A three-story apartment building on the west side is coming back to life. Casa Shelby Development, LLC is proposing to renovate the vacant building at 250 Virginia Street for residential use. Twenty-four apartments and private parking are planned.
Business First has the details:
The building, located at the corner of Virginia and 10th streets, has been vacant for more than five years. Originally built as a hotel, it has gone through a number of changes and had been used as apartments.
“We’re doing this to help the neighborhood,” said developer Tony LoRusso. “This could be the start for other things.”
Tentative plans call for the building to house 24 apartments.
LoRusso has renovated and developed other apartment complexes in Buffalo, including the Brent Manor Apartments on Elmwood Avenue.
The project will be privately funded, although LoRusso said besides the ECIDA inducements, he also hopes to secure historic tax credits for the building.
Casa Shelby purchased the 15,500 sq.ft. property in late-January for $72,500. The developer is applying for assistance under the Erie County Industrial Development Agency’s new Adoptive Reuse Policy. It will be the second Virginia Street project to take advantage of the program. Kissling Interests is also utilizing the incentives to assist in the redevelopment of the National Casket Co. building at 430 Virginia Street into ten live/work residences.
One owner is thrilled to see the investment near the historic Virginia Street home he plans on restoring soon.
“I decided to purchase the house I am renovating in this area, which many refer to as a fringe location, in hopes of reinvestment by others,” says Ben Roberts, a senior account executive with e3communications.
“It goes without saying I am thrilled to hear that such a great building will be brought back to life. It also makes me feel much better about my investment when others see the worth in the same area.”
Work on the apartment project is expected to by underway in July and complete before the end of the year.