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Moving forward: Mentholatum to welcome first tenants in January

by James Fink
Mon, Aug 21st 2017 03:00 pm
Taken From Buffalo Business First

With construction work nearly 65 percent complete, Ciminelli Real Estate Corp. has started its initial marketing phase of the Mentholatum, an upscale, market-rate apartment complex set for Niagara Street.

The $18 million project is the latest in a wave of private sector-driven developments to take place along the Niagara Street gateway on Buffalo's lower West Side. Collectively, the projects have turned Niagara Street from an overlooked and forgotten roadway into a key, welcoming gateway into Buffalo.

Ciminelli is turning the four-story, 80,000-square-foot former Mentholatum Co. headquarters into a complex anchored by 49 apartments. A side, 4,166-square-foot side building is being renovated for either office or retail tenants. The apartments should be tenant-ready by January.

"We do have people reaching out to us already," said Andrew Schwartz, Ciminelli senior marketing manager.

Ciminelli has created a first floor, two-bedroom model.

In all, the Mentholatum will have 13 two-bedroom, two-bathroom units and 36 one-bedroom, one bathroom units.

The two-bedroom units range in size from 1,163-square-feet to 1,525-square-feet with rents running between $1,785 per month and $2,200 per month.

One bedroom units are running between 846-square-feet and 1,245-square-feet with rents ranging from $1,080 per month to $1,620 per month.

Included in the project are 33 basement parking spots with another 20 outside spots. Ciminelli is negotiating with the City of Buffalo to acquire the rights for nearby Brace Street for another 31 parking spots.

With deep amenities including a main lobby that will also serve as a community center, bicycle storage space and, even, a pet washing station in the basement, the Mentholatum is attracting interest from a wide range of potential tenants.

"It's pretty varied," Schwartz said. "It's really across the board."

Schwartz said Ciminelli found that out last year when its Sinclair apartment building on Washington Street opened and drew a diverse range of tenants.

"The demos were all over the board," he said.

The Mentholatum may not be the only project Ciminelli undertakes on Niagara Street. The company owns two adjoining parcels at 1336 Niagara Street and 1340 Niagara Street respectively, both of which are just south of the Mentholatum.

No plans are set, for now.

"We'll see what the market dictates," Schwartz said.

The Mentholatum is one of several high profile projects in its Buffalo development pipeline including mixed-use projects at 201 Ellicott Street that may include a supermarket and a pair of buildings in the Elmwood Avenue/Bidwell Parkway neighborhood.


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