ROCHESTER — (August 20, 2020) The City of Rochester recently held a covenant signing with Chinburg Properties for the redevelopment of the Scenic Theater and Salinger block on North Main Street, in downtown Rochester.
Chinburg Properties has committed to invest $8 million in order to convert the adjacent buildings into 50 apartments and 2,700 square feet of commercial space.
“Rochester is clearly open for business,” said Eric Chinburg, President and CEO of Chinburg Properties. “They have been creative and willing to work with us every step of the way. You can’t get this type of project done without that kind of cooperation and support. The process so far has been an amazing experience.”
City Council unanimously approved seven years of tax relief for the two structures through the Community Revitalization Tax Relief program, RSA 79-E. The objective of the 79-E program is to provide temporary tax relief to developers, like Chinburg Properties, to rehabilitate existing historic structures that might not otherwise be considered for redevelopment.
“We’re pleased Chinburg Properties decided to invest in our downtown. We believe this is just the beginning of a great redevelopment effort,” said Michael Scala, Economic Development Director for the City of Rochester. “This project will serve as a catalyst to attract new residents and businesses. We appreciate that Chinburg has the vision and foresight to see what we see for the future of downtown Rochester.”
Construction on the two properties is expected to begin in September and conclude in the fall of 2021.