WCPerspective: February 2009 Archives

Chason Affinity Cos.' $25 million plan for the corner of Elmwood and Forest avenues faces significant hurdles, but the developer is working to obtain the approvals necessary for the ambitious project.  The company unveiled its preliminary design to neighborhood residents two weeks ago.  Affinity Chief Executive Jeffrey Birtch says they have received a "fair amount of positive support" for the development which calls for an eight-story building combing retail, a boutique hotel with 125 rooms, enclosed

There is a condo for lease at Waterfront Place, where buyers only recently started closing on their units.  The two-bedroom, two-bath residence is available for $2200/month.  On the sales side, Ellicott Development has contracts out on 29 of the 48 units in the condominium tower.  Three lower-floor buyers have finalized their purchases at prices ranging from $349,000 to $424,000.

Tower residences include 10 to 12' ceilings, gourmet kitchens with custom cabinets and granite

If you were thinking of putting in an offer on the Tishman Building, you have until 5 PM today.  A New York City-based investment group is selling the 20-story, 198,000 sq.ft. tower at 10 Lafayette Square.  CB Richard Ellis brokers Charles Clark, Shana Stegner and Sarah Cashimere are handling the sealed-bid process.

Built in 1958, the Tishman served as the long-time headquarters for National Fuel until the utility company left downtown for Amherst in 2003. 

Previous attempts

The former KFC at Elmwood and Bryant has a new owner and a brighter, less greasy future.  FJF Development, consisting of developer/builder Paul Johnson, attorney Michael Ferdman and architect Karl Frizlen, purchased the property late last week for $425,000.  A three-story mixed-use project is planned for the site.

The development team in recent months

Chason Affinity Cos. is diving into the hotel and luxury condo market in a big way.  Despite today's difficult economic climate, the developer is planning an eight-story, mixed-use project for the corner of Elmwood and Forest avenues.  The $25 million building will include ground floor retail, a boutique hotel with 125 rooms, enclosed parking for 160 cars, and 20 condominiums on the top three floors according to today's The Buffalo News:

Word is getting out.  The Cottage District is in.  Bound by Connecticut Street, and Richmond, Porter, and Prospect avenues northwest of Kleinhans Music Hall, the neighborhood used to be considered "off-limits" by many property buyers. 

Despite the recent downturn in the residential real estate market, investment in the neighborhood has thus far remained steady.  The draw?  Good value.  The area has also benefited by grassroots efforts to revitalize the West Side.

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495 Main Street is for sale.  The two-story brick cube has been empty since Burger King closed over a decade ago, September 1998.  Downtown lost several other fast food restaurants at about the same time including an Arby's at Main and Genesee, a nearby Wendy's, and two McDonald's- one across from Burger King and one in the Theater District.  The fast food exodus from downtown accelerated after the closing of AM&A's/BonTon, LL Bergers and Sibley's. 

The 5,800 sq.ft. building, built in 1978 with seating for 140, is owned by a New Jersey-based corporation.  Jerry Thompson II of Century

The ground floor at 17 Court Street is available for lease.  The space has not had a tenant since Peller & Mure closed its store there.  In 1999 (edited).  Men's apparel retailer Peller & Mure had relocated to the space from Olympic Towers, but closed after a 51 year run downtown due to declining sales. 

The seven-story, 49,400 sq.ft. Art Deco building at the corner of Pearl and Court streets opened in 1929 and was the headquarters of Buffalo Industrial Bank.  Key Bank's regional

High rise living comes with a high price at the Avant, the former Dulski federal building located at 200 Delaware Avenue.  Eight of the 27 condominium units being offered in the building are priced at over $1 million.  A total of 18 are priced over $500,000 according to today's The Buffalo News.  Before you scoff, one realtor familiar with the project says at least three of the $1 million+ residences are already spoken for.

A surge of residential development in recent years has added hundreds of apartments

A two-story building in the Cobblestone District is in line for a transformation.  Owner 1876 Buehl Block LLC plans to renovate 49 Illinois Street for commercial occupancy.   The developer purchased the brick structure, located between HSBC Arena and the Avalon Development/Savarino Cos. mixed-use renovations on Mississippi Street, last April. 

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The ornate Calumet Building is back on the market.  Owners Mark Goldman and Arthur ZIller have listed the Chippewa Street landmark with Hastings Cohn Real Estate with a $1.1 million asking price.  Goldman is credited for the revitalization of Chippewa Street when he opened the Calumet Arts Café in 1990.  The 26,400 sq.ft, three-story building was designed by architects Esenwein & Johnson. 

Business First has the sale details: