Frizlen Group Dev., Common Bond celebrate Mattress Factory opening; BRD Construction is project general contractor.

February 06, 2018 - Upstate New York

Buffalo, NY Governor Andrew Cuomo celebrated the opening for The Mattress Factory, a new mixed-use project on the city’s East Side. The $6.5 million development price tag for The Mattress Factory, which has been transformed into 34 market rate apartments and office space for Preservation Studios, was completed with a $500,000 loan from the Better Buffalo Fund. The Better Buffalo Fund is a vital component of the Buffalo Billion initiative, and is dedicated to projects that revitalize neighborhood commercial districts and encourage density and growth along transportation corridors.

“With the opening of the Mattress Factory, the city of Buffalo is poised to continue its economic renaissance while preserving the historic significance of this facility,” governor Cuomo said. “This historic rehab on Buffalo’s East Side will help to further transform this neighborhood into a vital economic engine for Western New York.”

Construction of the project at the 170 Florida St. facility began in November 2016 and concluded in December 2017. BRD Construction is the project general contractor.

According to Frizlen, leasing has been steady since it began in November 2017. The two-story building is in the Hamlin Park neighborhood, an area recently experiencing rejuvenation. The building has been repurposed under the federal Preservation Guidelines and is now on the National Register for Historic Buildings. All historic features such as windows have been retrofitted or replaced.

“The Better Buffalo Fund, initiated as part of the Buffalo Billion, recognizes the critical importance of vibrant neighborhoods to Buffalo’s economic resurgence through revitalized storefronts and restored properties, especially on the city’s East Side,” said lieutenant governor Kathy Hochul, who attended today’s ribbon cutting. “These beautiful apartments will bring new life to this corridor, and this collaboration between our administration and private sector partners demonstrates our collective investment and faith in the new Buffalo.”

The conversion of the former Otis Bed Company building, which made and sold mattresses in the late 1900s, is one of the first significant rehab projects on the city’s East Side in recent years, it is also one of the largest private-sector projects in the Hamlin Park Historic District.

This project was developed and completed by Frizlen Group Development and Common Bond Real Estate LLC, both located in Western New York, with the assistance of a $500,000 loan from the Better Buffalo Fund.

Empire State Development president, CEO and commissioner Howard Zemsky said, “The Better Buffalo Fund is one of our most effective tools for development projects in the city of Buffalo. The Mattress Factory project represents a real opportunity for growth, with a great location near Hamlin Park and Canisius College, as well as a major transit corridor, these new units will undoubtedly be in high-demand.”

City of Buffalo mayor Byron Brown said, “I thank governor Andrew Cuomo for allocating $500,000 of the Better Buffalo Fund for the $6.5 million mixed-use redevelopment on this 1911 building in Buffalo’s historic Hamlin Park neighborhood. Congratulations to The Mattress Factory on your ribbon cutting today, and thank you to all involved in the project who are committed to continuing the success we’re seeing citywide.”

Jason Yots, principal of Common Bond Real Estate LLC, said, “Thanks to historic tax credits and the Better Buffalo Fund, we were able to convert an underutilized factory building into a vibrant mixed-use project. Without those resources, our project would have been infeasible.”

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