Park Grove Realty Continues Plans for Westward Expansion
Park Grove Realty Begins Planning for Industrial Residential Lofts in Buffalo, NY.
FOR IMMEDIATE RELEASE
Media Contact:
46 Prince Street Suite 2003
Rochester NY, 14607
(585) 435-4766
Rochester, New York (July 11, 2019) – Park Grove Realty begins the planning phase for the 619 Exchange Street property in Buffalo, New York.
With Park Grove Realty’s continued progress on 990 Niagara Street, the 10-story mixed-rate building approved by the City of Buffalo’s Planning Board last year, the Rochester, NY property management group begins planning for a new real estate development project in Buffalo’s trendy Larkinville District..
The 4-floor Exchange Street Property was purchased from MU Partners in May of 2019. The building was owned by KW Textiles, a sporting goods company and currently remains as the occupant of the building as they look to relocate the business elsewhere in the City of Buffalo.
Sketch of the 619 Exchange Street building nearly a century ago.
Park Grove Property plans to maintain the industrial look with the new loft renovations.
The building is located in the historic commercial sector, the Larkin District in downtown Buffalo, NY. The district begins on Seneca and Larkin Street and continues Eastward towards Smith Street and Fillmore Avenue.
Located on the Southwest corner of Larkin and Exchange Street, the 619 Exchange Street lofts will join Larkin at Exchange, Hydraulic Hearth Restaurant and Brewery, Paula’s Donuts, Larkin Square and Mill Race Commons in the revitalization of the area. The district benefits from food truck vendors, weekly outdoor concert series, trendy eateries and its close proximity to I-190 S; an ideal location for Buffalo commuters.
Built-in 1904 with updates between 1915 and 1925, the 619 Exchange Street property is one of the only original structures left for renovation in the Larkin District. Designed by the country’s first professional female architect, Louise Blanchard Bethune for the former Iroquois Door Company. Bethune also designed such historic buildings as Hotel @ The Lafayette, a boutique hotel on 391 Washington Street, and the Buffalo Meter Company building now University of Buffalo’s Bethune Hall on 2917 Main Street.
The buildings raised cut stone foundation, large industrial windows with generous lighting and brick facade are ideal for the look of the converted industrial lofts.
Park Grove Realty is working with Passero Associates as the architect of the project, and the project will be designed as a historic rehab and repurposed as residential apartments. Passero Associates was also the architect for Park Grove’s 1255 University project. Much like the Exchange Street property, 1255 Lofts was the historic rehab of a manufacturing warehouse into mixed use commercial and residential lofts.
Passero Associates plans to keep the character of the renovated industrial warehouse by restoring some of its key features including the historic vault and original walls and mimicking the look of the industrial style windows with modern, energy efficient replacements.
Plans for the 100,000 square foot property include studio, one and two bedroom residential units as well as common areas for residents. Residents will have access to a welcoming lobby, outdoor and underground parking options, a proposed Club Room, exercise room and, on-site property management.
The project is expected to begin construction next Spring, breaking ground in March 2020.
For more information on this or other development projects contact Park Grove Realty at (585) 435-4766 or read the story featured in The Buffalo News.
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