BUFFALO, N.Y. (WBEN)....Since the late 1880s the four-story building at 124 Genesee Street was home to furniture-based retailers including F. Scherer and Sons, who ended its 127-year run at that gateway location two years ago.
But, now there is new life for the building.
Developer and former Congressman Chris Jacobs said he will be investing more than $7 million to renovate the building into a complex anchored by 22 market rate apartments and some street-level retail.
Pending final City of Buffalo approvals, Jacobs said he expects to begin the renovation work within the next four months.
"The building has some great bones, but it does need some work," Jacobs said.
Because of its local just off of the Kensington Expressway and Elm-Oak arterial, the building serves as a gateway into downtown and the central business district.
"Having that renovated sends a strong message," said Buffalo Deputy Mayor Thomas Baines.
Jacobs bought the building in August, 2024, paying $700,000 and immediately began working on possible redevelopment plans.
Landing historic tax credits helped Jacobs pencil out the project.
"It was a big piece," Jacobs said.
The project is the latest in Jacobs' growing downtown Buffalo real estate portfolio including properties on Main Street and Tupper Street.
"We hope others will follow," Baines said.
Developer Chris Jacobs to invest $7 million in Genesee Street project
Developer Chris Jacobs to invest $7 million in Genesee Street project
