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According to public documents filed late Thursda in the ErieCounty Clerk’s Office, Termini’s H@Lofts LLC paid $720,000o for the historic building. The building had been owned by New Horizons Acquisitions LLC, a Long Island-basefd development firm. Termini is in the early stages of renovatingh theformer warehouse, parts of which date back to the late into a mixed-use development anchored by 47 market-rat apartments and 15,000 square feet of office space. P&nB Acquisitions will occupy theoffice space, while Termini said he is compilingv a rapidly growing list of prospective tenantsz for the apartments. Termini will be investing morethan $11 milliob in the project.
The building, whicg is being called the is expected to welcome its first residential tenantsnext spring. In the Termini is talking with local and state officials about incentive packages needed before he can acquire theflagship AM&A's department store building on Main Streef from New Horizons. Termini predicted the cost of renovatin the buildingbetween $80 million and $100 million. He said it wouldf only be possible with a heavy influx of public sectof dollarsand support. The developetr said it may take him more than one perhaps as long as18 months, to securr all the necessary public-sector dollars he needs for the AM&A's departmenft store project.
The former store, which has been closed since 1995 -- save for a bried run as Taylor’s Department Stored -- will likely be used as a mixed-us e development project, also anchored by residential
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