The Buffalo development scene was certainly lively this week. Adding to the list of projects that have been announced/completed, Natale Development conducted the grand opening of “The Dorian” at 1491 Niagara Street. Not only is the 33,550 square foot former Aldrich and Ray Manufacturing Company building up and running, the project has also attracted two commercial anchor tenants.
- MVP Network Consulting, an IT consulting firm, is leasing approximately 13,000 square feet on parts of the first and third floors and all of the second floor with a workforce of 53 full time employees. The company is celebrating its 20th anniversary in 2022.
- The Horvath Chiropractic Center is located on the first floor occupying 3,500 square feet and has 9 employees. Horvath Chiropractic Center is celebrating its 30th anniversary in 2022.
“The redevelopment of this historic structure continues our company’s investment in the City of Buffalo and our second major project on Niagara Street,” said Natale Development CEO Angelo Natale. “What was once a vacant and dilapidated structure that generated no tax revenues is now a thriving commercial and residential space that is part of the revitalization of this emerging corridor.”
The historic building, designed by Frank Kempf (built between 1888 and 1904) originally served as a manufacturer of small copper goods, but grew to manufacture a full line of hotel, restaurant and home goods, according to Preservation Ready Sites Buffalo. In addition to the two commercial anchor tenants, the mixed-use structure also features seven, loft-style 2-bedroom residential units located on the fourth floor.
The $5.6 million project, designed by Carmina Wood Design, came into focus thanks to:
- The City of Buffalo’s 485-a tax exemption program for non-residential real property that is converted to a mix of residential and commercial uses. It also benefitted from
- Incentives through the Erie County Industrial Development Agency’s adaptive re-use program which offers tax incentives for the development of buildings that have been vacant for three years or longer and are 20 years old or older.
“The ECIDA Board of Directors adopted the Adaptive Reuse program in 2008 to address projects like this, and to help incentivize the development of formerly abandoned and underutilized structures in distressed communities in the urban core. On behalf of the ECIDA, I congratulate Natale Development for both preserving and transforming this historic building,” said ECIDA President and CEO John Cappellino.
Senator Sean Ryan said, “Up and down Niagara Street, long-vacant properties from Buffalo’s industrial past are being put to good use. It has been a thrill watching the transformation as projects like this one continue to breathe new life into this historic neighborhood. I commend Natale Development for identifying this opportunity to salvage a relic from Buffalo’s past and helping bring people back to Niagara Street.”
“This is a great example of how the successful adaptive reuse of an idle manufacturing site can add value and vibrancy to the structure and the surrounding neighborhood. I congratulate Natale Development on this project and welcome the two veteran business tenants to this fast-evolving section of the Niagara Street corridor,” said Mayor Byron W. Brown.
Assemblymember Jon D. Rivera said, “The metamorphosis of Niagara Street through the past five years is due in no small part to the ambition of adaptive re-use projects like 1491 Niagara St. Just a few years ago, the Niagara Street corridor was yearning for both commercial and residential investment. The historic space at 1491 Niagara is just the latest success story that showcases the renaissance of this important West Side neighborhood, as well as the potential for new, lucrative economic opportunity along this strip.”
“Congratulations to Natale Development on the grand opening of their adaptive re-use, mixed-use building at 1491 Niagara Street. Mixed-use buildings strengthen neighborhoods and business districts and there’s no doubt in my mind that Niagara Street will be stronger because of this building,” said Niagara District Council Member David Rivera.
Natale Development is also contemplating construction of a new tower across the street. The addition to the Crescendo complex could be up to twelve floors and include a mix of both apartments and condominiums.