Uncertain Future for Historic Buffalo F. Scherer & Sons Furniture Building

A historic and gateway building that leads into downtown Buffalo has been acquired by a real estate development group run by former Rep. Chris Jacobs. Jacobs confirmed his group, 124 Genesee LLC, paid $700,000 for the recently-closed F. Scherer & Sons furniture buildings at 124 Genesee St. in the city’s central business district.

Jacobs stepped in after fellow developer Douglas Jemal decided not to buy the buildings.

Jemal said he wanted to focus on his Electric District cluster of buildings along Ellicott Street in downtown Buffalo.

Jacobs, through his Avalon Development, owns and has developed a number of buildings in the central business district.

“This opportunity just came up out of the blue,” Jacobs said. “As I walked through the building, I realized it was in great shape and has so much potential.”

The four-story, nearly 24,000-square-foot building dates back to the late 1800s and has always been home to a furniture retailer, including Scherer’s, which ended its 127-year, fifth-generation run earlier this year.

Jacobs said his initial inkling is to focus on a mixed-use redevelopment with apartments on its upper floors and some level of retail at the street level.

“I want to play off what’s already been developed along that part of Genesee Street and downtown,” Jacobs said. “It is actually quite an exciting and vibrant part of downtown.”

Besides Jemal’s Ellicott Street/Electric District development plans, Frank Chinnici and his Legacy Development firm are also working on plans for a series of buildings he owns along the Elm-Oak corridor, Genesee Street, and Ellicott Street.

First up, Jacobs wants to secure a historic designation for the building and then seek historic tax credits to help finance the redevelopment effort.

Once an architect is hired and plans are fine-tuned, Jacobs said he will begin the city approval process for the buildings.

“My goal is to move as quickly as we can on this,” Jacobs said. “I know just how important this building is to Buffalo."