The Westfield Town Board this week approved the sale of the Welch’s building to a development team for $475,000.

WESTFIELD — Efforts to preserve the Welch’s building in downtown Westfield have taken a giant step forward.

The Westfield Town Board this week approved the sale of the property at 2 Portage St. along with 2 acres of land to a development team with Western New York ties. The goal is to convert the historic building into two dozen one- and two-bedroom apartments and an entertainment venue.

The town board approved the sale to RANT LLC based in St. Louis and the Buffalo-based Savarino Companies for $475,000.

“We wanted someone who had experience, and they had historic preservation experience,” said Martha Bills, town supervisor, of RANT, and noted the work done by Savarino Companies in the Buffalo area. “We’re really happy about this, and we look forward to welcoming them into Westfield.”

According to a consulting group that first announced the sale of the building Thursday morning, the developers are planning to create 24 apartments between 500 and 1,200 square feet, occupying four floors and “geared to the lifestyle of young professionals.”

On the first floor, about 10,000 to 12,000 square feet and currently utilized as commercial space, “will ideally become a year-round entertainment venue complemented by other amenities,” the consulting group said in its release.

Bills said the Chautauqua County Industrial Development Agency helped the town market the downtown building. The town purchased the property in 2014, and with it 14 total acres of land, in an attempt to preserve the building once considered the cornerstone of the Westfield business district.

In December 2019, the board approved the sale of the four-story building to Landmark Development Consortium LLC of Buffalo for $350,000. Initial plans included $5 million in renovations that would have converted the property into commercial and retail space with apartments in the upper floors.

Those plans, however, fell through during the COVID-19 pandemic.

“When we found the Welch’s building, we knew it was right for us,” said Ray Rybak, who is leading the development team. “Our vision to create new residential units and needed commercial space, while repurposing an historic structure, aligned with the town’s goal of bringing this gem back to life in a meaningful way. It was a perfect fit.”