A former nursing facility located in New York is set for a fresh start as two siblings intend to relocate onto the property and transform it into a successful $40 million cannabis enterprise.

The Eerie County Home, a 700-bed nursing facility serving low-income locals, closed in 2005 and remained empty, falling into disrepair over the years—until recently.

Ryan Rich, aged 40, and his brother Luke Rich, 38, are members of a group of four investors aiming to gain ownership of a property in Western New York following their purchase for only $1.

Last month, the County Legislative body enacted a local regulation that transferred the property to a limited liability company owned by the Rich siblings along with two more individuals involved in the cannabis industry,
Buffalo News
reported.

We had the option to do it anywhere in the U.S.,” Ryan said to the Buffalo News. “We decided on Western New York since that’s our home.

They envisioned a flourishing cannabis industry and, following multiple years of discussions with municipal authorities, their aspiration turned into a successful outcome.

Republican Lawmaker Frank Todaro stated
WIVB
We launched it in 2017 through an officially contracted broker. We’ve only gotten interest from people who aren’t serious. There hasn’t been anything realistic that would have made sense.

Thus, the $1 sale in July, aimed at reinvesting the vacant structure, seemed reasonable to authorities.

The inexpensive rate, nevertheless, involves significant expenses for cleaning up and removing asbestos from the deteriorated building.

Ryan said to the Buffalo News: “The main problem in that structure isn’t truly the asbestos. It’s actually the neurotoxins resulting from bird and bat droppings, quite honestly. Therefore, if we handle these substances properly moving forward, we don’t believe there’s much of a justification for demolishing those buildings.”

Todaro referred to the structure as a “liability,” yet informed WIVB: “[The brothers] had several options for placing other businesses in Western New York, with Alden being among their preferred locations.”

They recognized it as an attractive parcel of land, but it remained empty, and they wished to contribute something to the neighborhood.

Todaro mentioned that builders will proceed in stages, and “will reduce the presence of asbestos and use certain structures along with constructing a new one.”

“But they intend to use that property for the benefit of the community in the future,” he said.

The siblings anticipate the transfer of the property to their possession by September, with intentions to start building this autumn after the designs receive approval in Alden.

They hold expectations that their enterprise will contribute to revitalizing Alden, which, apart from agricultural areas, is mainly recognized for its state penitentiary and local correctional facility.

“Collaborating with Eerie County and Alden was somewhat like a perfect fit for us,” Ryan said to the source.

We’re genuinely very pleased with our decision to establish ourselves here and generate employment opportunities in this town, which we believe has significant potential.

In 2022, the siblings invested in Garden Greens, an agribusiness based in New Jersey, which later added a cannabis cultivation operation.

Ryan mentioned that the company’s marijuana cultivation center is considered among the top in the state.

“It resembles nearly a pharmaceutical-standard laboratory … and operates smoothly without any issues,” he remarked.

However, residents of Alden have expressed worries about the Riches’ intentions to acquire the vacant structure for a cannabis-related enterprise.

Several individuals have wrongly expressed concern that the company intends to cultivate cannabis outdoors, leading some to climb over the fence and take the drugs, said Colleen Pautler, supervisor of Alden town, to the Buffalo News.

She mentioned that considerable effort went into comforting residents, and she feels there is a learning process involved, yet the new company is expected to bring numerous job opportunities to the region, according to the report.

“I believe it presents an exhilarating chance for our community,” Pautler remarked.

Todaro told
WGRZ
Another advantage is 150 job opportunities, and these aren’t low-paying positions. They offer decent wages that allow people to support themselves, so they plan to expand further, starting with around 150 roles and increasing from there.

The chief of staff to County Executive Mark Poloncarz, Benjamin Swanekamp, mentioned that the property had been available for purchase at an unusually low cost over an extended period without attracting any buyers.

An official assessment of the property conducted last year indicated that even when factoring in potential expenses for renovation or tearing down structures, the property’s overall value was “below zero,” according to the report, despite the land itself being valued at $2.2 million.

Swanekamp mentioned that the prolonged time to finalize an agreement was due to the county declining to take responsibility for any potential liabilities associated with the property.

“This offers significant advantages to the county and its residents,” he stated.

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