The developers plan to transform the 15-storey, 182,000 square feet building to 40,000 square feet of Class A office and commercial area in addition to 113 loft apartments. About 7,000 square feet of interior, mall-style retail portion on the ground floor will be developed into street-oriented commercial area with the Class A office area occupying the second, third and fourth floors. Loft apartments will start on the fifth level. The penthouse-level commercial area is expected to be retained.
Some of the historic interior and exterior characteristics of the building will be restored while being equipped with advanced mechanical, electrical and plumbing systems to enhance efficiency. Work on the project is expected to commence in 2011 and be completed by 2013.
The building opened in 1926 as the Lincoln Alliance Bank and was designed in a Renaissance Revival style by the McKim, Mead, White architectural company and Rochester-based architect J. Foster Warner.
