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Buffalo

The owners of the troubled Monarch 716 student-housing complex near SUNY Buffalo State are trying to stave off an imminent foreclosure on their project, asking a judge in Buffalo to give them more time to negotiate "alternative financing" that would pay off their loans and liens on the property. Thomas Masaschi, one of the principals behind Rochester-based developer DHD…

Buffalo

The lender behind the Monarch 716 student-housing complex on Buffalo's West Side has started foreclosure proceedings against developer DHD Ventures of Rochester, seeking to seize the troubled property and even go after DHD's two principals personally. Acres Capital, which acts as an agent and adviser for three insurance companies, filed the first foreclosure paperwork T…

Buffalo

Three more contractors have filed mechanics liens against the Rochester-based developer of a sprawling student-housing complex near Buffalo State College, asserting that it failed to pay more than $140,000 in past-due bills. Oneida Fence of Lancaster filed a lien for $67,453 in the Erie County Clerk's office against Buffalo State Ventures - the company set up by DHD Ven…