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Buffalo

There's new trouble for the owner of Buffalo's struggling Monarch 716 student-housing complex: A second similar large-scale complex aimed at a collegiate population is now embroiled in foreclosure. DHD Ventures – which is already facing foreclosure and numerous other financial, safety and public relations challenges in Buffalo – is now more than 90 days late on a $31.9 …

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

Troubles are mounting for the out-of-town developer of the Monarch 716 student-housing project on Buffalo's West Side, as the lead contractor on the project and two vendors have filed liens against the owner totaling more than $3.7 million. DHD Ventures, led by Thomas Masaschi of Rochester and Jason Teller of North Carolina, developed the 10-building complex over the la…