University of Rochester Acquires College Town
The University of Rochester has purchased College Town, a development adjacent to its campus, and has created a new company called Meliora Development Company LLC to manage and rebuild the neighborhood. Since its opening in 2015, many businesses in College Town have closed, prompting the university to take action. The purchase aims to foster a greater sense of community and connectedness for students, employees, patients, visitors, and neighbors, aligning with the university's new strategic plan and upcoming campus master plan update.