Construction Loans in Rochester, NY
Find lenders offering construction loans in the Rochester, including Irondequoit, Greece, Brighton, and surrounding areas. Compare rates, terms, and programs from 14 lenders.
Construction Lenders Serving Rochester
14 lenders offering construction loans in the Rochester, NY area.
JPMorgan Chase
LocalNew York, NY
Major CMBS originator and commercial lender. Full range of CRE financing including conduit, agency, and balance sheet.
ConnectOne Bank
SBAENGLEWOOD CLIFFS, NJ
New Jersey-based commercial bank offering SBA 7(a) loans, commercial real estate, construction lending, and business banking. Serves entrepreneurs and businesses in the New York-New Jersey metro area.
Bank of America
Charlotte, NC
One of the largest US banks. Commercial real estate lending, construction financing, and SBA loans through nationwide branch network.
Broadmark Realty Capital
Seattle, WA
Private real estate lender offering bridge, construction, and land loans. Now part of Ready Capital. Loans from $500K to $25M+.
CoreVest Finance
Irvine, CA
Rental portfolio and bridge lender for residential real estate investors. Build-to-rent and portfolio financing specialist. Redwood Trust subsidiary.
KeyBank Real Estate Capital
Cleveland, OH
Major bank CRE lender. Balance sheet, agency, and CMBS lending for multifamily, office, retail, and industrial properties.
Lima One Capital
Greenville, SC
Private lender for real estate investors. DSCR loans require 1.5+ ratio, min FICO 700. 5, 10, and 30-year options. Up to 75% LTV on purchases.
Merchants Capital
Indianapolis, IN
Bank-backed commercial lender active in 47 states. Over $6.8B in financing. Specializes in multifamily, affordable housing, and healthcare.
New Silver Lending
FL
Direct lender for real estate investors. DSCR loans with no minimum DSCR requirement. Also offers fix-and-flip, bridge, and construction loans.
PNC Real Estate
Pittsburgh, PA
Top-10 US bank with dedicated commercial real estate lending. Construction, bridge, and permanent financing for major property types.
Stbridge Capital
Los Angeles, CA
Private money lender in California. Bridge, fix-and-flip, and ground-up construction loans. Fast closings for experienced investors.
US Bank
Minneapolis, MN
Fifth-largest US bank. CRE lending including construction, permanent, and SBA loans. Strong in multifamily and affordable housing.
Vaster
Miami, FL
Commercial bridge loan lender for CRE investors. Flexible short-term financing for acquisition, rehab, and construction.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
Rochester Commercial Real Estate Market
Rochester's CRE market reflects its transition from a legacy optics and imaging economy built by Kodak and Xerox to a diversified base anchored by healthcare, higher education, and advanced manufacturing. The University of Rochester and Rochester Institute of Technology collectively employ over 30,000 people and generate demand for office, R&D, and student housing properties in the university corridors. The downtown core along Main Street and East Avenue has attracted adaptive reuse projects, converting former industrial and office buildings into mixed-use developments, though office vacancy remains elevated in older Class B stock. The High Falls and Neighborhood of the Arts districts have emerged as creative economy nodes, while the suburban corridors in Henrietta and Victor along I-90 capture retail and flex-space demand.
Key Economic Drivers
- ●University of Rochester Medical Center, the region's largest employer, driving sustained medical office and research facility demand
- ●Rochester Institute of Technology's National Technical Institute and imaging science programs feeding a specialized tech workforce
- ●L3Harris Technologies and other optics and photonics companies maintaining Rochester's advanced manufacturing base
- ●Wegmans Food Markets headquarters in Gates supporting retail and distribution operations
Market Insight
Rochester's Finger Lakes Forward economic development initiative has directed state funding toward the photonics and optics cluster, with the American Institute for Manufacturing Integrated Photonics (AIM Photonics) headquartered at the Eastman Business Park, creating specialized industrial and lab space demand.
Construction Loans in Rochester, New York
Commercial construction loans fund new development or major rehabilitation projects. Funds are disbursed in stages as construction progresses. Most are short-term (12-36 months) and convert to permanent financing upon completion. In the Rochester metro area, borrowers can access 14 lenders offering Construction financing, including Irondequoit, Greece, Brighton, and surrounding areas. Loan amounts typically range from $500K to $100M with rates from 7% - 10%.
Who Should Consider Construction Loans?
- Ground-up development
- Major renovations
- Land + construction
- Build-to-suit projects
Key Requirements
- Detailed construction plans and budget
- Licensed general contractor
- Building permits
- Development experience (strongly preferred)
- 20-35% equity
Advantages
- ✓Interest only on drawn funds
- ✓Funds disbursed as needed
- ✓Can include land acquisition
- ✓Construction-to-permanent options available
Considerations
- •Requires detailed plans and budgets
- •Draw schedule inspections
- •Higher rates during construction
- •Completion risk on borrower
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