Castle Community Proposal for Rochester Armory Building

PB Article 2017-01-14

The committee of the whole meeting is set for 3:30 p.m. Wednesday in Room 104 of the city-county Government Center.

Option 1: Maintain

The city could maintain ownership of the Armory building for a public use. Several groups have expressed interest in the property, including an arts and culture group, a group hoping to establish a veterans' museum, and a charter school.

The council would need to consider re-opening or re-starting a request for proposals process to select a tenant for the building. This option would likely see continued public funding support for building operations, and the city would retain liability for ongoing building maintenance and repairs.

Option 2: Divest

The city could market and pursue an outright sale of the Armory building. A private appraisal of the property set the value of the building at $675,000. The two city-owned parking lots near the property were valued at around $1.5 million. The value of the building could be 20 to 30 percent higher if it included the parking lots.

The appraisal also determined office and restaurant uses were the most viable in the building.

Option 3: Partial sale

A third option, or range of options, would include a sale of the Armory building and numerous scenarios for the city parking lots. The city could commit a number of guaranteed parking spaces to the building or move toward a future potential sale of the parking lots. This would facilitate a wider range of potential uses for the building.

The building is a protected historic property and would have to maintain its exterior and historic features in any future use, a condition that affected the value and potential uses of the building.

PB Article 2017-01-14

The committee of the whole meeting is set for 3:30 p.m. Wednesday in Room 104 of the city-county Government Center.

Option 1: Maintain

The city could maintain ownership of the Armory building for a public use. Several groups have expressed interest in the property, including an arts and culture group, a group hoping to establish a veterans' museum, and a charter school.

The council would need to consider re-opening or re-starting a request for proposals process to select a tenant for the building. This option would likely see continued public funding support for building operations, and the city would retain liability for ongoing building maintenance and repairs.

Option 2: Divest

The city could market and pursue an outright sale of the Armory building. A private appraisal of the property set the value of the building at $675,000. The two city-owned parking lots near the property were valued at around $1.5 million. The value of the building could be 20 to 30 percent higher if it included the parking lots.

The appraisal also determined office and restaurant uses were the most viable in the building.

Option 3: Partial sale

A third option, or range of options, would include a sale of the Armory building and numerous scenarios for the city parking lots. The city could commit a number of guaranteed parking spaces to the building or move toward a future potential sale of the parking lots. This would facilitate a wider range of potential uses for the building.

The building is a protected historic property and would have to maintain its exterior and historic features in any future use, a condition that affected the value and potential uses of the building.