Sinatra brings Pierce-Arrow redevelopment project for approval
More than 30 months after buying part of the former Pierce-Arrow Factory Complex – and two years after first proposing a project – Nick Sinatra is coming back to the city with his plan to convert the North Buffalo building into 72 new market-rate apartments.
Sinatra & Co. Real Estate and partner Barry Fichman are proposing to renovate the turn-of-the-century former factory – known as Building D of the larger complex – into a loft-style residential building with limited commercial space, according to documents submitted to the Buffalo Planning Board.
Located at 155 Great Arrow Drive, the building sits on 4 acres of a larger 6.68-acre site, and has been used for storage of classic cars and antique boats until now.
The developers will rely on state and federal historic tax credits to help fund the $15.3 million project, which will restore the four-story building's concrete frame and all of the original window openings, according to plans by Carmina Wood Morris PC. The developers also intend to install new aluminum windows to provide natural light while replicating the look of the original steel-sash industrial windows.
Crews will also repair and rebuild the driveway leading to the parking lot north of the building, which will also be rebuilt for 120 parking spaces. A large asphalt-paved open area to the south of the building will be turned into a landscaped circular yard with pavers and steps.
A rendering of Nick Sinatra's proposed redevelopment of Building D of the Pierce Arrow Factory Complex. (Courtesy of Buffalo Planning Board)
Sinatra acquired the property in December 2016, and submitted plans to the city for his venture in October 2017. He also applied for tax breaks from the Erie County Industrial Development Agency, which approved a package totaling $615,000 in sales and mortgage tax incentives.
At the time, his plans called for a mix of one-, two-, and three-bedroom apartments, ranging in size from 700 to 1,500 square feet. Rents had not been finalized, but Sinatra said then that they would likely vary from $1,000 to $1,500 per month.
The project was also slated to include 3,000 square feet of space for an "amenity-based tenant," plus tenant storage, bike storage and a mailroom.
Source:
https://buffalonews.com/2019/07/25/s...-for-approval/