E Square Capital, LLC is busy converting a former factory at 937 Broadway near Fillmore Avenue into a mix of 43 studio, one-bedroom and two-bedroom apartments plus first-floor commercial space. Eran and Randy Epstein purchased the four-story building in 2002 from Mauntner Co., a jewelry display case manufacturer that vacated the structure in 2000.
“This residential development fills a huge need and is a great opportunity to bring quality, affordable housing to the Broadway-Fillmore area,” Eran Epstein said. “By renovating a solid old building with big windows we have the space to feature attractive loft-style interior designs.”
The company purchased four nearby vacant lots from the City of Buffalo and will turn them into a gated parking lot to accommodate 24 vehicles at Wilson and Townsend Streets.
The project, designed by Silvestri Architects, is being developed with a combination of private investment and assistance from the Erie County Industrial Development Agency (ECIDA), a grant from the New York State Division of Housing and Community Renewal, and the participation of Citizens Bank.
Monthly rent for the units will range from $299 to $549, including heat.
The Epsteins are developing this project with a Long Island-based partner, Chris Gerhart of CWG Development. Previously, they combined efforts to rehabilitate and renovate the ten-story former Holling Press factory into 82 affordable one- and two-bedroom rental apartments at 501 Washington Street downtown.
Get connected: E Square Capital, 716.884.8213