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Downtown Loft Condos to Begin at $215,000

Those clamoring to own a downtown loft rejoice.  Schneider Development is moving forward with conversion of Historic Warehouse Lofts at 210 Ellicott Street to condominium ownership.  Prices for the building’s 30 units will start at $215,000.

Developers have been busy since turning worn buildings into chic residences, translating into people occupying downtown on a 24-hour basis.  Nearly all of the new residential options have been rentals however.

Downtown living is particularly attractive to baby boomers and young professionals.  They want to walk to work, sporting events, theater and dining, and do not want the responsibilities of conventional home ownership.

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Photo by Katie Schneider Photo

Since the developers utilized Historic Tax Credits (HTC) to help offset the cost of rehabilitation, the building could not be utilized for condominiums until the five-year recapture period had ended.

Historic Warehouse Lofts is the result of a $7.5 million conversion of the former Seneca Paper Co. warehouse.  Originally constructed in 1913, the seven-story building is one of the first concrete frame warehouse buildings in the United States. The building is a contributing structure in the J.N. Adams – AM&A’s Historic District and reopened for residential tenants in 2007.

The conversion project, which has been in the works since early 2013, had its offering plan approved by the State Attorney General.

210 Ellicott Floorplan

The property features six units per floor on floors three through seven encompassing 17 two-bedroom and 13 one-bedroom units and range in size from 950 to 1,600 square feet.  The apartments currently rent between $1,050 and $2,000 per month and will sell for between $215,000 and $365,000.  Current tenants are being offered the chance to buy their unit before the project is marketed to the general public.

The building has 8,800 sq.ft. of commercial space on the second floor, a basement storage area, and sixty parking spaces, fourteen which are covered.

Schneider Development recently finished Apartments at The Hub, 50 upscale loft apartments and retail space in two historic buildings at 145-149 Swan Street.  The company is also moving forward with its next project, redevelopment of 295 and 305 Niagara Street into a mix of residential and commercial space.

Get Connected: Schneider Development, 716.923.7000

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Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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