BUFFALO, N.Y. (WBEN)......As prelude to the long planned, $50 million Diamond Lofts project, the development team has acquired the first of two Main Street buildings it needs to buy before construction can begin.
RE McNamara Inc.'s 1440 Main Street LLC affiliate paid $860,000 for the former AAA Lock building at 1440 Main Street.
The Clarence-based McNamara - headed by Patrick and Richard McNamara - are planning to develop the residential-anchored Diamond Lofts project in the heart of Buffalo's Midtown Main Street neighborhood.
Plans call for the McNamara's to buy the former Diamond Storage building at 1448 Main Street and renovate the seven-story building and have it anchored by 49 apartments.
The McNamara's have yet to close on the Diamond Storage building.
As for the AAA Lock building, plans call for it to be demolished and replaced with a five-story building that will have 118 apartments and indoor parking.
The project is one of several residential-anchored developments in the Midtown district that have either been completed, proposed or under construction.
AAA Lock building goes for $860,000
AAA Lock building goes for $860,000
