$3,345,000 -  Lease/Leaseback Inducement Resolution approved by ECIDA Board of Directors

Sinatra and Company Real Estate was founded in 2010 and has its HQ in Buffalo, NY. With approx. 5,800 apartments and nearly 1 Mil commercial sq ft owned and managed in WNY, Upstate NY, Dallas, South Bend and Chicago regions, Sinatra and Company are one of the largest private owner-operators of apartments and commercial properties in WNY. Sinatra and Company Redevelopment, LLC (the applicant) is a subsidiary of this group.  

The Walcot Apartments are an adaptive reuse & historic tax credit project within the Elmwood Village. This 12,500 sq ft mid-century modern building has been vacant for nearly a decade. With the rise in construction materials costs, labor shortages and various financial obstacles such as asbestos and structural issues, the project is seeking assistance to lower renovation costs. The project will create 12 one-bedroom apartments (ranging from 700 – 900 sq ft @ $1,022 - $1,850/mo). 10% (1) apartment will be offered at an affordable rate (80% AMI) and 11 apartments will be market rate. There will be approx. 500 sq ft of light commercial space on the 1^st floor.