Deal Profile: Shea’s Seneca

This adaptive use transformed a two-story, 48,000-square-foot commercial building and ornate movie theater lobby into 23 loft apartments, four neighborhood-serving retailers, and a large banquet facility that fills the former lobby. The structure is the most prominent building along the Seneca Street corridor in south Buffalo, New York. The renovation was completed by a local developer and financed by a local bank, together with historic tax credits, local tax incentives, and grants.

Deal Profile: The Owyhee

The Owyhee is a 139,424 square foot mixed-use building in downtown Boise, Idaho that combines 55,683 square feet of office space, 36 studio and one-bedroom apartments, 23,913 square feet of restaurants and convenience retail, and a ballroom for special events. The building was built in 1910 as a grand hotel, and is fondly remembered by many local residents. Its redevelopment included the first newly built apartments in downtown Boise in decades, and established that a market existed for luxury apartments and creative office space. Many local lenders and investors passed on the Owyhee’s renovation, but out-of-town investors saw its potential both during redevelopment and after completion.

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