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The number of downtown housing options continues to grow. Once a downtown development afterthought, housing may ironically turn out to be its golden child. Downtown Buffalo is seeing an unprecedented number of new residential projects. The latest is Oak School Lofts by Rocco Termini’s Signature Development. Located at 266 Oak Street, the former Buffalo Alternative School now houses 29 loft-like apartments.
Signature has invested over $5 million to create modern downtown living while retaining the historic character of the three-story brick schoolhouse. Twelve, two-bedroom units run between 850-square-feet and 1,100-square-feet on one or two levels. The remaining 17 units are 700-square-foot, one-bedroom units. Apartments feature granite countertops, stainless steel appliances, kitchen islands, hardwood floors, fireplaces, marble bath floors, walk-in closets, 10-foot ceilings, and even plasma TVs. To date, 16 units are leased and occupied at rents starting at approximately $800/month. Due to a mix of public and private financing, several of the units are rent restricted, based on income.
Once a ghost town when the workday ended, the recent influx of new downtown residents can provide significant and lasting benefits and help to create a vibrant, alive downtown.