Real Estate August 11, 2010 11:30 AM

Bosche Building Update: Still Standing, Awaits City Action

Bosche Building Update: Still Standing, Awaits City Action

With another winter looming, neighbors are growing increasingly concerned about the fate of 918 Main Street.  The City-owned, roof-impaired Bosche Building may not survive another winter according they say.  A developer is ready and willing to redevelop the vacant property and state money has been allocated to shore-up the building, yet work has not begun.

The City must free up gap financing to conduct a Phase I environmental study, retain a structural consultant and start the selective demolition and stabilization work.  The $1.2 million in state funding, from a RestoreNY grant received earlier this year, is a reimbursement program.  The City must spend the money and then request payment from Albany.  According to insiders, obaining internal authorizations to start the contracting process has been agonizingly slow. 

A hole in the building's roof has been growing for several years.  Stabilization work is anticipated to take three to four months to complete.  It will involve securing the building's superstructure and bracing the outside walls.  If work starts by November, there's an outside chance a new roof could be on the building in December. 

The four-story, Richardsonian Romanesque masonry building is located in the Allentown Historic Preservation District south of Allen Street.  It is a former carriage factory built in the 1880's and designed by Cyrus K. Porter, a well-known Buffalo architect. 

Greenleaf & Co. was given designated developer status for the property earlier this year.  The developer's plan is to combine 918 Main Street with its adjacent property next door to create 18-19 upper floor apartments and first floor commercial space.  That's if there's still a building to restore. 

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This is a very important building for Main Street and Allentown. It should not be treated so casually as if it were the Livery or St Marys on the Hill...but them whether Masiello or Brown...atleast Buffalo is consistently incompetent in this area of governance.

What a loss the Schmidt and Vernor Buildings were for Main Street...and now the danger repeated with the Bosch. What will it take to learn?

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If they can even save the facade it will be amazing, the inside is so shot you have to rebuild everything anyway. It looks like a meteor hit it. I saw the inside a few years ago and there was vegetation (dare i say a tree) growing inside.

It's disgusting how these buildings are left to rot. If owners can't do anything with them they should at least be required to mothball properly or whatever.

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Easier said than done (making owners mothball buildings properly). Mothballing properly involves, first and foremost, replacing the roof. That is mighty expensive.

In many cases (such as this one), the owners give up and lose the property to back taxes. The city has owned this property for the better part of the decade. Without any structural work (that is, no replacing of rafters, beams, deck, etc), replacing a roof (tear off, using old deck, installing insulation and new membrane) is $10/square foot. You have a 5,000 floorplate? That's $50,000. That's just for the roof. Where does the owner get the dough?

I would like to see the city lend money to property owners for such stabilization as new roofs, etc., on buildings we deem significant or on any building 100 years old or older. Don't give away the money. Lend it at, say, 5% interest over, say, ten years. You can't get a bank to lend you money to put on a new roof of your vacant building. But if you could get the money somewhere, the chance of continuing to fix and then occupy the building would be much better.

replied to JM
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I really like the idea of a rotating low-interest loan fund to help city property owners maintain their buildings. I'm sure there are lots of complications involved in qualifying loan applicants to make sure the fund stays solvent (people who are having trouble maintaining their property may likely have problems paying back a loan), but I think the basic idea is great.

replied to biniszkiewicz
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How about if you can't even afford a roof you sell it or don't even buy it. I only live within my means so buying a building and not being able to afford a roof doesn't make any sense to me.

Also how much is demo cost compared to repairing a roof?

I agree 100% with the roofing loans. Once the roof starts leaking nothing else matters.

replied to biniszkiewicz
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With the surplus the city has it should create a fund to protect these buildings and enforce absentee or unprepared owners from destroying buildings that make our city special.

They should also be working to attract businesses to the city. Other cities throughout the country or underwater in massive debt we should take advatage of the fact that we are solvent to better the city while others are down.

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What's the status of Greenleaf's development at 1040 Delaware avenue? I saw articles on it and then, poof, nothing else!

Also, I'm confused about this property. Is 916 part of this overall development? Greenleaf is doing 916 as well so I'm confused as to it this is all one big development that will be done at the same time or if they are separate. Can somebody clear that up for me?

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Yea Greenleaf already owns 916 and looks like has been assigned as developer of 918 which makes sense, since the buildings are intertwined. 916 can't really do anything until they do something with 918.

replied to mcreadyinteriors
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1040 info. coming soon.

replied to mcreadyinteriors
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