Developers of a planned five-story condominium building at the site of the existing Cinemagic movie theater in Portsmouth say their plans call for 20% of the 100 units to be sold as workforce housing, meaning they will be below market rates.

Torrington Properties plans to demolish the shuttered movie theater on Lafayette Road and build the new condo development on the same site. Developers need to provide 20% workforce housing in order to get the density bonus to allow them to build five stories at the site.

A spokesman said the workforce units couldn’t be sold to any family of four with an annual income above the median area annual income, which is currently $106,600. He estimated a twobedroom workforce condo would sell for about $423,000.