First National in Olean, NY | Savarino Companies

First National | Olean

Architect: Johnson-Schmidt & Associates, Architects

Owner: Manny Hanny Development Co.

Project Start: 2013

Project Completion: 2016

Savarino served as developer and builder for the historic renovation of the long-vacant 1915 First National Bank building and the adjacent former Siegel’s Shoes building in downtown Olean.

The ten-story First National structure (locally known as the “Manny Hanny Building” for its former occupant, Manufacturers’ Hanover Bank) houses 21 market-rate apartments on floors two through ten. The former bank lobby and mezzanine were repurposed for commercial, event, and arts-related uses.

Project funding included federal and New York State Historic Tax Credits, federal New Market Tax Credits, a Downtown Revitalization Initiative grant from Empire State Development, and private financing.

First National is managed by Savarino Properties.

Related press

“Governor Announces Completion of First National Project”

Release from Governor Hochul’s office, June 2023

The adaptive reuse of Olean, NY's First National building features apartments with kitchens with dark cabinets, granite countertops, stainless steel stoves, gray subway tile backsplashes, wooden flooring, and pendant lights.
The adaptive reuse of Olean, NY's First National building features apartments with modern kitchen interiors.
The adaptive reuse of Olean, NY's First National building is in progress, showing the multi-story building surrounded by scaffolding and under renovation.
The adaptive reuse of Olean, NY's First National building features apartments with open-concept kitchen and dining area, stainless steel appliances, a large kitchen island with stools, and hardwood floors.
The adaptive reuse of Olean, NY's First National building features apartments features bright bedroom with large windows and hardwood floors.