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Project Name

Elm/Michigan Holdings, LLC/The Planing Mill

Address

141 Elm Street
Buffalo
New York
14203

Project Details

The proposed project consists of the renovation and adaptive reuse of the former EM Hager & Sons Planing Mill building located on Elm Street in the City of Buffalo.  The facility is 44,000 sq. ft. and was constructed  between 1878 and the 1920's  The building has been listed on the National & State Register of Historic Places.  The property will be redeveloped and undergo a comprehensive exterior restoration and complete interior reconstruction to accommodate approximately 22 one and two bedroom loft style residential units ($900 - $1,900 a month) as well as commercial space on the ground floor.

The building has been vacant for 10+ years and has suffered through neglect.  There is an excessive amount of structural damage which increases the project cost and project complexity.  TMM is pursuing historic tax credits for this project.  Accordingly, the rehabilitation of the building must conform to preservation standards set forth by the State Historic Preservation Office and the National Parks Service.  In addition to the structural damage, the original use of the building as a planing mill created several different floor elevations which have to be adjusted, adding significant costs to the overall project.

 

Status Details

2/26/2014  - $8,133,102 Lease/Leaseback Inducement Resolution passed by ECIDA Board of Directors