WHEATFIELD – The developers of a planned 139-unit senior citizen apartment complex, to be built on Lewiston property now owned by the mother of Town Supervisor Steven L. Reiter, is seeking a tax break from the Niagara County Industrial Development Agency.
Bridgewater Estates LLC, part of Amherst’s Rane Property Management, applied for a 15-year abatement for the 7-acre site on Ridge Road near Model City Road, owned by Marjorie Reiter, 84.
Steven Reiter is listed in the application as a 19 percent owner of Bridgewater Estates, but the supervisor said that’s not accurate.
“My mother will be putting the money into a family trust,” he said.
The trust will benefit the supervisor, his brother and sister and their children, he said. The land has been in his family since 1945, Reiter added.
Anthony J. Cutaia, Rane’s president, said that Bridgewater will be buying the land and that a minority ownership for the Reiters was part of the deal.
The land price is listed in the IDA application at $1.4 million, but the deal hasn’t closed yet. Cutaia said that figure includes the value of the apartments.
Those apartments will be one- and two-bedroom flats in three buildings with market-rate rents of $700 to $1,100 a month, Cutaia said.
The total price tag for the project is $12.3 million, and Cutaia said construction should start on the first building in July or August, with the first apartment available for rent next spring.
IDA attorney Mark J. Gabriele said that there is nothing in the state’s revised IDA law that bars assistance to housing projects with market-rate rents. “In fact, they encourage it,” he said.
Cutaia said, “We think there’s an untapped market in Lewiston. Our studies show seniors are moving to other complexes rather than staying in Lewiston.”
The payment-in-lieu-of taxes, or PILOT, deal would save Bridgewater an estimated $1.8 million, the IDA staff calculated. Those savings are key “to achieving the rents we need,” said Cutaia, whose company owns the Dockside and Fox Creek housing developments on Transit Road in East Amherst.
The Hill-Vue Cafe, a well-known local restaurant, stands on the Ridge Road site. Steven Reiter said that it may move or that it could somehow be incorporated into the project.
The IDA also received a 15-year PILOT application from AMDOR, a new creation of Whiting Group, a Burlington, Ont., company that plans to buy 7½ acres of land in the IDA’s Vantage International Pointe industrial park off Lockport Road in Wheatfield.
It will erect a 20,000-square-foot factory to assemble and paint roll-up doors for fire trucks and other emergency vehicles. LED light systems for fire trucks also will be assembled in the plant.
Whiting has been making roll-up vehicle doors in Canada since 1967, and has a sister company in Akron.
The $1.95 million plant is projected to employ 19 people. The property, sales and mortgage tax exemptions will save AMDOR an estimated $210,000.
The IDA board also approved the transfer of the remaining life of a PILOT on Ulrich City Centre in downtown Lockport to the newly created Lockport Retail Group, a company including the principals of Sinatra & Co. Realty of the Town of Tonawanda. The 15-year PILOT was granted in January 2006.
Owner David L. Ulrich said he was waiting for the PILOT transfer before closing on the sale. He declined to disclose the price.
A deal with a different buyer fell through last year after discovery of an old deposit of dry cleaning chemicals under the parking lot, which has been the site of Lockport’s Friday night outdoor concert series.
The city took ownership of the parking lot from Ulrich in December, and Ulrich is selling only the buildings along Main and Walnut streets.
The IDA application says Lockport Retail would save $28,000 in mortgage transfer tax, thanks to the PILOT.
The 13 tenants pay a total of $390,576 a year in rent, according to an exhibit in the application.