RIT to open new center downtown

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Rochester Historic Ventures acquired this historic building in 2011 with a vision of allowing more people from the community to “enjoy this architectural gem, with a larger dream to bring more students downtown,” says Amy Tait, of Rochester Historic Ventures.

RIT is contributing to the resurgence of Rochester with a new Center for Urban Entrepreneurship in the heart of downtown.

The former Rochester Savings Bank will serve as the home of the new center and be converted into a multi-use venue for other RIT activities.

RIT received the building at 40 Franklin St. through a donation from Rochester Historic Ventures. The university estimates it will cost about $1.2 million in capital improvements to refurbish parts of the building. Another $2 million to $4 million will be needed to prepare the building for programmatic needs. RIT will be looking to secure funding from the federal government and other sources. The center will offer entrepreneurship as a career alternative. This includes training existing entrepreneurs and helping displaced workers and others to become entrepreneurs. It is expected to open next fall.