Children’s Hospital may be on its way out of the Elmwood Village but three of Buffalo’s most active developers are betting on the neighborhood’s future. Ellicott Development Company, Rocco Termini, and now Sinatra & Company have bought or have plans to buy properties just steps from the hospital.
Ellicott Development’s 2680 Group LLC purchased the building that housed Nektar at 451 Elmwood Avenue on August 4 from Malliaris Stavros. The company paid $615,000 for the 2,430 sq.ft. building and adjacent parking lot. Tom Cowan, owner of City Tavern, has agreed to lease the space and open a new restaurant there later this year.
At nearby 486 and 492 Elmwood Avenue, Rocco Termini has the former Faherty’s and Toro locations under contract. A brewery/brew pub is planned for the former Faherty’s space at 490 Elmwood that will be operated by Mike Shatzel. The Toro space will contain a restaurant.
And in the latest pending sale, Sinatra & Company has the Casa-di-Pizza property under contract. Sinatra & Company President Nick Sinatra confirms the agreement but could not provide any details on the pending purchase including plans for the site. It is also unclear which properties are included in the sale. 477 Elmwood Inc. owns the Casa di Pizza building at 471 Elmwood, an adjacent two-story building at 481 Elmwood, and a parking lot behind both properties at 149 Hodge Street.