March 15, 2018
By Jonathan Epstein
Downtown Buffalo's newest apartment address is now ready for tenants.
After more than three years of work, Amy and Mark Judd will formally open their new Alexandre Apartments on Friday, with 12 new apartments and the Buffaloaf bakery in a seven-story building at 510 Washington St.
The historic former Loew's Theatre Company warehouse building, erected in the 1920s and now renamed for the Judds' son's middle name, offers a mix of one- and two-bedroom units, with two apartments per floor on the second through seventh levels. The two-bedroom units will be 1,100 square feet in size, while the smaller apartments are 875 square feet. Proposed rents range from $1,500 to $2,000.
The first floor of the 19,530-square-foot building also houses Buffaloaf, which is owned by Sandra and Paul Wilkins, and will make the bread for the Wilkins' Raclettes bistro on Main Street, as well as selling to the general public.
The $4.65 million project was financed with a $2 million permanent loan from the Community Preservation Corp. and the state's Common Retirement Fund, administered by the state Comptroller's Office. The Judds also received a $750,000 low-interest loan from the state-backed Better Buffalo Fund, which replaced a short-term loan from the Buffalo Urban Development Corp.'s Buffalo Building Re-Use Project. Other financing includes $1 million in historic tax credits, $142,000 in sales tax breaks through the Erie County Industrial Development Agency, and two $50,000 grants from Buffalo Place and National Grid.