Existing Structure

An S3 Partners Project: A Stellar Example of Repurposing Existing Structures

In the realm of property development, S3 Partners exemplifies how an existing structure can be ingeniously transformed into a state-of-the-art self-storage property through its NuRENU program. The NuRENU program gives existing structures a “facelift,” improving everything from signage to security, and in some cases, tackling expansions and conversions.

Kmart to Climate-Controlled Storage

In Allegany, New York, a 21-acre site that was a former Kmart Plaza has undergone a comprehensive inside-out renovation, resulting in 60,000 square feet of indoor storage space and a vast area open for retail, commercial, or light manufacturing operations.

One of the standout elements of this $13 million investment is the climate-controlled indoor storage area, which accounts for about half of the storage space. This area features units in various sizes, from compact 5ft x 5ft spaces up to roomy 10ft x 20ft spaces – even accommodating a recreational vehicle. This facility provides secure storage and ensures the preservation of stored items despite external weather conditions.

Beyond storage innovation, the structure’s design has been given immense attention. With a fresh exterior, well-lit interior, and fortified by internal and external cameras, the facility guarantees its customers safety and peace of mind. It is designed to inspire confidence, making it an ideal choice for people seeking a safe storage solution.

Engine for Local Economic Growth

This S3 Partners project isn’t just a self-storage facility; it’s an engine for local economic growth. The development will create jobs, and the available out parcels hold the potential to attract a diverse range of businesses – from coffee shops to truck stops and fast-food chains. The project is estimated to generate around $2 million in sales tax, mortgage tax, and property tax incentives, significantly boosting the local economy.

Sustainable Development Through Repurposing

Repurposing this particular existing structure exemplifies a sustainable approach to development. Reutilizing buildings reduces the need for new construction materials, minimizes waste, and lessens the environmental impact —an excellent example of marrying economic development with environmental stewardship.

This project is more than a self-storage facility—it is an innovative and forward-thinking development providing significant societal benefits. It is an inspiring model for future property developments, demonstrating how repurposing can lead to remarkable opportunities for local communities and the environment.

If you’re interested in learning more about our project or discussing potential opportunities, don’t hesitate to contact us. The team at S3 Partners is eager to answer your questions. Contact us today.

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