Entrepreneurship center awarded $1.5 million

The federal government is investing $1.5 million toward construction and renovation costs for the facility that will house the Center for Urban Entrepreneurship. The award from the U.S. Economic Development Administration will help refurbish an iconic Rochester landmark, the former Rochester Savings Bank building at 40 Franklin St., which was donated to RIT in 2012.

University leaders announced in October 2012 that they had received the former bank as a gift from Rochester Historic Ventures, and that it would serve as the home of the new center. Renovations to the historic four-story, 47,000-square-foot building are expected to be completed in 2014.