BUFFALO, N.Y. — Developer Nick Sinatra is proposing to renovate a three-story, 17,000-square-foot building at 257 Elmwood Ave. into the Walcot Apartments with 12 apartments and street level commercial or retail space.
Sinatra is seeking tax breaks from the Erie County Industrial Development Agency to supplement rising costs including a 280% spike in lumber prices from late 2019 when the developer first considered the project. The IDA has set an Aug. 23 public hearing and a September vote for the $3.35 million project.
The 101-year-old building was constructed as an office building. It has gone through a number of uses since it opened in 1920 but has been vacant since Sinatra bought it in late 2016.
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