City of Rochester
News Release
(Wednesday, December 17, 2014) – Neighborhood and Business Development Deputy Commissioner Kate Washington and City Councilwoman Elaine Spaull joined DHD Ventures owners Thomas Masaschi and Jason Teller for a ribbon cutting ceremony to celebrate the grand opening of the Button Lofts apartments and town homes today.
“Jason and Tom and their team at DHD Ventures have done a wonderful job revitalizing this beautiful building and bringing added value to the Monroe Village,” said Mayor Lovely A. Warren. “I want to thank them for making this incredible investment in the city. They are helping us link our past to our future to build a newer, better Rochester.”
Button Lofts was formerly the M.B. Shantz Button manufacturing factory, located at 340 Rutgers Street, circa 1903-1904. This transformed historical building now houses 65,000 square feet of modern lofts and town homes.
“This was a really exciting project for us,” said Tom Masaschi. “Watching this building transform from a run-down warehouse to the nicest loft apartments in Rochester in less than a year has been thrilling, to say the least. We’re really proud of what we have here and we think it’s something the community can be proud of too.”
“The challenge presented by this building is the kind of thing that drives our company,” said Jason Teller. “This building has incredible historical value to the Rochester community.”
The Button Lofts include 36 apartments and three town homes units that range from 700 to 2,200 square feet. Finishes include unique wooden vanities, poured concrete countertops and real wood cabinetry and flooring.
The development costs were about $6.5 million. The County of Monroe Industrial Development Authority provided a Payment in Lieu of Taxes agreement. A historic tax credit was also utilized.
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News Media: For more information, contact Press Officer Jessica Alaimo at 428-7135.