Billionaire Tom Golisano’s $25 million donation has tipped the balance in favor of a performing arts center development in downtown Rochester.
Mayor Lovely Warren announced this morning that Midtown Parcel 5 will become the Golisano Center for the Performing Arts and Tower. The $130 million development will be a block including a major theater, housing, retail and restaurants. It will be a joint venture between developer Robert Morgan’s Morgan Communities and the Rochester Broadway Theater League. Both Morgan and RBTL President Arnie Rothschild were with the mayor at this morning’s announcement.
Rothschild called it a “great opportunity” for Rochester, and credits both Morgan and Tom Golisano with making it happen. He says it will bring more entertainment, more young people and more jobs downtown. Rothschild says major Broadway productions will come to the 3,000 seat theater faster and stay in Rochester longer. He says it will be a venue like none other in the country.
RBTL believes the theater will draw more than 360,000 visitors a year, generating some $18.5 million in ticket sales alone.
Morgan says the addition of housing in addition to the theater makes it an ideal development for downtown Rochester.
Mayor Warren says the economic impact will include 776 construction and permanent jobs, plus a boost for downtown hotels and entertainment-related businesses. The project will have a “Rochester First” hiring policy.
With Tom Golisano’s $25 million in hand, the Theater League will mount a major fundraising campaign, while also seeking major contributions from New York State development funds.