 |
 |
Nothnagle Announces Plans to Locate New Company Headquarters in Downtown Rochester
(Rochester, New York) – The new Nothnagle headquarters will be relocated to the intersection of West Main and West Broad Streets. The company plans to begin renovations of the building in summer 2009 and incorporate as much green technology as possible.“Nothnagle Realtors is one of the most successful real estate companies in upstate New York,” Mayor Robert J. Duffy said. “To have such a high-profile company relocate its headquarters to the city’s historic Cascade District will provide a major economic boost for the area.”
The Nothnagle project would be an anchor development for the historic Cascade District neighborhood located at the western gateway of Rochester’s central business district. The historic building has been 100 percent vacant for a decade and a blighting influence for the surrounding area. The property will be a showcase for the City and attract additional investment to downtown’s west side. The 27,000 square foot, four-story building will be completely renovated into Class A office space.
“Nothnagle Realtors is excited to be a part of the revitalization that is occurring in downtown Rochester. With nearly 1,000 agents and employees, combined with the 150 local companies we do business with, we will drive traffic into the city. The Main Street location will become the hub of our company operations,” said Armand D’Alfonso, President and CEO of Nothnagle Realtors.
The project will preserve and create jobs and promote economic recovery. Nothnagle will relocate approximately 65 existing employees to the location in early 2010 and has estimated that up to an additional 35 jobs will be created. These new jobs are being created in an industry that has been negatively impacted by the current recession.
While others may be cutting back in today’s economy, Nothnagle continues to make significant investment in enhanced agent support systems. Many of the new jobs created will be directly related to growing agent support.
In 2008, Nothnagle added three branch locations and launched a franchise division. This year, Nothnagle has expanded its ancillary services to include the Nothnagle Insurance Agency and is currently working on additional offerings to continue to make the entire transaction more convenient for customers.
“The move will allow us to be centrally located and easy to access from all directions. As the company continues to grow, we are adding jobs at all levels of the organization. The downtown location will provide us with the ability to draw from a geographically diverse workforce,” said D’Alfonso.
The City of Rochester is proposing financial assistance for the project to offset renovation costs for the building and acquisition of the adjacent parking property. The total project cost is $3,948,405. The City proposes to utilize $485,159 in federal stimulus money. The City will provide an additional $1,114,841 in financial assistance for the project through existing programs. The remaining project costs will be funded through bank financing and owner equity.
Nothnagle credits the City for making the relocation to downtown possible.
Friday, May 29, 2009
Questions/Comments | Website Feedback | Terms of Use | Privacy Policy | Site Map
© 1995-2009 Nothnagle REALTORS® Rochester, New York