Real Estate & Development: Why Douglas Jemal is buying on Main Street | Business Local

Now he paid $1.13 million to acquire 515 and 521 Main from downtown investor Roger Trettel. The building at 515 Main is anchored by Noble Root Wine & Spirits, while 521 Main’s first floor is leased to Misuta Chow’s restaurant. The rest of the space is vacant or under short-term leases.

In all three cases, he plans to maintain retail space on the ground floor and put apartments upstairs, for a total of about 30 residential units right across the street from the hotel.

“That’s close to 50 people,” he said of the anticipated tenants.

“I want to make an interactive downtown, and you’re not going to do that without having residents living there, people coming to the convention center,” Jemal said. “I didn’t come to Buffalo just to buy Seneca One. Once I got involved in the fabric of the city, I got involved heart and soul, and it’s the legacy that I want to leave.”

He’s likely not done there, as ever still has aspirations to do more on that block, which is a short distance from Seneca One tower and the Simon Electric properties that he recently acquired on Ellicott Street.

• Main Street building changes hands