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Developer pays $6 million for Amherst residence for nuns

Tzetzo Cos. has completed its long-anticipated $6.1 million purchase of the St. Mary of the Angels regional house in Amherst, public records show.

Tzetzo Cos. plans to convert the building into senior housing, boosting the number of units from 73 to 99 while allowing the nuns who now live in the home to stay.

The developer on Tuesday bought the 7.6-acre property at 201 and 199 Reist St. through its Reist Street Holdings. The purchase price wasn't previously disclosed.

The Sisters of St. Francis of the Neumann Communities moved to Reist Street from the St. Mary of the Angels Motherhouse on Mill Street in 1999. The order is downsizing its properties as its members age.

The Town Board in February rezoned the property after Tzetzo Cos. agreed to restrictions on future development at the site.

The Amherst Industrial Development Agency board in March granted $1.4 million in tax incentives to the $13.1 million project, known as Fredonia Place of Williamsville. Work was set to start in the spring.

Developer of senior housing in Amherst granted $1.4 million in tax breaks

 

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