The Rochester Institute of Technology has been awarded $1.5 million needed to redevelop the former Rochester Savings Bank building downtown, officials announced Wednesday.
The funding comes from the Economic Development Administration, Sen. Charles Schumer, D-N.Y. said.
The school plans to redevelop the Franklin Street building into the Urban Entrepreneurship Center for new workers, startup businesses and entrepreneurs.
Some 47,000 square feet on three stories will be renovated and infrastructure will be upgraded, officials said.
The $4 million project will take 15 months to complete, officials said.
RIT will provide technical expertise and training at the center.
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