Ciminelli Real Estate Corporation’s plans for the Arbor + Reverie project in the Elmwood Village have changed. The developer has announced that three of the houses purchased as part of its planned project will be put on the market for sale this weekend. The properties, located at 584 and 588 Potomac and 721 Ashland, will be marketed by Red Door Real Estate WNY.
“The properties were initially scheduled for demolition as part of the development plan, but were subsequently reincorporated as stand-alone, multi-family homes to be renovated,” said Anne Duggan, Assistant Vice President of Marketing and Public Relations at Ciminelli. “As we continue our study and redesign of the project, it has been determined that the three properties will not play an integral role in the overall project plan and, thus, will be marketed for sale.”
She added that Red Door Real Estate will be working diligently to secure financially-qualified buyers with a reputation for quality management of their properties.
584 Potomac is a three-story, story-unit (including 2 studios) property; 588 Potomac is a three-story, three-unit property; and, 721 Ashland is a three-story, eight-unit property. Ciminelli’s earlier plans called for demolition of 584 Potomac and 721 Ashland with new residential buildings constructed in their place and minor improvements for 588 Potomac Avenue.
The development company earlier this year scaled back plans for the Reverie portion of the project at Elmwood and Potomac from five floors to four. The mixed-use building would contain 51 residential units, four retail spaces and 101 parking spaces. Ciminelli also delayed its plans for the more controversial Arbor building at Elmwood at Bidwell.
Get Connected: Renee Moran at Red Door Real Estate, 716.866.8361 or by email at firstname.lastname@example.org