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A woman-owned development group has purchased a faded historic seven-story masonry building in downtown Buffalo, with plans to convert the former warehouse into loft apartments.

Alexandre Apartments LLC, led by Amy E. Judd, paid $340,000 to buy the former Loew’s Theatre Company warehouse at 510 Washington St. from John Barry.

Judd now plans to preserve, restore and renovate the narrow 19,500-square-foot building, which was designed by architect Thomas Lamb and built in 1920, into 12 luxury apartments, with commercial space on the first floor, according to brokerage firm CBRE, which handled the deal for Barry.

The adaptive re-use project will also use advanced “clean” technologies to power and service the building, including the use of solar panels in the design. Judd plans to seek LEED certification for the project, CBRE said.

Construction is expected to start in the fall and be completed by the fall of 2015.

email: jepstein@buffnews.com