Business First
Tuesday, October 30, 2012
By Jim Fink
Ellicott Development Co. has increased its downtown Buffalo real estate portfolio by acquiring a pair of Franklin Street buildings from restaurateur David Forness.
The properties include the former Buffalo House restaurant that Forness ran for many years.
According to documents filed in the Erie County Clerk’s office, Ellicott Development — through its Huron Group Inc. affiliate — paid $375,000 for the properties at 172-178 Franklin St. and 1 Bean Alley. The properties had been owned by Forness’ DCF LLC and D&M Properties LLC.
Both buildings sit almost across the street from the Buffalo Niagara Convention Center and next to the Crosby Building that Ellicott Development has owned for many years. The two buildings are currently vacant.
William Paladino, Ellicott Development president and CEO, said a number of plans are being considered for the buildings, which collectively total approximately 10,000-square-feet.
“It could be any number of scenarios,” Paladino said. “We bought because they were a good deal.”
