A plan to convert a house at 644 Park Place in Niagara Falls into five market-rate apartments received an incentive package Wednesday from the Niagara County Industrial Development Agency.
Dr. Kalaiselvi Rajendran, a psychiatrist who practices at 600 Pine Ave. in the Falls, said her contractor will start work in two or three weeks on the project, estimated to cost $516,000. The work should be finished in about four months.
Her company, LMR Real Property Holdings, bought the house last year from Catholic Charities of Buffalo for $100,000.
The NCIDA seldom assists apartment-only projects, but deemed this one appropriate because it's located in a distressed census tract, NCIDA attorney Mark J. Gabriele said.
Board member Kevin McCabe voted no because Rajendran expects to create only one full-time and one part-time job.
Rajendran said she plans to renovate her Pine Avenue space to create more apartments, while maintaining her practice there.