The Broadway churn continues. A commercial building at 343 Broadway changed hands last Thursday. Dr. Uzo Ihenko’s Broadway Development & Management Group LLC purchased the building at the southeast corner of Broadway and Walnut for a paltry $150,000 from Cilyox Inc. Ihenko is planning to retain some commercial space and add “workforce housing” in the building.
The 37,906 sq.ft. building is occupied by Ace Printing Co. and is two floors along Broadway and three floors along Walnut. Broadway near downtown has seen significant developer interest and is across the street from HELP USA’s two completed housing developments and one recently proposed. It is unclear whether Ace will remain as a tenant in the mixed-use project.
Broadway Development & Management Group is working with the City to acquire 361, 369, 371 Broadway, 176, 178, 182 Archie Street and 211, 217 Walnut Street. The acquisition of the City and BNRC-owned vacant lots is necessary to meet parking requirements and to create enough green space on the property.
The total project costs are estimated at $7.25 million. A loan through the Buffalo Building and Reuse Project is expected to assist with the redevelopment.
