Architect/Developer Karl Frizlen and preservation expert Jason Yots purchased 68 Tonawanda Street today for $750,000. The seller was 120 Tonawanda Street Inc. A mix of residential and commercial space is planned for the historic site.
The building will be christened The Railyard Lofts and contain 37 market-rate apartments and 1,300 sq.ft. of commercial space at the Dearborn Street end of the building. The former terminal is currently utilized for warehouse space and light steel fabrication. Since the project is utilizing historic preservation tax credits, the restoration will be done in accordance to Department of Interior Standards. Preservation Studios is assisting with the tax credit documentation work.
Each of the apartments will contain two-bedrooms with a loft area. Sixty-six parking spaces are proposed, many behind the building. In addition, much-needed landscaping is proposed including sidewalks along Tonawanda Street.
Get Connected: Frizlen Group, 716.381.9838