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The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

New Info: Charlotte Port Project

Rochester, N.Y. -- Mayor Lovely Warren talked about what is next for the Charlotte Port Project Wednesday afternoon.

The developer chosen by the City of Rochester earlier this month proposes a hotel of at least ten stories and housing units.

Developer Edgewood has designed high-end waterfront communities around the country and says in its proposal that Rochester's quaint riverside community can draw empty nesters and young professionals who will pay $200 thousand dollars for an 800 sq ft condo. Penthouse units will sell from $900 thousand to $1.2 million dollars.

Wednesday 13WHAM has learned from the City of Rochester that while the developer was chosen, no agreement has been signed. According to the city, the next phase of the project is an eight month exclusive negotiating period on the final project design, size, scale and look.

The city also has a response to those who ask, "Why do we need such a big project?" The city said the project will take a "phased-in" approach. It will not all be built at once.

Mayor Warren's office also said it believes there are lots of people with adequate means who want to live near the water and remain close to the city. Her office also said it is a private development project and that as a private business, the developer is taking 100 percent of the risk.

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Washington Times