RIT is coming back to downtown Rochester. The university is launching a new Center for Urban Entrepreneurship near the Liberty Pole.
RIT plans to transform the historic Rochester Savings Bank into a hub for future success.
"I can guarantee you that sometime next fall we're going to have an active downtown center here," RIT President Bill Destler said. "We're going to do really important things for the region,"
The building was a gift, but the university will still spend up to $5 million, in mostly grant money, to create the center.
The center will offer classes and teach people how to launch an urban business. Neighbors hope it brings new life to the city.
"There needs to be more downtown definitely," said John Macedo a downtown worker. "I think it's a great idea ... it would help. It would definitely help. I mean, it's a resource that's not here now."
"I think it's amazing. Anything that can build up this city from the root," business owner Robert Blackburn said.
Robert Blackburn brought his company Blackdog Media downtown nine-years ago. He hopes the center gets rid of the for lease signs and vacant offices around him.
"Build it from the core up," he said. "I think it's the best thing for Rochester."
With the new Windstream building almost complete, and other big projects in the works, RIT can't wait to help transform downtown.
"Right at the heart of the city where so much is going own, it's a real thrill for us," Destler said.
RIT says it will take about nine months to refurbish the building, but it expects the new center to be open in Fall 2013.