Rocco Termini’s Signature Development is in the final stages of converting the former General Railway Signal Co. complex last occupied by FWS Furniture Company into a mix of hotel, residential and commercial space. The first of 36 residential units, the last component of the conversion, will come online in early June and pre-leasing has been extremely strong.
The building’s commercial space is occupied by Buffalo Spree, East Meets West Yoga, and Utilant LLC, a software company. Also planned are 21 guest rooms, The Foundry Suites, and a 9,000 sq.ft. banquet facility run by AcQua. A central interior courtyard (below) is a key feature of the $18 million complex. BMS Design is project architect and L2K Design handled the interior design work.
“We are wrapping up the 36 apartments over the next week and a half,” says Jason Rothschild, vice president of Signature Development. “The boutique hotel and banquet facility will be completed in early June. Buffalo Spree, East Meets West and Utilant are already open and enjoying their spaces.”
The first residential residents are moving in at the end of this month and the remainder will be all moved in by the beginning of August.
“The public response has been extraordinary. We started leasing the units in late February and as of writing we have only two, two bedroom units remaining,” says Rothschild. “The building is a great cross section of our community with Millennials, Generation X and Y, and a higher number of Baby Boomers than I anticipated.”
Tenants have been drawn to the special character of the building and its location- close to Buffalo State College, the Elmwood Village, Hertel Avenue, and other North Buffalo amenities.
Foundry Lofts is the second of three North Buffalo projects to date for Termini. On nearby Grote Street, the former Houk Wire Wheel Company facility was converted into 22 one and two-bedroom apartments with rents ranging from $950 to $1,275/month. A high-end hair salon and tattoo studio occupy the 3,000 sq.ft. of commercial space in the building.
Across from Foundry Lofts at 1807 Elmwood Avenue, Termini has plans to put 38 apartments into the former American Radiator headquarters building. That project will be named ‘ARCO Lofts’ (below).
“Foundry Lofts is significant in so many ways but it is another great example that if you create a desirable, affordable and cool space where people feel connected to the energy and vibrancy around them, they will support it,” says Rothschild. “This is the people in our community saying we want to continue to be a part of this renaissance happening in Buffalo and why Signature Development plans to continue to invest in this neighborhood with the ARCO Lofts in late 2014 early 2015.”
Get Connected: Signature Development, 716. 842.1938