A seven-story structure
located between Eagle and Clinton Streets, redeveloped by developer Jake
Schneider, could be going condo. Warehouse Lofts at 210 Ellicott Street
currently features 30 upscale loft apartments and commercial space.
Warehouse Lofts is the
result of a $7.5 million conversion of the former Seneca Paper Co. warehouse.
Originally constructed in 1913, the seven-story building is one of the first
concrete frame warehouse buildings in the United States. The building is a
contributing structure in the J.N. Adams – AM&A’s Historic District.
Since the developers
utilized Historic Tax Credits (HTC) to help offset the cost of rehabilitation,
the building could not be utilized for condominiums until the five-year recapture
period had ended. The conversion to condos would likely be happening next year
at the earliest, but is dependent on the approval of the state attorney
general.
The property features six
units per floor on floors three through seven encompassing 17 two-bedroom and
13 one-bedroom units. Apartment sizes range from 950 to 1,600 square feet. The
apartments currently rent between $1,050 and $2,000 per month.
The condos would be priced
around $207 per square foot and current apartment residents would have the
option of buying the unit they now occupy. If the change to condos goes
forward it would take place over several years to ensure that current residents
would be able to stay until their units are sold. Schneider has assured the
residents that no one would be getting kicked out.
All apartments are spacious
with high ceilings, quality finishes and city views. Every unit includes a
walk-in laundry room with a washer and dryer provided, substantial closet
space, exposed structural concrete loft ceilings, hardwood floors, fireplace, a
large soaking tub, and a fully-equipped kitchen with stainless steel
appliances, granite countertops and maple cabinets. Two-bedroom units have two
full bathrooms. There are a total of sixty, gated parking spaces, fourteen of
which are covered, and a basement storage area.
“We feel the market is right
now and that this will be an affordable option,” Schneider said, “We hope the
public will embrace this historic project.”
Another building owned and
rehabilitated by Schneider utilizing HTCs, 136 North Division Street, could be
changing its tenant model as well. The Lofts@136 were geared towards students,
specifically from ECC since the downtown location is so close. Although they
have had some success with the student model, it didn’t quite meet expectations
and the building will shift to a normal tenant base. It will be renamed the AC
Lofts, referencing the original company in the building, Alling & Cory.
Interior
photos by Katie Schneider Photo.