A former elementary school in Buffalo, N.Y., that has been vacant for more than a decade will be converted into a 46-unit apartment complex.

WGRZ-TV reports that the 83,545-square-foot building was constructed in 1927 and housed School 78 until the Buffalo district closed it in 2010.

CDS Monarch Inc. has bought the facility for $450,000 and plans to spend $17 million converting it to apartments for low- to moderate-income tenants.

Work will begin by early winter, and the building should be tenant-ready by fall 2023.