The owner of Rochester's Riverside Hotel tells Spectrum News the hotel will close early next year.

Developer Dave Christa said future development was already in mind when the property was purchased in 2017. He says those plans are still being worked out.  

Last year, the city announced the site would become an entertainment, hotel and retail complex with a performing arts center. Billionaire Tom Golisano, who pledged $25 million to the project, later pulled out.

"We are aware of the Rochester Riverside Hotel’s decision regarding operations in 2020. Mayor Warren is working with business leaders and government partners to revitalize this important location at the intersection of our Main Street and the Genesee River. We are hopeful that together we can make the future of this site greater than its past," a city spokesperson said in a statement.

Downtown Rochester stakeholders are keeping a close watch on future plans for the hotel. 

The Joseph A. Floreano Rochester Riverside Convention Center is connected to the hotel by a skywalk. Many conventions held at the center use the hotel to book guests.

“I think the real challenges going forward are what the plans will be,” said Jim Brown, executive director of the convention center.  “And some type of idea of when they will be."

Brown said in his view, hotel rooms and meeting space would benefit the convention center the most.  The convention business is generally booked two to three years into the future, making what comes next for that property across the street that much more critical, he said.

“I think that space, that parcel next door is critical to the future development of Rochester,” Brown said.