Investment Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced the official grand opening for the 21-acre, mixed-use development project known as Pinnacle North in Ontario County. The undertaking has transformed the North Shore of Canandaigua Lake into a hub of economic revitalization, establishing the area as a premier destination for living, recreation and tourism. The overall plan includes 450 one- and two- bedroom lakefront residences; as well as restaurants, retail space and designed outdoor environments for public use and enjoyment.  The total project cost is $120 million. Empire State Development President, CEO & Commissioner Howard Zemsky said, “This is a truly transformative project, along beautiful Canandaigua Lake, that will draw residents and businesses to the area as the Finger Lakes region continues to move forward.” The Pinnacle North community was built in an extraordinary location and offers access to shopping, dining and recreation. In addition to the residences, Pinnacle North includes several commercial occupants. Some, like Icon Salon & Spa, are in the process of build-out. Abbott’s Frozen Custard and Young Lion Brewing Company are already both open for business. Bill Goodrich CEO & Managing Partner for LeChase Construction Services said, “We are very excited to have been able to partner with state and local officials to make  Pinnacle North a reality. The Northshore of Canandaigua Lake is now home to the long-term vision of the region–a living community that everyone can enjoy." Bob Morgan, Managing Member & CEO of Morgan Management said, "The interest we have seen in this development on both the commercial and residential side has been very promising. With tenants like Young Lion, Abbott’s Frozen Custard and Icon Salon & Spa, the entire community will be able to enjoy the north-end of Canandaigua Lake. I look forward to the continued expansion of both residential and commercial tenants to develop the area further." The project was able to move ahead, thanks in large part to environmental cleanup efforts by the developer that were completed in January as part of the state’s Brownfield Cleanup Program. The cleanup consisted of the excavation and disposal of contaminated soil and the installation of utility trench plugs to prevent any further issues. Empire State Development is providing up to $2 million through a capital development grant that will support the next phase of the project which will include additional one-and two-bedroom units, a community building with pool as well as additional commercial space. Construction on this portion of the project is expected to begin this fall and should take approximately 24-26 months to complete. The total project cost for this phase totals $38 million and overall state investment in the project totals $6 million. FLREDC Co-Chair and Wegmans Food Markets Chairman Danny Wegman and Monroe Community College President Anne Kress said, “This forward-thinking  project along the Canandaigua Lake Shore is already having an economic impact on both Canandaigua and the Finger Lakes region as a whole. This project goes a long way in furthering the reputation of the region as an exceptional place to live, work and play as we continue our work moving the Finger Lakes Forward.”. State Senator Pamela Helming said, "The Pinnacle North development project is evidence of the growing focus and investment that we are seeing throughout the Finger Lakes region. The combination of residential and commercial space offers residents and visitors alike an exclusive destination for dining, living, and shopping. More and more, private-public partnerships are helping to grow our local and regional economy, and serve as a catalyst to attract new businesses and visitors to places like Canandaigua.” State Assembly Minority Leader Brian Kolb said, “This incredible project will make our community a more attractive tourist destination, provide a diverse array of commercial and residential options for natives and add to the natural beauty of Ontario County. The economic activity and revenue generated from this mixed-use development will be a tremendous asset to the Finger Lakes region. I want to thank all of those involved in the planning and execution of Pinnacle North. I am excited for the project’s completion and look forward to taking advantage of all the great options it will offer.”   Canandaigua Mayor Ellen Polimeni said, “Pinnacle North is a wonderful example of what can result when those involved in state and local government partner with developers to address areas facing environmental issues and challenges.  This new residential area brings a vibrancy to the lakefront as it melds residential and retail use.  Residents and visitors have an opportunity to enjoy our beautiful resource, Canandaigua Lake, as they stroll the park, visit restaurants or shop in commercial areas.” For more about Pinnacle North click here. About Morgan Management, LLC (www.morganmanagement.com) Morgan Management, LLC has owned and operated a residential and commercial real estate portfolio since 1976. Morgan started in the Manufactured Home Communities market and now the real estate portfolio includes residential apartment communities, self-storage facilities, commercial office buildings and shopping plazas. With strong real estate principals and extensive experience in the ownership and management of high quality residential communities, today Morgan Management owns and manages more than 24,000 apartments along the East Coast and throughout the Midwest.  About LeChase Construction Services, LLC (www.lechase.com) LeChase Construction, established in 1944, is a full-service construction management and general construction firm with extensive experience in a broad range of industry sectors. Widely recognized for its commitment to quality, innovation and safety, LeChase prides itself on ensuring its core values resonate from its corporate offices to each of its jobsites. LeChase has strategic alliances, mobile job teams and operational support, enabling the company to provide local delivery and meet the unique needs of its clients no matter where they are located. Accelerating Finger Lakes Forward  Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $3.4 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here.   Contact: Shari Voorhees-Vincent | Shari.Voorhees-Vincent@esd.ny.gov | (585) 399-7055 Press Office | pressoffice@esd.ny.gov | (800) 260-7313