Making redevelopment projects happen in Buffalo

Buffalo developers say it's not about lining their pockets--it's about making redevelopment projects happen or not happen. 

A recommendation was made by the Buffalo Building Reuse Project, aimed at attracting investment in downtown Buffalo.

"We are sending a message: that we kinda not only have our act together, but we know what we're doing and there is real opportunity," said Buffalo Niagara Partnership President and CEO Andrew Rudnick.  

The BNP announced the recommendations at Granite Works, located in the 800-block of Main Street late last week.

Five adjacent historic buildings that were vacant for more than 20 years and converted into a mix of apartments and commercial space, Granite Works is the type of investment the recommendations of the Buffalo Building Reuse Project will help replicate across downtown, according to First Development President Ben Obletz.

"Each project improves its neighborhoods and makes previous projects even more successful," said Obletz.

Obletz said developers now have new help overcoming such financial challenges as asbestos, remediation, code issues, and parking.

Doug Swift, President of City View Properties, was one of several developers on  hand when the recommendations were announced. 

Swift said his Genesee Gateway project, located at the corner of Genesee and Oak, may not have happened if the Margarget L. Wendt Foundation had not provided the majority of the funding.

"The City is now talking about being able to do that themselves.  I don't know all the details about how this program is working, but what I'm hearing today sounds very encouraging," said Swift.

Swift said most of the major redevelopment of downtown historic buildings is done by local investors who believe in the City and are investing in their future.

Rocco Termini is the local developer of the old AM & A flagship store on Washington Street.
 
"What I think what this does is make the AM&A's department store a little more realistic.  There's a $5 million cost to remove asbestos in that building and hopefully this program will help offset some of those costs and make it easier to finance that project," said Termini.

There's two-million square feet of vacant commercial space in downtown Buffalo. 

Brendan Mahaffey, Executive Director of the City's Office of Strategic Development, said the main thrust of the recommendations is that the City's process of getting projects started and completed is being made easier.
  
"It's a completely new structure that coordinates many different public agencies and also the private sector so we can a much more open and communicative process regarding strategies for downtown," Mehaffey.

All the recommendations can be found on the Buffalo Niagara Partnership's Website at www.the partnership.org.