Allegany Crossing Self Storage, the new facility with indoor, climate-controlled space as well as outside storage space and located in the former Kmart plaza on Route 417, is quietly opening this week.
The 21-acre site includes the 100,000-square-foot building, which was renovated inside and out, with about 60,000 square feet for indoor storage and the remainder for retail, commercial or light manufacturing. There is more outdoor secure storage to complement hundreds of indoor storage spaces of all sizes
The owner is Cornell Capital Holdings, headquartered in Olean and which built eight facilities similar to the one in Allegany in the past two years, said founder Dana Cornell.
The $13 million investment was structured so inflation would have a limited impact on the cost of the project, although supply-chain issues slowed the project at its outset, Cornell said.
A soft opening is planned for this week after the certificate of occupancy is received from the Town of Allegany, said Meghan Johnson, chief operating officer of Cornell Capital Holdings. A ribbon-cutting is planned for Sept. 28, she said.
Cornell said the climate-controlled indoor storage area represents about half of the storage space, which ranges from small 5-foot by 5-foot spaces up to 10-foot by 20-foot spaces, as well as one that could fit a recreational vehicle.
There are three large spaces on the left side of the building that are available for lease by light manufacturing, retail or commercial companies. Cornell said his company will build to suit tenants in the 40 percent of the building not occupied by the self-storage facility.
Life Storage will run and manage the self-storage facility, Cornell said. The self-storage facilities first came to Cornell’s attention when he worked for Morgan-Stanley. They are still very popular and very profitable.
So far, with word-of-mouth only, Cornell said he’s already received 50 preregistered customers. The location on Route 417 at West Five Mile Road is right off Exit 24 of Interstate 86. A second entrance has been established from West Five Mile Road.
Kinley Corp. of Allegany was the general contractor on the project with an average of 40 onsite construction jobs.
Cornell said the location, the new exterior and well-lit interior are designed to provide customers with peace of mind and safety. Exterior and interior cameras provide increased security.
Cornell said the self-storage part of the project is enough to sustain it. The rest he hopes to put to the best use for the community in terms of jobs.
There are a number of outparcels that have drawn interest — from coffee shops to truck stops and drive-through food chains — Cornell said. “I’d like top bring some diversity to the area,” he added.
Extension of sewer service outside the village of Allegany to the West Five Mile Road area will benefit Allegany Crossing as well, although the project was designed not to require sewer service.
The $13 million project was also induced by the Cattaraugus County Industrial Development Agency through about $2 million in sales tax, mortgage tax and property tax incentives.
