NORTH TONAWANDA, N.Y. —A prime piece of real estate in North Tonawanda's downtown area will now be getting new life after a local developer bought it for just shy of half a million dollars.
"The minimum bid was $375,000 but we were not expecting it to keep climbing up that far. But that's a good sign," said Laura Bernsohn, the Lumber City Development Corp. planning and development specialist. "It's positive for our city that shows that people really are going to be vested."
The property, 54 Webster Street, is the former home of the embattled North Tonawanda History museum.
The winning bidder of Monday's auction said she was just the agent for the LLC. While local leaders are still working to learn more about the buyer, they say they anticipate it will be revamped into a mixed-use space.
"That building is a key anchor in our downtown. We really hope that they have a good plan that is an exciting project that will drive people to our downtown and increase tourism," said Bernsohn.
"I am excited because whoever purchased that property is walking into our downtown district which has been booming with business and we have so much money going into it," said Donna Braun, (R) North Tonawanda Alderwoman - 2nd Ward.
The history museum has been moving for several weeks already and they're almost completely out of that location on Webster Street. They are now moving into their new home on Oliver Street, signifying a whole new beginning.
"We're a little bit farther away, although this is a part of the city that is being redeveloped and there are some new businesses that are located further out than we are, so we expect a good deal of traffic," said Howard Roeske, the history museum's executive director.
A group of museum benefactors bought the new building for the sole use of housing North Tonawanda history. In return, the museum will be paying rent.
While there is still a lot of repair and renovating to go, they're still on track to open in September.
"It'll be a great learning experience about the city," Roeske said. "We do have a lot of people who are relatively new to the city and we think a visit to the museum will help them understand how the city developed and why some of the things that are here are here and what's happened to them."
One of those things — the only two bowling alley lanes left in the city— will be preserved right inside the museum.
North Tonawanda History Museum by the Numbers:
- Sold 7/2/18 for $499,500
- Amount due upon signing was $49,950
- Previously sold in 2009 for $675,000
- Current assessed Value: $216,000
- Assessed Value in 2008: $492,000
- Because it will no longer be tax exempt as a non-profit, the new owner will have to pay the pro ratas for the last year and a half, which equals $14,835 total