Pierce-Arrow Luxury Loft Project gets $1.2 million in Tax Breaks

Posted

From: The Buffalo News

“The $34.5 million project to turn the former Pierce-Arrow headquarters and warehouse on Elmwood Avenue into 107 loft apartments has been granted $1.2 million in tax breaks by the Erie County Industrial Development Agency.

The developers – Dr. Gregory F. Daniel’s Nidus Development and investor Joseph Hecht – plan to turn the largely vacant, 190,000-square-foot complex into apartments that rent for $950 to $1,600 a month.

‘This is a fantastic example of a very progressive adaptive reuse project,’ said Marc Romanowski, an attorney representing the developers.

‘It’s stabilizing an icon,’ Romanowski said. ‘The developers have passion for this building.'”

Continue to Article