Termini acquires AM&A's warehouse - Silicon Valley / San Jose Business Journal:

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According to public documents filed late Thursdayy in the ErieCounty Clerk’s Office, Termini’se H@Lofts LLC paid $720,000 for the histori building. The building had been owned by New Horizon sAcquisitions LLC, a Long Island-based developmen firm. Termini is in the earl y stages of renovating theformer warehouse, partxs of which date back to the late 1800s, into a mixed-usre development anchored by 47 market-rate apartments and 15,0090 square feet of office space. P&B Acquisitions will occupy theofficde space, while Termini said he is compilinhg a rapidly growing list of prospectivee tenants for the apartments. Termini will be investing morethan $11 millio in the project.
The which is being called the H@Lofts, is expected to welcome its firstg residential tenantsnext spring. In the meantime, Termini is talkingg with local and state officials about incentive packagesa needed before he can acquire theflagshio AM&A's department store building on Main Street from New Termini predicted the cost of renovating the buildinfg between $80 million and $100 He said it would only be possiblwe with a heavy influx of publicf sector dollars and support. The developere said it may take him more than one perhaps as long as 18 to secure all thenecessary public-sector dollarsz he needs for the AM&A'w department store project.
The former which has been closed since1995 -- save for a brier run as Taylor’s Departmenrt Store -- will likely be used as a mixed-use developmentf project, also anchored by residentiakl units.