Please ensure Javascript is enabled for purposes of website accessibility
Home / Today's Top Stories / Morgan, Rothschild state case for Parcel 5 project

Morgan, Rothschild state case for Parcel 5 project

Bob Morgan and Arnie Rothschild speaking to Rochester Rotary Club on Sept. 19.

Bob Morgan and Arnie Rothschild speaking to Rochester Rotary Club on Tuesday, Sept. 19.

The Rochester Broadway Theatre League’s Arnie Rothschild and Morgan Management’s Robert Morgan cited economic growth, downtown revitalization and the storied history of Rochester’s arts community as they made their case for the ambitious performing arts center at the site of Midtown’s Parcel 5.

“For years in Rochester, nothing got built without Xerox, Kodak or Bausch and Lomb’s involvement,” Rothschild said, speaking to the Rochester Rotary Club on Sept. 19. “No matter what we say, someone says we can’t do that. This is not just a performing arts center, this is downtown revitalization.”

The massive, $135 million undertaking, which would include a 3,000 seat theater, a 150-unit housing development and a 1,700 parking space underground garage, has been the subject of contention among city residents since  Mayor Lovely Warren accepted the proposal in April. Critics and proponents of an open civil space at the cite, under the name “Free Parcel 5,” call the project a glassy boondoggle that will further economically segregate an already divided downtown and only benefit suburbanites looking to spend an evening in the city. Many have compared the project to former mayor William Johnson’s infamous “Fast Ferry” project: a gaudy taxpayer burden destined to have its curtains drawn early just as the ferry was economically sunk.

Rothschild refutes this claim vehemently, arguing that the PAC will serve as a critical economic driver.

“Rochester is a great arts and entertainment town, just as Syracuse is a great college sports town and just as Buffalo is a great professional sports town,” Rothschild said. “This will create a huge number of jobs.”

The vision of Rothschild’s Golisano Center for the Performing Arts, an homage to the billionaire Rochester native who has pledged $25 million to the project, features a piazza-themed outside area with regular outdoor festivities, an outdoor stage and a massive display of performances within its walls able to be viewed from East Main Street. Rothschild looked to Golisano’s dedication to the project on proof of its feasibility.

“Tom Golisano has never been involved in a project like this,” Rothschild said. “Yet, as he reviewed the project, he agreed that it was important.”

Morgan, whose company is developing the lofty high-rises that will cap the center, called the project “iconic.”

“It’s definitely needed by the city,” Morgan said. “I’ve traveled to a lot of different cities, and it became clear to me that we need something like this.”

While a matter of dispute, with opposition to the project claiming the economic impact would be negligible, Rothschild estimated three-fold economic impact for each ticket: for every $1 dollar in tickets sales, $3 of economic impact will be clocked in the form of restaurant, shop and hotel sales. With a projected $18.5 million in ticket sales, Rothschild estimated a total of $55 million in economic impact per year.

However, the argument that the project will not support the local economy shows the disconnect between the proposal and the residency of downtown. According to a 2016 study by the Broadway Theatre League, from 2015 to 2016, 71 percent of touring Broadway show attendees were female, 91 percent were white and 52 percent reported an average income over $100,000. Rochester’s population, according to the U.S. Census, is 51.7 percent female, 43.7 percent white and 33.5 percent below the poverty line. The average age of attendees was 54, compared to an average age of 31.4 in Rochester.

Morgan argued that this project will attract new, more affluent residents back to Rochester.

“Downtown is coming back strong, and as it grows, people are going to want to live here,” Morgan said.

Ultimately, it was Rothschild’s stance that this project, with the promise of housing large-scale touring acts that are currently lost to Syracuse or Buffalo, is the future of downtown.

“Those who say it can’t be done need to get out of the way so we can do it,” Rothschild said.

 

3 comments

  1. This Golusano Performng Arts Center is an absolute necessary economic driver to a revitalizing Downtown Rochester, the greater metropolitan areas identity and economic heart, will draw greater CONVENTION business as a Spectacular auxiliary facility for future convention business development!!! The fact that it will draw patronage from those with dollars to spend IN the city (Duh!) that desperately needs those dollars for Futher JOB CREATION is a necessity! The answer to ending poverty is not class warfare resentment and fanning hatred, but realizing the basic FACT of Life and self-respect those jobs performed well by Working hard & taking responsibility for one’s behavior is key to being a high self-esteem, constructive contributing adult, as equal members of the greater community. Making the downtown More Liveable is key to helping eliminating poverty because it’s long been proven in many successful cities as a powerful element in drawing business to central metro areas.
    A park,lively as it may be, would only draw pigeons and loiterers, with ZERO economic benefit to downtown ECONOMIC Revitalization and JOB CREATION!

  2. I think everyone has gotten out of the way for you Arnie … all you need to do is put up more of RBTL and others money to fund the difference.

  3. A new theater on Parcel 5 will not generate NEW economic activity. Arnie and company are merely moving their shows (and their purported economic activity) six blocks down Main Street from the corner of Prince Street to the corner of Elm Street!
    For anyone who thinks this will fly without taxpayer support, I have a bridge I want to sell you. The people who prepare economic feasibility studies have one job and one job only – to prove whatever it is that their employer wants to prove! Frontier Field had an economic feasibility study that showed it wouldn’t cost the tax payers a penny and County tax payers have been putting over a million dollars a year into it nearly every year since it was built. The soccer stadium had a feasibility study that showed it wouldn’t cost taxpayers anything and this year City taxpayers are dumping over $500,000 into it. And yes, there is the fast ferry disaster! How many of these economic drains can local taxpayers be saddled with?
    Mr. Golisano’s money should be used to renovate the Auditorium Theater into a first class facility and have money left over.

x

Check Also

Tips for planning a business succession  (access required)

Planning for retirement and creating a contingency plan in the event of an unexpected exit from the workforce are critical ...

Succession plans critical for survival of family-owned businesses (access required)

While family-owned businesses are commonplace in the United States, those that are multigenerational remain rare gems. According to Cornell University’s ...

Is your strategic plan both strategic and a plan? (access required)

There is a lot of discussion about strategic planning in not-for-profit circles lately. Evidently, moving through a global pandemic and ...

What’s so great about the 2022 Great Places to Work? (access required)

It’s my favorite time of year: Great Place to Work just announced the 25th Fortune 100 Best Companies to Work ...

Loyalty programs – what you should know about compliance with the CPPA (access required)

From the straightforward “buy 9 smoothies, get 1 free,” to sophisticated frequent flyer programs, loyalty programs are a staple in ...

Are cover letters really necessary? Hiring professionals have differing opinions (access required)

“I’m a hiring manager at a local company looking to fill several positions. I’ve noticed that about two-thirds of our ...

Investment acumen or inside information? (access required)

If you had known, in early 2020, that you might be working from home during a multi-year, global pandemic, would ...

Opining on Dick Vitale’s courage, more Bills nicknames, stadium names

By the time he finished delivering a motivational speech that would have made Knute Rockne proud, Dick Vitale looked like ...

The importance of female mentorship, leadership, and innovation in banking (access required)

In my 10 years at Tompkins and 35 cumulative years in the banking field, I’ve witnessed the industry undergo several ...

How not to set policy to reduce the price of gasoline (access required)

High gas prices in the U.S. cause a lot of pain for Americans every time they take their vehicles to ...

Highland Hospital Gala (access required)

This year’s casino-themed Highland Hospital Gala raised its second highest amount ever, with more than $650,000 gross net income thanks ...

Inflation: How did we get here and what can be done about it? (access required)

If you’re in your 50s - o.k. early 50s - you probably remember a time when a gallon of gas ...

Reflections on pediatrics, the pandemic, and the Golden Circle (access required)

Imagine this: Your business has been open for only five months and is doing really well. Revenue is higher than ...

Will 2022 be the year of the vacation home? (access required)

With some COVID-19 restrictions relaxing and others already lifted, the smell of tourism is in the air. Demand for leisure ...

Transition services valuable for aging population (access required)

What do you need to stay safe in your family home, even if your home is getting to be too ...

Elder transition planning: Family mediation for older adults & their loved ones (access required)

The journey of aging is rarely a smooth one. As older adults and their families face emotional, financial and health ...

Senior living communities consider how to be more diverse, inclusive, accessible (access required)

The nation’s senior population is the largest and most diverse in history, according to the most recent census data from ...

Why is inflation so scary for my retirement plan? (access required)

Over the past decade, investors experienced a best-case scenario of relatively low inflation and strong investment returns from both stocks ...

A thoroughbred racehorse whose impact was not lost on us

It seemed like a good deal at the time – a rattletrap Ford van with more than 100,000 miles on ...

Ensuring your financial plan can withstand negative conditions  (access required)

Financial plans differ based on individuals’ incomes, future goals, age and tolerance for risk, but often unconsidered in those plans ...

Boomerang employees: tips on how to welcome team members home (access required)

Every manager at every level has experienced it — that awful feeling in the pit of your stomach when one ...

Spring cleaning: Considering program sustainability (access required)

There has never been a better time to consider the sustainability of your program activities and take action to address ...

Financial advisors can guide through tough times (access required)

With the country facing rising inflation and interest rates, as well as the lingering COVID-19 pandemic and the war in ...

Are you discriminating against employees with caregiving responsibilities? (access required)

As the world enters year three of the COVID-19 pandemic, the Equal Employment Opportunity Commission (“EEOC”) has issued a warning ...

Rochester accelerates its pace to become top tech hub in America (access required)

Rochester is on its way to becoming a national hub for technology innovation. Experts predict that it has the highest ...

A simple game for investors: How would you play? (access required)

Some years ago, financial author and advisor, Bill Schultheis, devised a simple game to illustrate the difficulty faced by investors ...

You need to improve your technology, but where do you start? (access required)

Technology is advancing at warp speed and certainly some innovations could benefit you and your company, but it’s easy to ...

Innovation advancements on display as Rochester continues to grow its technology ecosystem (access required)

From LIDROTEC, a company with patent-pending wafer dicing laser machines for the semiconductor industry to Stratio, which provides artificial intelligence ...

Milo the Dog has had a golden impact on Red Wings baseball, community

They had trained together five days a week for nearly six months in the backyard solitude of Josh Snyder’s rural ...

M&A middle-market activity: What businesses need to know (access required)

 Understanding the ins and outs, trends and activities going on in M&A markets can help businesses make informed decisions including ...

5 things to consider before deciding to work for yourself (access required)

When people ask me what I do, now that I’m out of television, I simply say, “I have my own ...

M&A lawyers keep busy despite pandemic barriers (access required)

2021 was a record-breaking year globally and nationally for mergers (combining two separate businesses into one new legal entity) and ...

Ending violent crime requires building trust between police, community (access required)

Rochester has recently been the recipient of many state, federal and private investments that create a true path for transformational ...

Former UR assistant Jay Wright continues working his hoops magic

Mike Neer likes to joke that he doesn’t get enough credit for helping Jay Wright become the best-dressed coach in ...

Four ways to prepare your business for the future of digital payments (access required)

Digital transformation continues to sweep the country — especially as more companies and their customers embrace digital payment technologies.Here are ...

Managing Our Manufacturing Plants in 2022 (access required)

There have been dramatic shifts in both the needs and the realities of manufacturing the United States over the past ...

“Rounding Errors” Can Add Up Quickly (access required)

It’s time to talk about time. For many employees, their lunch break is a time when they can step away ...

Just In Time production method becoming obsolete with supply chain issues (access required)

Just In Time (JIT) is a production method pioneered in the 1930s by Toyota Motor Corporation as a means to ...

Rochester firms embrace 3D printing for multiple purposes (access required)

Firms are using 3D printing to create unique tools, parts and other objects right here in Rochester, allowing for new ...

From mentee to mentor: the benefits mentorship provides for women in business (access required)

March marks Women’s History Month. It is a time to honor the strong, brave women who have broken down barriers, ...

Working across the ages: multigenerational teams offer multiple benefits (access required)

Quick: How long is the average career? If you guessed 40 years, you would’ve been right a few years ago. ...

Energy, dedication drive entrepreneurs at any age (access required)

Younger women who grew up with technology and worked in the gig economy may be more comfortable with the pace ...

Opining on Brandon Beane, SU hoops, a poor investment, baseball’s return

If you pressed me to rank the most indispensable Buffalo Bills of this glorious era, I’d go with quarterback Josh ...

Topics that don’t focus on COVID-19 for nonprofit leaders (access required)

For obvious reasons, COVID-19-19 and the many elements of disruption it has caused continue to dominate conversation at organizations of ...

March worldwide water, climate events are close to home (access required)

March marks two worldwide awareness events for the environment: World Water Day and Earth Hour. In Rochester, New York, these ...

Revisiting Art Schlichter’s sad tale of gambling addiction

Monday’s seismic news that Atlanta Falcons star receiver Calvin Ridley had been suspended for the 2022 season for betting on ...

Mentoring is an art passed from one generation to the next (access required)

Ahhh, what to say about the important art of mentoring? It is certainly an art and, in preparation for this ...

Protect intellectual property from the start (access required)

When it comes to intellectual property (IP), the old English idiom “penny wise and pound foolish” never goes out of ...

A loving team helped Chris Lillis ascend to Winter Olympic gold

Bernie Lillis points with pride to a framed photograph on the mantelpiece above the fireplace of his Fairport home. There ...

Three takeaways from Super Bowl ads to apply to marketing (access required)

Super Bowl ads deliver on a few recurring themes every year, and this year was no different. Whether it’s nostalgia ...

I Bonds: A rare bright spot for the income investor (access required)

Investors have a natural affinity for income-producing investments. A steady stream of investment income is comforting even if it is ...

What AG report on ‘credential stuffing’ hacks mean for your business (access required)

In January, New York Attorney General Letitia James released a report summarizing the findings of a broad investigation into so-called ...

Data privacy and security concerns with rise of online betting, gaming (access required)

As of January 8, 2022, New York State joined the ranks of more than a dozen states that have legalized ...

Potential headwinds are coming — what this means for your business (access required)

An abundance of liquidity and market exuberance in the world’s recovery from COVID-19 have made this a promising time for ...

Rochester’s Roland Williams hoping his Rams do it again

Eric Weddle is one of those feel-good stories that Rochester tight-end-turned-broadcaster Roland Williams has followed closely in recent weeks. Late ...

Vacant Lake Ave. car wash will become a Taco Bell (access required)

Taco Bell is coming back into the city of Rochester. Hospitality Restaurant Group (HRG) has purchased the former Evergreen Car ...

The Summit FCU partners with firm to provide student lending solutions   (access required)

The Summit Federal Credit Union has partnered with Credit Union Student Choice, a provider of higher education financing solutions to ...

Stifel, Nicolaus, and Company, Inc. (access required)

Stifel, Nicolaus, and Company, Inc. announces that Raymond (“RJ”) DeMonte, Jr. has joined their Rochester office as financial advisor. The ...