KCG Companies in the Press
What once was known as the Chalmers Knitting Mill site will soon be known as “Chalmers Mill Lofts” — a $30 million project to include 130 apartments and 15,000 square feet of commercial restaurant and banquet facility space being operated by local restauranteur, the Lanzi Brothers. The former Chalmers Knitting Mill stopped operating in the 1950s and sub-let portions of the property to smaller companies in the 1970s. Between 2011 and 2012, New York state undertook leveling the facility and environmental remediation. Montgomery County Executive Matt Ossenfort said he believes the revitalization of the site will be a catalyst for others to follow. The site will give the community access to a restaurant, bar, banquet facility, farmers market and jobs all within a walking distance
AMSTERDAM — A $30 million plan to construct a 130-unit apartment building and banquet hall on Amsterdam’s South Side was announced Thursday. The project is dubbed the Chalmers Mill Lofts, and draws its name and some stylistic inspiration from the industrial complex that stood on the site for nearly a century.
Developers released draft architectural drawings and site plans today for a mixed residential and commercial development on the former Chalmers site on the City of Amsterdam’s south side. As part of the project, Luigi Lanzi, whose family owns and operates Lanzi’s on the Lake in Mayfield, NY and two other restaurants, announced his company’s plan to open up a 150-170 seat restaurant and 300 person capacity banquet hall on the site.
At a media briefing this morning, Lanzi, along with representatives of KCG Development, and their partner DEW Ventures, discussed plans for the site with Mayor Michael Villa, County Executive Matthew Ossenfort and MCBDC CEO Ken Rose.
KCG Development was recently named 24th among the nation’s Top 50 Affordable Housing Developers according to an annual ranking by Affordable Housing Finance! 2017 saw KCG close its first three deals as an organization – AP Lofts in Buffalo, NY; The Exchange in Winder, GA; and The Exchange @ 104 in Fond Du Lac, WI.
With construction on the above projects progressing well, KCG looks to build on its momentum from last year to further expand our impact on the communities we serve.
Construction Today, a publication focused on highlighting best practices and emerging leaders in the North American construction industry, published an article featuring KCG Development.
A “golden brick” ceremony was held Wednesday afternoon at the site of the former Great Atlantic and Pacific Tea Company warehouse in Buffalo’s Larkinville neighborhood. The building, built in 1910, is being converted into a mixed-income apartment complex.
What is being named the AP Lofts at Larkinville will feature 147 mixed-use units. The building will also include a professionally-managed leasing office, community room, business center, fitness center, outdoor patios, green spaces and climate-controlled indoor parking.
BUFFALO, NY — Buffalo’s Community Transformation Continues With The Development Of The AP Lofts At Larkinville.
Residents living near Swan Street, Jefferson Avenue and in the Larkinville District joined New York State Homes and Community Renewal, State and City of Buffalo leaders, including Mayor Byron W. Brown, KCG Development, and project partners to celebrate the construction of the AP Lofts. The 147-unit mixed use development is the adaptive re-use of the historic former Great Atlantic & Pacific Tea Company warehouse at 545 Swan Street that was built in 1910.
INDIANAPOLIS, IN — KCG Development, LLC recently created sister-company KCG Construction, LLC to provide general contracting services on its multifamily portfolio and has hired Russell Maynard to serve as President.
In his role, Russell will be responsible for managing, overseeing, and directing all of the construction activities for KCG Construction.
WINDER, GA — KCG Development in partnership with Gardner Capital closed on the financing for The Exchange, a 130 unit mixed-income apartment community located at 839 Exchange Circle in Winder, Georgia.
The Exchange will be The City of Winder’s newest apartment community and will consist of five three-story garden style buildings and two two-story townhomes of one, two and three-bedroom apartment homes.
BUFFALO, NY – On May 24th, KCG Development closed on the financing for the development of AP Lofts Apartments, a 147-unit mixed-use redevelopment of the former Atlantic and Pacific Tea Company warehouse located at 545 Swan Street, Buffalo, New York.
SARATOGA SPRINGS — The former Saratoga Diner on South Broadway could be demolished to make way for 110 units of workforce housing. “It’s prominent, and it will be a transformative catalyst,” said Bill Teator, a local project partner for KCG Development LLC, of Indianapolis.
FOND DU LAC, WI – On May 8th, KCG Development closed on the financing for Exchange @ 104, a 48-unit historic adaptive re-use project located at 104 S. Main Street, Fond du Lac, Wisconsin.
Originally constructed in 1923 by Commercial National Bank, the eight-story office building will be converted into apartment units for families and bring much needed housing options to downtown Fond du Lac.
The Amsterdam Common Council unanimously approved a resolution Tuesday authorizing the mayor to sign a Letter of Intent with KCG Development for a mixed-use project on a 3.31-acre property encompassing the former Chalmers site.
The agreement generally commits the city to deal exclusively with KCG Development for the purchase and sale of the property for an initial 18-month period with an option to renew the agreement in 12-month increments.
A collection of warehouses encompassing an entire city block near downtown Sheboygan are slated for redevelopment by KGC Development that could include housing, a marketplace and a brewery.
Old Textile Mill in Utica’s Brewry District to be Transformed Into Loft Apartments. KCG Development is currently in the process of purchasing the old mill, and expect to close on the sale by mid-April.
Indianapolis-based KCG Development is looking to transform the three-building complex at 811-827 Court St. into about 131 apartments. The company has the property under contract and hopes to close on a deal this fall, said Anthony Ceroy, vice president of development with the firm.
The 28 developments receiving LIHTC reservations include:
- Exchange @ 104 in Fond du Lac: KCG Development’s adaptive-reuse project will include 48 units for families
The Indianapolis-based development group that is planning a $39 million transformation of the century-old A&P Warehouse into the AP Lofts at Larkinville hope to begin work on the Buffalo project by mid-summer.
KCG Development LLC has all but cleared its final hurdle, having received a warm reception from the Buffalo Planning Board.
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