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Project Name

1485 Niagara LLC

Address

1485 Niagara street
Buffalo
New York
14203

Project Log

Public Hearing Transcript

No label, for future use

Project Details

 

The developers propose to adaptively reuse this 30,000 sq. ft. structure to provide a mixed-use project consisting of both commercial and residential uses.  The building was constructed in the early 1900's and was formerly used by the former Aldrich & Ray Manufacturing Company.  The first two floors will provide 16,000 sq. ft. of commercial space to be occupied by a chiropractic office (3,750 sq. ft.)  and a network consulting company (12,500 sq. ft.).  In addition, 14 market rate apartments are planned for the remaining 14,000 sq. ft. The square footage of the apartments will be in the 900-1,300 sq. ft. range and rent will average between $1,200 - $2,000.  It should be noted the developer is considering designating at least one of the units as affordable offered at a rental rate of 90% of AMI.  Both commercial tenants are currently in  leased space in the City of Buffalo.

 

The building requires a full façade restoration, new roof, all custom windows, new entry doors, a new elevator and a full site cleanup with a new parking lot and sidewalks.

 

The project has been accepted into the NYSDEC Brownfield Cleanup Program.  Additionally, they are working with SHPO for historic rehabilitation credits.

 

Status Details

 10/24/2018 - $5,600,000 Lease/Leaseback Inducement Resolution passed by the ECIDA Board of Directors.