STEL Director of Real Estate Development Steven Ald provides update on Gateway Lofts Project to the Jamestown Zoning Board of Appeals (February 4, 2026)
The Gateway Lofts Project is expected to begin construction later this year.
The project came before the Jamestown Zoning Board of Appeals for an extension of two variance requests Wednesday. One variance is regarding the number of proposed parking spaces and one regarding proposed automotive use setbacks on the parcels associated with the project on Water Street. Both variances had been granted back in 2020 and were granted an extension in 2021, 2022, and 2023.
The $77 million project to rehabilitate the former Chautauqua Hardware building on Water Street into 110 units of affordable housing is being done by Southern Tier Environments for Living (STEL). The project also will include the creation of playground areas, walkways, picnic areas, green space and other related site improvements.
STEL Director of Real Estate Development Steven Ald said STEL has submitted their application with the City of Jamestown for a building permit in December 2025. He said it takes approximately 12 weeks for the permit to be issued.
Ald said STEL is also working to finalize its financing with the New York State Housing Finance Agency. They anticipate closing on the funding with the State HFA in the Fall and starting construction in November. He said it will take 16 months to complete the project. That would place the project completion sometime in late Spring 2028.
Ald added they are diligently working on entering into a payment-in-lieu-of-taxes (PILOT) agreement with the city, which is a condition of the site plan approval.
The project will next appear before the Jamestown Planning Commission on Tuesday, February 17 for a site plan approval renewal.
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