A plan to purchase and renovate a student housing complex from the Rochester Institute of Technology has been granted a tax reduction by Imagine Monroe, the County’s industrial development agency. 4000 River Road LLC also plans to add a new 80 unit building accommodating up to 260 more students.
The project drew attention because the property was originally purchased by a subsidiary of Morgan Management, which is under investigation by federal authorities for mortgage fraud.
The listed owners of the project are now developers David Christa and Tom George. George said that Morgan is no longer part of the project.