As a prelude to its massive renovation of a century-old Buffalo factory, the development team behind the $35 million project has been quietly amassing adjoining parcels.
Sam Savarino, one of the development partners in 500 Seneca Street LLC, confirmed that his group has been buying nearby homes and parcels near the proposed project, mostly to accommodate parking.
According to documents filed in the Erie County Clerk's office, 500 Seneca Street LLC paid $7,000 for a vacant home at 499 Swan Street that had been owned by the City of Buffalo. The home will be razed to make way for a parking lot needed for the Seneca Street project.
Savarino and his partners, FFZ Holdings LLC, have acquired the former F.N. Burt Co. plant, with plans to renovate it into a mixed-use Class A office and back office complex. The six-story building, which dates back to the early 1900s, has 330,000 square feet.
Among the redevelopment plans are bringing a multi-story atrium into the center of the building.
The renovation work could start later this year.