Signature Development and Rocco Termini are at it again. The pioneering downtown residential development team is starting work this week to convert the vacant AM&A's warehouses into to a mix of commercial and apartment space. Bucking a slow economy and tight credit markets, the $11 million project is utilizing a complicated mix of financing including historic perservation tax credits and IDA incentives.
Signature is purchasing the properties from New Horizons Acquisitions which bought the former department store and warehouses in September 2006 for $2.05 million. New Horizons' plan to convert the buildings into a mix of 180 apartments and ground floor retail have not come to pass.
Three, five-story inter-connected buildings fronting Washington Street, built between 1886 and 1911, two by architectural firm Esenwein & Johnson, will be converted into commercial space and 48 loft apartments. A three-story addition constructed in 1965 at 34-42 East Eagle Street will be demolished to provide tenant parking (images below). Debt collector Phillips & Burns has agreed to lease the office space. The firm will relocate from Ellicott Commons and may add up to fifty new jobs.
The project is Signature's sixth downtown and largest to date. Signature's portfolio includes Ellicott Lofts (38 units), IS Lofts (24), Oak School Lofts (29), Ellicott Commons (30), and the Webb Lofts (32). Carmina Wood Morris, P.C., the architecture, engineering, and interior design firm on Signature's award-winning Webb Building conversion, is project architect.
Get Connected: Signature Development, 716.861.5385




Hurry, put signs on the buildings so Mayor Brown doesn't tear them down as a therapeutic demolition.