Iskalo Development Co. proposing $8.63 million development plan for mixed-use project at site of former Kane-Doyle Jeep dealership
January 27, 2009 - Brokerage
According to Iskalo Development Co. officials, the company confirmed it wants to demolish the existing buildings that comprised the former Kane-Doyle Jeep dealership and replace them with a series of multi-tenant buildings.
Iskalo was one of the first companies to file an incentive request with the Erie County Industrial Development Agency under an adaptive re-use program approved in December. Iskalo is seeking tax breaks for its $8.63 million development plan for a mixed-use anchor along a busy Delaware Ave. stretch in the Village of Kenmore.
The ECIDA program targets vacant and other properties that can be redeveloped. The agency will consider the proposal at a Feb. 6 public hearing and then at a Feb. 9 board meeting.
"The IDA program is perfect for projects like ours that sit on a main thoroughfare but are expensive to complete," said David Chiazza, Iskalo executive vice president.
Tentative plans call for replacing the two-story, 20,448 s/f dealership building with a similar-sized structure. A second, 11,000 s/f building will be razed and replaced, according to Chiazza.
Formal plans will be submitted to the village of Kenmore in the coming weeks.
Chiazza said he would like to demolish both buildings this year and have the first new one constructed and ready for occupancy within 12 months. No tenants have been signed for either building.
Iskalo bought the Kane-Doyle properties last fall, a few months after the dealership sold its last Jeep. The company paid $950,000 for the two properties, according to documents filed with the Erie County Clerk's Office.
The deal was brokered by Alan Hastings of Hastings Cohn Real Estate.