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Big Deal: Jemal Buys Simon Properties

Douglas Jemal has closed on the purchase of the Simon Electric properties concentrated along Ellicott Street.  Jemal paid $5 million for the properties under the Jemals Simon LLC.  Plans call for a three-phase redevelopment effort that includes up to 600 apartments if his proposal for the City’s Mohawk Ramp is selected over two others.Simon Electric’s properties were first put up for sale in 2019. Despite strong interest, Simon never found the right deal. The holdings include seven buildings with 80,500 sq.ft. of space and a total 1.78 acres of property.

Plans call for 400 residential units and commercial space on the Simon sites and 200 units on the Mohawk Ramp site.  Ten percent of the units would be affordable. Development would occur in three phases over three years beginning with a two-level addition to the parking ramp and reuse of the Burns Building at 25 E. Huron Street with a new structure on the parking lot next to it along Ellicott Street.  Phase two includes 250 units along the east side of Ellicott Street north of E. Huron Street while preserving existing historic structures.

Jemal says he will move forward with his plans even if his proposal for the Mohawk Ramp site is rejected in favor of one of the two remaining competing plans.

Written by Buffalo Rising

Buffalo Rising

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