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Project Name

432 Abbott Road, LLC

Address

31 Tamarack Street
Buffalo
New York
14220

Project Details

The proposed project entails the purchase and adaptive reuse of two school buildings which are part of the St. Thomas Aquinas Church complex.  The buildings are located in South Buffalo in a predominantly residential area.  The two school buildings that the developer is purchasing from the diocese are empty and have not been used since 2006.  Once reconstruction is completed, the buildings will house 32 market-rate apartments with the former school gym to be made available as a fitness center for groups looking to rent it for functions.  The apartments will range in size between  476 sq. ft. and 1,160 sq. ft. and the monthly rents will  be in the range of $550 - $1,200.  The restoration will follow the Department of Interior standards as mandated by the State Historic Preservation Office.  The school building is in a distressed census tract and has been vacant since 2006.  From inception, the building has been exempt from taxes.  The purchase by the developer will return the property to the tax rolls.

 

Status Details

6/17/2015     $4,570,000 - Lease/Leaseback Inducement Resolution approved by the Board of Directors