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  #1701  
Old Posted Sep 2, 2008, 1:49 PM
westcoastperspective westcoastperspective is offline
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I've been talking to a few realtors about the city real estate market- demand in the Elmwood Village is as high as it as ever been but there's a lack of product. Some are being priced out and moving to N. Buffalo, a few others are pushing west of Richmond if they have a pioneering spirit. Other buyers are just waiting.

So-

How much longer are other developers going to let Johnson/Frizlen/Ferdman corner the Elmwood Village market? They have two projects done (Brantford THs and 504 Elmwood) and four planned (Elmwood Village Condos, KFC site, Lafayette THs, and the school conversion at 257 Lafayette). A little competition would be good to push design, get more infill done, and bring more units to market.

And, what can the city do to encourage buyers to look at marginal neighborhoods, if anything?
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  #1702  
Old Posted Sep 2, 2008, 2:53 PM
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Absolutley. Things have never looked better in my neighborhood. I never remember streetlife being this vibrant on Elmwood, it has a definite big-city vibe. I'm wondering when there will be enough momentum to start infilling some of the gaps between commercial nodes.

For the "supply problem", there's a plethora of cheap fixer-uppers just west of Richmond, as you mention. Factor renovation costs ontop of the inexpensive sale price and the numbers are still doable for buyers earning a modest salary. Homes on streets like Auburn or Breckenridge between Richmond and Baynes are still a very quick walk to Spot and the co-op.
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  #1703  
Old Posted Sep 2, 2008, 3:11 PM
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The problem with Buffalo (and any city not in the top tier) is that once demand grows so grows demand for parking and you end up with a Panos situation where business start killing the golden goose by making more parking.

Frizlen's architecture may leave much to be desired but he does understand how to keep the parking out of sight.
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  #1704  
Old Posted Sep 3, 2008, 12:22 AM
BUFFALOVE!! BUFFALOVE!! is offline
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This is great. More students should do this

Medaille freshmen get a lesson in the many wonders of downtown
from the b-lo news

http://www.buffalonews.com/cityregio...ry/428083.html
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  #1705  
Old Posted Sep 3, 2008, 12:49 PM
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Originally Posted by BUFFALOVE!! View Post
This is great. More students should do this

Medaille freshmen get a lesson in the many wonders of downtown
from the b-lo news

http://www.buffalonews.com/cityregio...ry/428083.html
Just goes to show that when you get people to actually see Buffalo - they see that it is very different from all the negative stereotypes they hear from people who have never even been there.

Great article - thanks.
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  #1706  
Old Posted Sep 4, 2008, 5:22 AM
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Originally Posted by westcoastperspective View Post
And, what can the city do to encourage buyers to look at marginal neighborhoods, if anything?
The city needs to focus on the basics to improve the nearby neighborhoods: Improve infrastructure (streets, lights, sidewalks, trees), and Reduce crime. The should start with streets closest to EV and work outward. North and South of Elmwood are doing OK on their own. East and West need help. Unfortunately Main St. forms a pretty hard border for people to cross, so East is the most difficult one. Crossing Richmond has potential if it were fixed up and crime was reduced. News like the recent article on West Side Gangs isn't improving the outlook. Nobody is going to sink money into real estate if there are gangs dealing drugs two blocks away.
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  #1707  
Old Posted Sep 10, 2008, 2:22 AM
westcoastperspective westcoastperspective is offline
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Sabre Daniel Paille just bought a unit at Waterfront Place- $459,000
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  #1708  
Old Posted Sep 10, 2008, 3:02 AM
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More on the proposed 3 story building on Elmwood and Bryant

http://www.buffalonews.com/businesst...ry/432269.html
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  #1709  
Old Posted Sep 16, 2008, 2:10 PM
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Update to Statler story posted in the Buffalo News

Statler may soon have new owner and future
Hotel would come to old building
By Sharon Linstedt NEWS BUSINESS REPORTER
Updated: 09/16/08 6:42 AM


The deal to acquire the Statler Towers “is going to happen soon, or not at all,” one source said Monday.
A regional investment group, which includes partners in Buffalo, Toronto and Erie, Pa., could seal a deal to buy the historic Statler Towers by week’s end.

Sources familiar with the negotiations said Erie-based hospitality group Scott Enterprises and Toronto entrepreneur Howard Hurst are in final negotiations to acquire the high-profile property from cash-strapped British developer Bashar Issa.

The sources, who requested anonymity, said the deal would see Hurst and unidentified local investors funding the acquisition, with Scott providing hands-on expertise to locate a hotel in the once-grand hotel building, which is now operated as an office building.

Issa, who in April halted a $100 million renovation of the storied property, had filed an application with the Wyndham Hotel Group to locate a 364- room, luxury Wyndham Historic Properties hotel on 12 floors of the 18-story building.

The current deal, which has been under discussion since early summer, puts Scott in the role of developing a mid-range, extended-stay hotel on several floors of the building, possibly a Marriot Residence Inn.

Scott, which is best known to Buffalo area residents for its Splash Lagoon Indoor Waterpark Resort in Erie, is developing a Staybridge Suites hotel and a Quaker Steak & Lube restaurant, both on Transit Road in Clarence. The family-run business controls more than a dozen hotels and restaurants in Erie.

Hurst, who has real estate and media holdings in Toronto, met with Issa in London in late July to discuss the buyout. The Canadian businessman, who served as an advisor to Buffalo’s Savarino Cos. when it considered buying the 85-year-old Statler building back in 2005, is very familiar with the realities of bringing the landmark back to life.

“This is going to happen soon, or not at all. This group has done its homework and wants makes its move,” said one of the sources familiar with the mechanics of the deal.

The source characterized the deal to be “in Bashar’s hands” at this point.

He also said a potential blow to the buyout effort could be a move by Issa’s father to call a $3.8 million loan he made to his son to fund the 2006 $3 million cash purchase of the Statler, and provide seed money to kick off an extensive renovation effort.

Scott executives and Issa did not return reporter phone calls Monday. Hurst could not be reached to comment.

Mayor Byron W. Brown’s spokesman Peter Cutler said while the would-be buyers have not contacted City Hall to discuss plans, the possibility of a deal is encouraging.

“The mayor has made it clear that this is a prime development opportunity and we hope there is a bona fide proposal made soon for the Statler,” Cutler said.

Word of the potential deal comes as Issa’s financial problems deepen in Manchester, England, where his company’s three main projects are in the British equivalent of bankruptcy. His only finished project, Sarah Tower, a residential building, is up for sale to cover some $14 million owed to the Bank of Ireland.
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  #1710  
Old Posted Sep 16, 2008, 4:40 PM
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Does anyone have a rendering of the Erie Basin boardwalk described in the Buffalo News this morning? I'm having a hard time picturing how that will look.
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  #1711  
Old Posted Sep 17, 2008, 12:33 AM
BUFFALOVE!! BUFFALOVE!! is offline
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With the new courthouse next door an office/hotel/condo Statler would look very handsom. Who ever does it I just want them to put some money into the place. I dont see how they couldnt make it back. The location is simply amazing
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  #1712  
Old Posted Sep 17, 2008, 3:45 AM
westcoastperspective westcoastperspective is offline
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Also known as The Cooperage, the E&B Holmes Machinery Co. is the westernmost original building on the historic Erie Canal. The complex, adjacent to Conway Park, is one of the few to survive in the once-thriving industrial waterfront district that developed during Buffalo’s manufacturing and transportation boom.

River Lofts at The Cooperage will result in a mixed-use development of 22 market rate live/work lofts as well as two or three commercial spaces.

Newark Niagara LLC will use a $200,000 loan from the Preservation League as bridge funding to complete selected demolition of the building’s collapsed portions, replace the roof, and secure window openings to prevent further water infiltration.

http://riverloftsbuffalo.com/



http://buffalorising.com/story/the_c...river_loft#sca
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  #1713  
Old Posted Sep 18, 2008, 1:36 AM
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Going to the marina this morning I saw a sign for Queen City Landing "coming soon".
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  #1714  
Old Posted Sep 18, 2008, 11:08 AM
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Going to the marina this morning I saw a sign for Queen City Landing "coming soon".
For Reference:


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  #1715  
Old Posted Sep 20, 2008, 7:27 PM
westcoastperspective westcoastperspective is offline
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Another downtown property is likely coming back to life as a mixed-use development. Bear Den Properties, LLC purchased 173 Elm Street near Broadway one week ago for $205,000 (far right building). The four-story building had been owned by Mudpies Children's Museum.

According to new owner Barrett Price, plans for the 13,824 sq.ft. property will be “market-driven.” Price owns Bear Metal Works located on Milton Street in the Seneca/Babcock neighborhood. He may move the offices for his growing precision metal fabrication business to Elm Street with the machine shop remaining in its current location.

“The building will be rehabbed and the use will be market-driven. It is a great location with high visibility,” says Price. One possibility Price is considering is residential units on the upper floors. The purchase also included two vacant lots on Michigan Avenue.

“I live here and will continue to live and work here,” says Price. “I have plans to continue investing in the city’s future.”

“There’s a renaissance going on,” says Price.
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  #1716  
Old Posted Sep 22, 2008, 6:19 PM
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http://www.buffalonews.com/145/story/445212.html

New dreams on Elm Street

Business owner mulls plans for site

By Matt Glynn NEWS BUSINESS REPORTER
Updated: 09/22/08 7:22 AM


Robert Kirkham/Buffalo News Barrett E. Price plans to renovate part of this building at 173 Elm St. for offices for his steel fabrication shop, Bear Metal Works. A previously planned museum for children failed to take root at the site.

From the roof of a vacant Elm Street building, Barrett E. Price pointed out downtown properties reborn as apartments or offices.

This was more than idle skyline gazing for Price. He has a similar conversion planned for 173 Elm St., where Mudpies, an organization that provides educational programs for kids, had envisioned a children’s museum.

Price recently acquired the 13,000-square-foot, four-story property for $205,000, according to county records. He plans to move in the offices for his steel fabrication shop, Bear Metal Works, but he is still contemplating ideas for the rest of the building. It could become apartments or condominiums or a mixture of office and living space, he said.

“I’m open to opportunities,” Price said.

Bear Metal’s production will remain tucked away on Milton Street, off Seneca Street. He wanted to bring the small company’s main offices closer to downtown resources such as banks.

Price said the growth of his company, which last year generated $1 million in sales for the first time, has given him the opportunity to buy the Elm Street property to rejuvenate it.

“People like me have to invest in downtown,” he said.

While Price imagines the potential for 173 Elm, Mudpies has let go of its dream for the building. The organization bought the property near William Street intending to create a permanent home for its traveling educational programs.

“We felt it would have been an important and positive institution for the city of Buffalo,” particularly for low-income children, said Marilyn Sozanski, Mudpies’ board president.

But Mudpies couldn’t secure the public funding necessary to make the project a reality. And revitalization of the Michigan Avenue corridor, which runs behind the building, hasn’t taken root as hoped, Sozanski said.

While Mudpies won’t open a museum at the site, Sozanski said she was pleased Price is bringing his own plans to the property.

“We’re so happy because he’s going to do a great job restoring it,” Sozanski said.

City records show 173 Elm St. dates to 1900. The Mudpies Children’s Museum Foundation acquired the building nine years ago for $164,000.

The property is along a highly visible corridor motorists use to get from downtown to the Kensington Expressway, and has on--site parking in the back.

Over on Milton Street, Price is upgrading Bear Metal’s facilities. Last year, he upgraded the shop. This year, he is remodeling its office space and putting in showers, a break room, a conference room and engineering office. In the reception area, a rectangular space in a wall awaits his aquarium.

Out on the shop floor, sparks fly as the company’s robotic welder steadily does its work. Price nicknamed it Wile E. Coyote, for the cartoon character that never speaks, never complains and never quits chasing the Roadrunner.

Price said he has found qualified welders scarce in Western New York, compared with the days when area steel mills were running and the talent pool was plentiful. The robot, he said, can do the work of three welders and has ramped up his company’s production capacity.

Price’s vision for 173 Elm is still taking shape, but he credits developers such as Bernie Obletz and Rocco Termini with renewing interest in downtown’s potential for investors.

“They’re the groundbreakers that took the risk when nobody wanted to,” Price said.

The business owner hopes his project will one day inspire others to do their own downtown projects.

“We can’t die as a city, we have to grow,” Price said. “And to grow, we have to fix up the infrastructure.”
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  #1717  
Old Posted Sep 23, 2008, 7:21 PM
believeinbflo believeinbflo is offline
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http://buffalo.bizjournals.com/buffa...2/daily25.html

Tuesday, September 23, 2008 - 2:02 PM EDT
PR firm heading to Main Street
Business First of Buffalo - by James Fink Business First

Many months in the planning, the Martin Group will officially break ground on its downtown Buffalo headquarters Wednesday morning.

The Martin Group, an advertising and marketing agency, is converting a former Wendy’s restaurant at 477 Main Street into its new offices. Wendy’s closed the restaurant nine years ago and it has sat vacant ever since.

The Martin Group currently leases space on Court Street.

Tod Martin, Martin Group president and namesake, said his firm considered a number of locations before settling on the Wendy’s site. The agency, with 35 employees, has outgrown its leased space, Martin said.

“The area is at the core of who we are and what we do,” Martin said. “It’s the kind of creative environment that we flourish in. Renovating this vacant building and moving our team there is a unique opportunity for us to be a part of downtown’s revitalization.”

The Buffalo architecture and engineering firm of Carmina Wood & Morris P.C., is handling the design work while Lamparelli Construction is the project’s contractor.

The renovation work is expected to be completed by December.

Martin said his agency will move into the building by early January.
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  #1718  
Old Posted Sep 23, 2008, 10:55 PM
BUFFALOVE!! BUFFALOVE!! is offline
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So this building and the Benson travel building... lets keep the momentum going and get to every other building on that horrid block!
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  #1719  
Old Posted Sep 24, 2008, 1:53 AM
westcoastperspective westcoastperspective is offline
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Unofficially what is underway downtown right now:

Federal Courthouse
Avant
Waterfront Place
95 Perry
504 Washington
Slotkin Renovation
723 Main Street Reno.
Allentown Lofts- 530 Virginia
The Whitney
Main Street Retraffic- 700 Block
Iskalo Parking Ramp
Martin Group (soon)
Genny Block (soon)
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  #1720  
Old Posted Sep 24, 2008, 4:20 AM
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Quote:
Originally Posted by westcoastperspective View Post
Unofficially what is underway downtown right now:

Federal Courthouse
Avant
Waterfront Place
95 Perry
504 Washington
Slotkin Renovation
723 Main Street Reno.
Allentown Lofts- 530 Virginia
The Whitney
Main Street Retraffic- 700 Block
Iskalo Parking Ramp
Martin Group (soon)
Genny Block (soon)
Aud and Donovan demo in prep for bass pro / canal side
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