Update: ZeptoMetrix Purchases 878 Main Street
While County Executive-elect Chris Collins is preparing to move into the Rath Building, he and business partner Jim Hengst are also preparing to start renovation work at 878 Main Street. The co-owners of ZeptoMetrix Corporation wrapped up the purchase of the City-owned vacant mansion on Thursday. ZeptoMetrix, a biotechnology firm headquartered next door at 872 Main Street, paid $70,000 for the long-vacant structure.
Silvestri Architects prepared renovation plans for the three-story, 5,010 sq.ft. mansion which will become Zepto's corporate offices. The rear portion of the first floor will be converted to parking and the second floor will provide an additional 1,000 sq.ft. of office space for the growing company. By preserving a significant portion of the building, the company will be eligible for historic preservation tax credits.
“We're moving ahead on the roof first. It's going to be a complete tear-off down to the rafters,” says James C.D. Hengst, Ph.D., President and Chief Executive Officer of ZeptoMetrix. “After the roof is done we have some structural work to do in the basement to reinforce the center of the building. The footers and supports are sorely lacking. After all of that is done, the rest of the project should go pretty smoothly.”
”The employees have nicknamed 878 'The Money Pit.' As much as I loved that movie I really hope 878 goes a little bit better than that,” adds Hengst. “Chris and I had originally put the estimate at $500,000 but now it looks like more of an $800,000 project.”
“Chris and I are both after a building that says, ‘ZeptoMetrix is a very successful company.’ This is going to be fun,” says Hengst.
The firm’s existing facility at 872 Main will also be remodeled. The building’s facade will return to its original look when it was built in the 1920’s for retail and commercial use.
ZeptoMetrix was selected by the City to redevelop the vacant Allentown mansion in 2006 after soliciting proposals from developers and would-be owners. 878 Main will join other recent investment on the high profile Allentown block including The Granite Works project to the south and Dan Campieri's 888 Main Street restaurant closer to Allen Street.
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gaustad
This is a great project with a great implications for the city. It is nice to have an honest business person running the county. Hopefully we can start to see some positive changes. Seems as though things are progressing block by block.
To all my critics, the medical corridor is real business with real potential to realistically turn Buffalo around. We should all embrace it.
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Willie1
Let's hope that the 20's building is fitted with clear glass, that provides transparency to the interior spaces. These kind of storefronts are important to the vibrancy or lack of to the streetscape. People make the street, either inside, outside, or hopefully both. People make the street safe. Pedestrain foot traffic connecting visually with store keepers & customers of yesteryear, or the office workers of today. Let's see in & let them see out !!!
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hamp
I agree. Let's make sure the glass does not have the heavy tint that is shown in the rendering. Dark glass detracts from the streetscape and undermines the success of a renovation project. If the tenants don't want to be seen, they can use blinds or shades inside.
This is a great project.
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benfranklin
There have been a few threads recently discussing purchasing property from the city. The information in this post provides some insight into that process. I'm a little surprised that the price was that high. This building has been empty for an extended period. Granted, the area is picking back up, but look at the investment that needs to go into it. Clearly that's a figure that's out of most mom/pop rehabber's budget. if the city expects to get $70,000 for a vacant structure, I can see why so many are being taken down.
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WCPerspective
Two points of clarification: 872 Main is primarily lab space and will remain so. The property was the subject of an RFP process after more than one buyer expressed an interest in it; the City wanted to see what ideas were brought to the table by potential buyers/users. In the end there were two: Zepto and a residential/commercial conversion that would have featured Delish! as a tenant. It is an expensive and lengthy process for those interested- crunching numbers, retaining architects, preparing a proposal, etc. RFPs make sense for commercial properties, particularly well-located such as this one, and prime vacant sites (i.e. Waterfront Village). This is a different animal than say a residential home on Rhode Island that should be sold for $1 to capable owners. Or should HAVE been sold.
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Andrew
I agree with Gaustad. The medical campus in conjunction with UB could be what single handedly turns Buffalo into a cutting edge medical research city bringing in thousands of new people and jobs. We should have planners working around the clock trying to make this happen.
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Joshua
This will be a great rehab of a Second Empire house. Go to: Other Second Empire buildings . D'Youville College's Admin building is not included but I believe it is the same type.
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Joshua
Sorry about the link above: here it is: Second Empire buildings
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BROKEEPSBLOCKINGME
Waiting for the DARTH VADE GLASS comments...in 3...2...1...
I like the Black Glass. But the reality is it is meant to keep thieves out...shatterproof tempered glass
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