Downtown Buffalo's oldest high-rise is getting a new purpose. McGuire Development Company is converting the historic Dun Building at 110 Pearl Street into 36 market-rate apartments in a project valued at approximately $10 million, according to an application to the Erie County Industrial Development Agency (ECIDA) filed in late 2025. The 10-story, circa-1893 building — designed by the firm Green & Wicks as offices for what would become Dun & Bradstreet, and recognized as Buffalo's first high-rise — has sat largely vacant for the past five years. That is about to change.

What Is Being Built

The project is a full gut renovation of floors 2 through 10. Each of the nine upper floors will be converted to four apartments each, for a total of 36 units. The mix includes studios, one-bedroom, and two-bedroom layouts. James McGuire, company president, told WBEN that rents are projected in the range of $1,400 to $2,200-plus per month — market-rate, not subsidized. Four of the 36 units will be designated below-market rate, contributing to the downtown core's affordability. The ground floor will remain as commercial space for an office or retail tenant. The basement-level restaurant, K:Dara Noodle Bar, will continue operations throughout construction and beyond.

Construction scope includes utility upgrades throughout, roof replacement, all-new MEP/FP (mechanical, electrical, plumbing, fire protection) systems, and elevator repair or replacement. One of the most notable exterior elements: the reconstruction of the building's ornate cornice, which was removed in the 1980s. Restoring this feature is central to the architectural vision led by Carmina Wood Design.

The Building's History and Condition

The Dun Building is approximately 36,000 square feet on a 0.812-acre site — the building footprint occupies the entirety of the site. The 10-story structure represents Buffalo's architectural and commercial history at the turn of the last century, designed as offices for what would later become the global credit-reporting firm Dun & Bradstreet. Despite its historical significance, it has seen declining office occupancy for over a decade, with tenants vacating as leases expired, leaving the building largely vacant for approximately five years prior to McGuire's acquisition.

McGuire Development acquired the property in October 2025 for $1.85 million from Priam Enterprises. The ECIDA tax incentive application was filed in November 2025, listing a total construction cost of $9,977,428. Buffalo's Preservation Board reviewed the renovation plans in December 2025, and the project has been reported to have received positive reception for its approach to maintaining historic character.

Project Data

• Address: 110 Pearl Street, Buffalo, NY 14202
• Developer: McGuire Development Company (Cheektowaga, NY)
• Architect/Design: Carmina Wood Design
• Total construction cost: $9,977,428 (ECIDA application)
• Acquisition price: $1.85 million (from Priam Enterprises, October 2025)
• Unit count: 36 apartments (studios, 1BR, 2BR); 4 below-market-rate
• Conversion scope: Floors 2–10 (full gut renovation); ground floor remains commercial; basement restaurant (K:Dara) continues operations
• Building size: ~36,000 square feet, 10 stories, circa 1893
• Historic significance: Buffalo's first high-rise; designed by Green & Wicks
• Tax incentives: ECIDA application filed November 2025
• Construction timeline: McGuire indicated construction start in late 2025 or early 2026

Why Adaptive Reuse at This Scale Matters to Builders

Converting a 130-year-old high-rise office building to residential use is among the most complex construction scopes in the industry. The challenges are layered:

• Structural: Cast-iron and masonry construction typical of 1890s high-rises requires careful assessment before new mechanical, electrical, and plumbing systems can be routed through walls and floors. Load paths must be verified before any opening or penetration.
• MEP systems: A full MEP replacement in a building of this vintage typically means running new conduit and piping through spaces not designed for modern system routing. In a mixed-use building with a live restaurant in the basement, maintaining service to K:Dara while the upper floors are under construction requires careful sequencing.
• Historic compliance: The cornice reconstruction is a statement of intent — the project has been designed to satisfy historic preservation standards. That means exterior work must be executed to match existing historic materials and profiles, with close coordination with the Buffalo Preservation Board throughout.
• Occupied-building logistics: Construction in a building with a live ground-floor commercial tenant and basement restaurant requires dust and noise control, protected egress, and vertical logistics (material hoisting, waste removal) that do not impede patron access.

For general contractors experienced in historic renovation and adaptive reuse, projects like the Dun Building are premium work — specialized, technically demanding, and tied to incentive programs that require documentation and compliance management throughout construction.

The Broader Context: Buffalo's Adaptive Reuse Pipeline

The Dun Building is part of a broader adaptive reuse wave reshaping Buffalo's downtown. Buffalo Rising reported that McGuire is planning a $10 million redevelopment effort, and the project joins a growing list of vacant commercial properties being converted to residential use across the downtown core. Nearby projects like 505 Pearl Street's 53-unit luxury conversion, the Eckhardt Lofts at 950 Broadway, and Pearl Street corridor investments collectively reflect a downtown market absorbing new residential supply at a pace that supports continued conversion economics.

What to Watch Next

Construction was indicated to begin in late 2025 or early 2026 based on McGuire's statements at the time of the acquisition. Building permits, once filed and issued by the City of Buffalo's Bureau of Permits and Inspection Services, will formalize the construction start. Watch the ECIDA board for formal approval of tax incentives, which will follow the SEQR and public hearing process. The project's projected occupancy date was listed as late 2026 in the ECIDA application, suggesting a 12-to-18-month construction schedule — aggressive but achievable for a gut renovation of this scope.

Bottom Line

The Dun Building conversion is a $10 million bet on downtown Buffalo's residential market — placed in a building that has stood at Pearl and Church for over 130 years. McGuire Development is bringing specialist construction knowledge, a credible financing package, and a design team committed to historic character to one of the city's most architecturally significant vacant properties. When completed, it will add 36 market-rate units to a downtown that is steadily converting its legacy office stock to housing. For contractors with historic renovation credentials and adaptive reuse experience, this project and the pipeline of similar conversions it represents are exactly the kind of technical, premium work that sustains specialty crews and margins in a competitive market.

Sources:
ECIDA Tax Incentive Application – 110 Pearl Street (November 2025)
Construction Owners: Historic Dun Building in Buffalo Set for Residential Conversion (April 25, 2026)
WBEN/Audacy: McGuire Development to Buy Historic Dun Building (October 2025)
Buffalo Rising: Big Deal: McGuire Planning Dun Building Apartments (October 2025)