The Buffalo Urban Development Corp. has agreed to sell part of a Riverside-area industrial property that it acquired last year to the adjoining pizza box manufacturer.
Enterprise Folding Box Co., owned by the LoDestro family, will pay $35,000 to purchase one acre of vacant land at 308 Crowley St. from BUDC, as well as a small cinder block box building on another half-acre directly adjacent to its manufacturing facility, said agency President Peter Cammarata.
But that's only part of the larger property, which contains an existing building that is heavily damaged and deteriorating, with collapsed walls and ceilings. So BUDC's demolition contractor first has to "disentangle" the cinder block structure from the rest of the facility, which is coming down, Cammarata said.
The agreement came after BUDC cleared prior liens on the property and worked with the State Attorney General's Office to reduce the value of an easement from $77,000 to $5,000, which BUDC will buy out. Cammarata said he hopes to put the demolition out for bid by the summer.
BUDC bought the 300,000-square-foot former sewing machine and television manufacturing plant last June for $50,000.