LOCKPORT — The sale of Harrison Place Building 3, where the Harrison Lofts mixed use development is planned, has closed.
Greater Lockport Development Corporation sold the building to the Kearney Group, which plans on turning it into a mixed use development with 82 apartments and retail / office space. The deal was closed on Dec 13.
Harrison Lofts has been in the works since January 2019, when Kearney Group president Kenneth Kearney first reached out to the GLDC after the City of Lockport was awarded $10 million in Downtown Revitalization Initiative funding in 2018.
GLDC Vice President Heather Peck said there were delays due to the COVID-19 pandemic and in securing funding. The site sold for $1.05 million.
“Downtown Lockport is lacking in housing options. This is great for the Harrison campus and the City of Lockport, and we’re looking forward to (Kearney) getting started,” Peck said.
The Niagara County Industrial Development Agency is revising its Payment In Lieu Of Taxes agreement with GLDC, releasing 160 Washburn St. and 280 Walnut St. from that agreement.
For Harrison Lofts, the Kearney Group already negotiated a 30-year PILOT agreement with the City of Lockport.
Kearney Group has been participating in the state’s voluntary Brownfield Cleanup Program and working with the Department of Environmental Conservation to design a remediation plan. Cleanup of any contamination stemming from Harrison Radiator Division operations was due to begin as soon as Kearney took possession of the building.