Larkin Development Group (LDG), which earlier this week unveiled a build-to-suit project for Capital Management Services at 111 Hydraulic Street, has added to its portfolio in the Hydraulics neighborhood. The company purchased 696 Seneca Street, commonly referred to as the former Larkin Men's Club Building. Built in 1890 as the rectory for Sacred Heart Church, a German-speaking Catholic congregation founded in 1875, The Larkin Company purchased it in 1915 to make way for anticipated factory expansion and converted the rectory to the Larkin Men's Club.
In 1940, the approximately 15,000 sq.ft, two-story brick building was converted to a neighborhood tavern after the Larkin Company's liquidation. It was converted into a rooming house in 1999 and is now vacant. Larkin Development Group's initial plan is to convert the building into market-rate apartments.
The property, purchased for $300,000, represents the fourth acquisition of former historic Larkin Co. buildings that LDG has acquired in the past eight years.
According to LDG partner Joseph Petrella, "This represents another important step forward in the rehabilation of the historic Larkin District. Our goal is to create a vibrant mixed-use district that has always been the trademark of this district dating back well over 150 years."
The site is located immediately west and north of the Larkin at Exchange Building, and is bordered by Seneca and Swan streets. Larkin Development expects to complete rehab of the historic site in the next 12-24 months.
Get Connected: Larkin Development Group, 716.362.2678
So much (relatively)sudden, continuous investment in this area. Its very exciting to see!