- About Us
- Our Work
- Our Places
- Our Impact
The restoration of the historic Asbury Delaware Church in downtown Buffalo was spearheaded by Righteous Babe Records and its principals, recording artist Ani DiFranco and Scot Fisher.
The total development cost was $13.7 million, with HSBC Bank providing $7.45 million in equity investment. With support from LISC and a significant allocation of New Market Tax Credits provided through our subsidiary, the New Market Support Corporation, the Church was reborn as a mixed-use facility housing a concert space, lounge, arts center and offices. The restoration provided a 1,000 seat public performance space, a new home for the Hallwalls Contemporary Arts Center, and a hub for the local visual and performing arts community.
The Asbury Delaware Church was the winner of the 2005 New York Historic Preservation Award for Private Sector Achievement.
Location: Delaware Avenue, Downtown Buffalo
Total Commercial Space Created: 30,000 square feet
Total LISC Investment: $9.2 million in New Markets Tax Credit investment
The restoration of the Larkin U Building capped a year of LISC investment and collaboration with the Larkin Development Group and Old First Ward Community Association, transforming a once-booming manufacturing district into a vibrant commercial district.
Originally built in 1893 for industrial scrap recycler D. Ullman Sons, the “U” Building later served as a Larkin Soap factory building for 29 years. It also housed McDonald products and the Par Foam Products Factory. With $8.5 million in New Markets Tax Credit support from LISC, the partners were able to restore this vacant manufacturing facility into a headquarters space for First Niagara Bank, also creating and preserving 350 jobs in the process. First Niagara also provided financing for the $14 million project.
In addition to the “U” Building, LISC support helped further additional projects in the Larkin District. LISC provided the Old First Ward with funding for staff and consultant services that garnered a $500,000 grant from the New York State Main Streets Program. That funding was used for streetscape improvements on Seneca Street and the rehabilitation of three vacant mixed-use properties, the Schaeffer and Kamman Buildings and the Swan Lounge.
Location: 239 Van Rensselaer Street, Larkin District
Total Commercial Space Created: 54,000 square feet
Total LISC Investment: $8.5 million in New Markets Tax Credit investment
Partners: First Niagara Bank, Larkin Development Group