Forget the apartments idea. It’s back to condos, hotel rooms and conference center for the Canandaigua Finger Lakes Resort project. Developers David Genecco and Robert Murphy reiterated their difficulties in obtaining financing for the remainder of the $54 million lakefront project. They are seeking the city’s help in securing grant money or construction loans they said would help secure funding to jump-start the stalled project.
Genecco and Murphy appeared Tuesday night before City Council’s finance committee. Their appearance was not mentioned on an agenda available prior to the meeting. “We’re all here to build a hotel and bring it to fruition,” Genecco said Tuesday night.
One of the hitches in gaining financing is the $4 million the developers said they put in for city-owned property, such as parking areas and eminent domain costs. If roughly that amount of money can be obtained, the per-room cost of developing the hotel would be lowered to an acceptable financing level, according to their proposal.