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Key Financing Piece for Main-Cathedral Apartment Project Approved

A project to put high-end apartments in a block of empty office space is moving forward. Kissling Interests, LLC has been approved for $750,000 in financing through the Buffalo Building Reuse (BBRP) Loan Program to develop 26 apartments in the Main-Cathedral Building at 298 Man Street.

Kissling plans to convert five floors of unused office space into 26 residential units including two roof top garden apartments. The units will range from approximately 1,000 sq. ft. to 1,600 sq. ft. and will  include granite countertops, stainless steel appliances, in-unit laundry, energy efficient lighting, valet parking, and a concierge service. Tenants will have stunning views of the building’s landmark neighbors including the Ellicott Square Building (below), Guaranty Building, and St. Paul’s Cathedral. Many of the units will offer lake views.  Carmina Wood Morris is designing the project.

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Kissling Interests, primarily a residential property developer, owner and manager, purchased the 11-story, multi-tenant office building in 2001 for $2.6 million. Law firm Damon & Morey’s move to Avant in 2009 left Kissling with seven floors of office space to fill. The first six floors will remain commercial space. The project, which complements Mayor Brown’s goal of adding 1,300 new housing units by 2018, will also include renovations to the first floor lobby and common areas and aims for LEED bronze certification.

“This project is precisely the type of project that I had in mind when I called for the creation of the Buffalo Building Reuse Project,” said Mayor Brown, noting that in 2012 he committed nearly $12 million over three years for targeted downtown adaptive re-use projects. “This project will transform vacant and underutilized office space into “live-work” residential units that will appeal to the influx of employees entering downtown over the next few years.”

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“This project brings more residents to the downtown core. Its Main Street location and adjacency to public transit also made this project a clear frontrunner for BBRP funding,” said Brandye Merriweather, BUDC Downtown Development Coordinator and Manager.

$3 million in City-by-City funding was provided by New York State and allocated by Mayor Brown to the BBRP Loan Program to assist redevelopment projects in downtown Buffalo. A request for proposals was issued to identify potential projects for funding consideration. The $12 million Main–Cathedral project is scheduled to begin construction in February.

Get Connected: Kissling Interests, 716.853.2787

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Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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