After years of questions, the fate of the 360 Towne Gardens apartments on Buffalo’s East Side hung over the city like a development cloud. But, with a nearly $22 million sale just completed, the future has become a lot clearer — one of the Towne Gardens’ new owners, Pastor Michael Chapman from St. John Baptist Church stressed the importance of the project.
St. John Baptist Church and its recent development partner, Brooklyn-based BFC Partners bought the complex and immediately pledged not only long term stability, but to start a major $120 million renovation project on all 360 apartment units. Bringing everything from new carpets and paint to appliances.
And, it could lead the way to a $153 million project that adds 300 new apartments along its William Street footprint…