A little vacant lot in the Allentown historic district that sits directly across from University at Buffalo's new medical school is becoming a magnet for offers from real estate developers.<\/p>\n
The grassy plot at 942 Main St. which has an overgrown community garden, a bench and a decorative stone wall that proclaims \"Allentown\" is worth only $29,861, according to city property records.<\/p>\n
But because of the uptick in developer interest surrounding the Buffalo Niagara Medical Campus and nearby neighborhoods, an owner of the 32.5-foot-by-118-foot parcel says he's received offers hovering in the $500,000 range.<\/p>\n
Dino Scouras, the co-owner of the Towne Restaurant in Allentown, co-owns the lot with his brother and sister.<\/p>\n
In the last two months, the siblings have received three offers for the vacant lot, said Scouras.<\/p>\n
\"I'm not surprised by the interest,\" said Scouras, who owns it along with his brother Paul, and sister, Eleni Konstantopoulos. \"That corner is jumping out at everybody.\"<\/p>\n
Scouras said the family is open to offers on the parcel, along with another vacant corner lot it owns at Park and Allen streets which he can see kitty-corner through a window at the Towne restaurant, a 46-year neighborhood fixture at Allen and Elmwood Avenue.<\/p>\n
\"We're not sure if we'd want to build to suit, or sell the property outright,\" Scouras said of the 942 Main St. property. \"We're open to offers.\"<\/p>\n
Asked if the family would consider developing it for its own business interests, he said: \"We're keeping all our options open.\"<\/p>\n
For years, the corner lot has had four large, white stones to provide a unique, decorative element to the corner. The planting bed and decorative stone wall were created by University at Buffalo School of Architecture and Planning students, guided by professor Brad Wales.<\/p>\n
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More: A little vacant lot in the Allentown historic district that sits directly across from University at Buffalo's new medical school is becoming a magnet for offers from real estate developers. The grassy plot at 942 Main St. Continue reading
\nVacant corner lot by new UB medical school drawing developers' interest - Buffalo News<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"