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Done Deal: Regan Development Buys 885 Niagara Street

Regan Development Corporation  purchased the former Buffalo Milk Company Dairy building at 885 Niagara Street today to begin its plan of converting it to affordable housing. Regan’s Niagara Gateway LLC paid $140,000 for the complex that also fronts Prospect Avenue. Burnwood Studios Inc. was the seller.

The building at 885 Niagara was designed in 1903 by Sidney H. Woodruff, architect of the original Pierce-Arrow showroom on Main Street, for the Buffalo Milk Company, a Medina sandstone and Roman brick structure in the neo-classical style.

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Historic photo provided by Bryan Lohr

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Fifty-three affordable rental units are planned as well as two commercial units for retail and services on the first floor. It will target eight residential units for homeless refugees and contribute to the vibrant immigrant community on the West Side.

Rents will be targeted at $495 for 1 bedroom and $612 for 2 bedroom apartments with tenants paying for their own utilities. Regan Development is working with NYSHCR, First Sterling Financial and the Community Preservation Corporation as financing partners for the $8 million redevelopment. A $1.81 million loan was awarded to the project by New York State through the Better Buffalo Fund initiative last year.

HHL Architects designed the project. Occupancy is scheduled for fall 2017.  Preservation Studios is working on the Historic Preservation Tax Credit piece.

Ardsley, New York-based Regan Development previously rehabbed the Packard Building at 1325 Main Street into a similar affordable housing complex also designed by HHL Architects.

Get Connected: Regan Development, 914.693.6613

Written by Buffalo Rising

Buffalo Rising

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