A $70 million plan to put 158 apartments at Silo City is moving ahead, after the Miami-based developer bought the former American Malting Co. facility from longtime owner and businessman Rick Smith.
Generations Development Group – led by Marvin Wilmoth, Anthony Ceroy and Jennifer Ceroy – paid $2.8 million on Friday to acquire 139 Buffalo River Place and 610 Ohio St. from Smith's RiverSullivan Inc., according to documents filed with the Erie County Clerk's office. The purchase came a few days after the Buffalo Planning Board approved a subdivision request that incorporated neighboring lots for parking.
Generations has received city approval for its proposal to convert the vacant malt house into apartments and nearly 40,000 square feet of ground-floor commercial space – in the first phase of what Wilmoth previously called "an exciting and vibrant mixed-use development." Plans for the westernmost building of the complex would also include artists' studios and community space, in a project that could eventually feature more than 400 units.
People are also reading…
The building includes a five-story malt house and an eight-story flour mill section. Work will include restoration of the masonry and window pattern, while introducing light wells into the facility in spaces formerly occupied by machinery and tanks.
Also last week:
- Graphic Controls Acquisition Corp. sold its corporate headquarters and operations facility at 400 Exchange St. to Hawks Mountain LLC, a Buffalo entity, for $12.5 million. The buyer is registered to the offices of law firm Gross Shuman. Graphic Controls is owned by Kyoto, Japan-based Nissha Printing Co. Ltd.
- Pittsburgh-based CleanCare, a provider of linen and uniform service for the health care, hospitality and restaurant industries, paid $3.135 million through its Clean Textile Systems LP to buy Clarus Linen Systems' former 144,605-square-foot manufacturing and fabrication facility at 60 Grider St. and 747 Northland Ave. from 60 Grider LLC of New York City, controlled by former Clarus CEO John Giardino.
