Ex-Statler owner work done in England

November 2, 2011 Updated Nov 2, 2011 at 7:27 AM EDT

By James Fink , Business First

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Ex-Statler owner work done in England

November 2, 2011 Updated Nov 2, 2011 at 7:27 AM EDT

A Manchester, England apartment building that was partially completed by failed Buffalo developer Bashar Issa is finally finding a new life.

The former Issa Quay, a high-rise apartment complex that Issa was attempting to complete in Manchester's Piccadilly neighborhood, has been re-branded as the Max Serviced Apartments by its new owner, Realty Estates - a British residential developer.

Realty Estate has completed building out the 85-apartment complex and started an aggressive marketing campaign for the units. Interest in the apartments has been growing.

"Demand for serviced apartment accommodations has remained strong throughout the UK, and Manchester is no exception," Shaun Skidmore, CB Richard Ellis director of specialist markets told the Manchester Evening News. "We saw significant interest in the property as a result a new lease was subsequently negotiated with Max."

Issa stopped work on the project in 2008 because of mounting legal and financial issues both in Manchester and with his ownership of the Statler Towers in downtown Buffalo. The Statler was ultimately place into involuntary Chapter 11 protection and sold earlier this year to Mark Croce, who has renamed the 18-story Niagara Square landmark Statler City and has since brought the building back to life.

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