SPA Lofts- Show and Tell
Take five regular men who grow tired of TALKING about downtown development and decide to start DOING and what do you get? SPA Lofts at 9 Genesee Street. The five have also set up a blog to allow us to look over their shoulders and share in their adventure.
Though construction has yet to start, the process has already been rewarding and challenging.
The five friends, three in Buffalo, one in Rochester and one in Manhattan, operating under the name of SPA Lofts LLC, purchased the three+ story building fronting Roosevelt Plaza in July 2005 for $74,500. Two apartments are planned for the upper floors with retail on the first floor of the sixty year old building. To date, the interior has been gutted and their architect, TRM Architects, has finished the design work. The downstairs space is getting a new storefront, and will be approximately 800 sq.ft. plus use of the basement. The second floor apartment will also be 800 sq.ft. with one bedroom, hard wood floors, and the original brick walls along the side walls. The third floor will be 1200 sq.ft. with 2 bedrooms, including a 4th floor loft space. As can be seen from the photo below, the view of M&T Center and Fountain Plaza from the apartments is fantastic. The group’s plan is to create unique space which will be finished to a higher standard than most of downtown's current crop of mass produced "luxury lofts."
Work was scheduled to start this week, but there has been a minor delay in reviewing contractor bids. Bank financing is in place to get started this month with completion anticipated for May.
Buffalo Rising contributor Harvey Garrett is working with a SPA Lofts member to write a few stories about their experiences. Because they want to encourage other "small time investors" to take the plunge and buy property downtown, they have also started the blog that details their experiences. The blog is relatively new, but it has the potential to be a community resource that helps others avoid the troubles they encounter. Their hope is to inspire some people, and at the same time save them some of the headaches.
The ground floor retail space and apartments are currently for lease. If interested, email Andy.
Even if you aren’t in the market for a stunning apartment or commercial space, drop them a line, wish them luck, and say thanks.
Here's the view:
This whole row of Buildings could make for great lofts. It is desparately needed
i have been in love with this row of buildings for quite some time, i am def contacting regarding the apartment rental.
YEAAAAAAAAAAAY!!!!!!!!!!!!
A. that building (the entire block) needed a something to get it going. It's been an eyesore in the face of the Hyatt for way too long!
B. it's thrilling to see a start at — and coverage of — "small-time" mixed-use investors. One day, I hope to be a part of it but, 'til then… thanks for paving the way!
I love the view!
I wish them success in attracting a quality retail tenant!!!
Kudos to a group that has vision and faith in the City that they love. Their willingness to take a chance on making a tired property look alive again is inspiring!
Looking forward to seeing the golddome through clean and shiny windows....
Reopen Genesee Street!
Remove the Hyatt Atrium and Convention Center
Beautiful. Its great to see such 'small time investors' with great ideas shaping our city for the better. After seven plus years in DC, and watching all the cranes and constant development there, I decided it was time to come back home. Hopefully, given some time, I'll eventually be able join this rebirth. BTW, great view!
PS: Is there a site somewhere which would bring other such investors together?
Great story guys I commend you on “Taking Action.”
very interested in how this turns out for this group of visionaries. i am looking forward to following progress. i have great hope for our fair city when i hear stories like this one.