Hopes were high when Rocco Termini purchased two of Buffalo oldest structures at 68-72 Sycamore Street with plans to redevelopment them into four apartments. Those plans suffered a sucker punch last night when 68 Sycamore caught fire and is now being demolished due to its unsafe condition.
Termini bought the buildings in June from Nancy Singh for $120,000. Singh had been seeking to demolish 68 Sycamore Street when Termini stepped up to save the buildings. Unconfirmed reports say squatters started the destructive fire.
Termini has an extensive restoration portfolio that includes the Lafayette Hotel, Ellicott Commons, Ellicott Lofts, IS Lofts, Oak School Lofts, AM&As Warehouse Lofts, and three downtown restaurant projects. In recent years, Termini has been busy in North Buffalo/Black Rock with several mixed-use redevelopment projects completed including ARCO Lofts, Houk Lofts, Foundry Lofts, and four proposed or underway restorations along Chandler Street.
With loss perhaps comes opportunity. 72 Sycamore remains and with Termini’s proven track record of reuse projects, chances are he will come up with something great for the site. It wouldn’t be the ‘win’ everyone hoped for but a good outcome from a significant loss.