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Ulrich Plans to Sell

by TSchmitt
Fri, Oct 14th 2011 08:48 am

In Lockport, the owner of the Ulrich City Centre, David Ulrich, said he intends to sell the downtown commercial area where Lockport's Friday night summer concerts are held. The apparent buyer is Timothy Gelder of East Amherst, an executive at Barden & Robeson Corporation, the Middleport prefabricated housing manufacturer. According to Ulrich, the deal is not yet complete even though the Niagara County Industrial Development Agency transferred the tax break on the complex to a holding company created by Gelder called175 Walnut St. LLC. Ulrich has stated that the 30,000 square foot complex, which hosts a mix of resturants, stores and professional offices, has not been profitable since it opened in 2005. Ulrich has done business with Gelder before. Gelder bought Lockport Professional Park, a cluster of one-story professional office buildings off Davison Road, from Ulrich several years ago. Gelder later resold it.

 

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