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  #1041  
Old Posted Sep 26, 2007, 5:31 AM
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I think the ramp is extremely unfortunate.
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  #1042  
Old Posted Sep 26, 2007, 1:39 PM
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Tuesday, September 25, 2007 - 1:37 PM EDT
Main Street site eyed for apartments
Business First of Buffalo - by James Fink Business First


A series of long-vacant Main Street buildings are under consideration for residential-based, mixed-use development.

Local developer Rocco Termini confirmed he is moving ahead with a $15 million project that could see as many as 42 new apartments come to significant portions of Main Street's "500 Block" and some adjoining Washington Street property. The plan includes building a multi-level parking ramp at the corner of Washington and Mohawk streets, currently a surface parking lot exists, to service to apartment's residents and nearby businesses.

Termini said he has a series of buildings under contract, beginning at 501 Main Street and running south to 515 Main Street. The buildings include two that date back to the late 1800s and a sliver of an empty parcel that once served as portion of the fabled Century Theater. The project -- Century City Lofts -- takes its name from the theater.

If built, the project would address one of downtown's biggest eyesores, a series of blighted buildings along the 500 block. The ripple effect is already being felt with Buffalo City Hall officials confirming that Iskalo Development wants to acquire a former two-story Burger King restaurant at the corner of Main and Mohawk streets for a separate mixed-use project.

Termini meet briefly with the Buffalo Planning Board on Tuesday to discuss the project. His next step is to appear before the Buffalo Preservation Board to land historic district designation for the project, a move that opens the door for tax credits and incentives needed to make it financially viable. Termini is also seeking new market tax credits and incremental PILOT financing from the Erie County Industrial Development Agency to cover fiscal gaps in the project.

Termini, whose downtown residential projects include the IS Lofts and the recently-opened Webb Building, said the project is being driven by the continued demand for affordably priced apartments in the central business district. Termini noted his IS Lofts building has a 200-person waiting list.

"There is a big market in downtown for apartments with lower rents," he said.

Tentative plans, according Termini's architect, Jon Morris, a partner in Carmina & Wood Architecture & Engineering P.C., call for all of the apartments to have one bedroom and be about 670-square-feet.

The Main Street buildings will each be three stories with a common upper-level walkway connecting the structures.

"These buildings are worthless alone," Termini said. "Only when they are combined are they worth something."

While the buildings are predominately vacant, some have a smattering of retail on their respective first floors. Termini declined to comment on his plans for the first floors of the buildings once the projects are completed.

"They will be mixed use," he said.

Mixed-use development is essential to secure new market tax credits.

Pending various municipal approvals, Termini hopes to start work on the project by next spring. It should take between six months and nine months to complete, he said.

http://buffalo.bizjournals.com/buffa...ml?jst=b_ln_hl
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  #1043  
Old Posted Sep 26, 2007, 4:40 PM
BUFFALOVE!! BUFFALOVE!! is offline
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I'm just giddy with glee right now. we are losing a handful of major eyesores in prominent areas. Yay for BUFFALO!!! I just hope it all stays on track but i'm confidet after Rocco's display with the webb building
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  #1044  
Old Posted Sep 26, 2007, 5:06 PM
westcoastperspective westcoastperspective is offline
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It definitely isn't the largest project, but it is in such a critical location. Genny block is another one coming together. Good timing for Rocco- there isn't anything under construction right now with Webb and 210 Seneca wrapping up. He's also smartly going after the more affordable market <$800/month.
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  #1045  
Old Posted Sep 26, 2007, 11:29 PM
BUFFALOVE!! BUFFALOVE!! is offline
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^^ agreed. great to have downtown for young professionals. my roomates and I are going to look into this when they come on the market
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  #1046  
Old Posted Sep 27, 2007, 1:04 AM
westcoastperspective westcoastperspective is offline
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sorry- double post.

Image of Waterfront Place taken from Admiral's Walk next door.
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  #1047  
Old Posted Sep 27, 2007, 1:05 AM
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Waterfront Place:

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  #1048  
Old Posted Sep 27, 2007, 1:20 AM
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I like how Waterfront Place and Healthnow will sandwich the 190. It's nice to see that there won't be as many tumbleweeds on Main St. after 5 downtown. Funny that now that we'll finally have some more people on Main, cars could be returning shortly. Dunno though--this still probably won't be the critical mass needed to make the ped mall idea work though. Just curious--how many residents equals critical mass? Thoughts?
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  #1049  
Old Posted Sep 27, 2007, 2:26 AM
BUFFALOVE!! BUFFALOVE!! is offline
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There has been tons of great development news in Buffalo recently. Corner turned? I like to think so. When is construction supposed to start on the waterfront place tower?
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  #1050  
Old Posted Sep 27, 2007, 3:26 AM
westcoastperspective westcoastperspective is offline
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Quote:
Originally Posted by BUFFALOVE!! View Post
There has been tons of great development news in Buffalo recently. Corner turned? I like to think so. When is construction supposed to start on the waterfront place tower?

For real? Look a couple posts down for proof the tower has started.

DB- The number I've heard over-and-over as the 'key' number for downtown retail is 10,000. I think we are about 1/3 of the way there if you count Waterfront Village. Anyone have the census numbers handy for the downtown area? That doesn't mean there won't be smaller retailers, more restaurants, coffee shops, etc. opening until then. My bet is that the areas that will see retail first due to downtown workers and downtown residents will be the 700 block of Main once the west side of that block gets developed (Schmidt and Vernor lots), the 500 block, and the Ellicott/Genesee Blocks.

Corner turned? Yes. These are the critical projects in my mind, no particular order:

Genesee Block since it is a gateway location
Century City Lofts- the 500 block has been an eyesore for so many years
Statler- just because it is so big and is proposed as multi-use
City Tower- symbolic of a new Buffalo
AM&As- hulking black hole
Canal Side- a regional draw that could kick-start Cobblestone development
Fed'l Courthouse- modern beacon on Niagara Square
Fairmont Creamery- highly visible
More Housing-Housing-Housing
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  #1051  
Old Posted Sep 27, 2007, 4:13 AM
BUFFALOVE!! BUFFALOVE!! is offline
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I thought that was the parking garage
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  #1052  
Old Posted Sep 27, 2007, 5:01 AM
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Some groups tout downtown population as 10,000 people. To get to that number they include Allentown. It is fair to say that Allentown is the whopping majority of that population. At say 8000 people allentown supports retail but just barely. It is also very dense. Downtown has a long way to go to get to Allentown levels of people. Downtown has an advantage in that it has a very big daytime population.
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  #1053  
Old Posted Sep 27, 2007, 5:08 AM
westcoastperspective westcoastperspective is offline
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Quote:
Originally Posted by BUFFALOVE!! View Post
I thought that was the parking garage
The first two levels are the ramp, where the floors narrow- are the residential levels. I believe they're working on the third floor now.
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  #1054  
Old Posted Sep 27, 2007, 3:07 PM
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haha..i can see my car in that photo as i was driving to school. thanks for the aerial shot, talk about great timing. hey how much taller will this thing be because i like to drive though and associate some sense of future presence. close to the health now building i thought? it feels so good to see so many changes so soon. we are out of our minimalist period

Last edited by impressingagent; Sep 27, 2007 at 3:32 PM.
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  #1055  
Old Posted Sep 27, 2007, 5:18 PM
westcoastperspective westcoastperspective is offline
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11 floors of residences, two floors of parking

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  #1056  
Old Posted Sep 28, 2007, 10:25 PM
impressingagent impressingagent is offline
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thanks west coast for everything. this project is going up pretty fast. anyone else see the Iskalo article in Business Journals?

http://buffalo.bizjournals.com/buffa...40.html?page=1
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  #1057  
Old Posted Sep 29, 2007, 4:22 AM
westcoastperspective westcoastperspective is offline
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Quote:
Originally Posted by impressingagent View Post
thanks west coast for everything. this project is going up pretty fast. anyone else see the Iskalo article in Business Journals?

http://buffalo.bizjournals.com/buffa...40.html?page=1
I have no sympathy for Iskalo not getting the 500 block site for their tower. They only had a few decades to put a deal together. Find another nearby site and stop whining.
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  #1058  
Old Posted Sep 29, 2007, 3:51 PM
BUFFALOVE!! BUFFALOVE!! is offline
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^^ that and its not like there're arent any other sites downdown. what about that stretch of royal beauty supply stores just north of rocco's project
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  #1059  
Old Posted Sep 29, 2007, 7:29 PM
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That claim just sounds like sour grapes to me, 'awe its a shame that rocco is just going to redo these buildings, we were gonna put disney land on that sight'. Give me a break iskalo, they have done good things with the electric tower but what about the old shoe store across the street that they own and have done nothing with for years.
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  #1060  
Old Posted Sep 30, 2007, 4:52 PM
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Does anyone know if there has been any progress with the Federal Courthouse. I have been away at school and was just woundering if there are any updates.
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