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Loft Spaces Grow, as Downtown Sees Housing Crunch



How important do you think the continued growth of residential space in downtown Buffalo is to the rebirth of the city?
Very important
( 60% )
Somewhat important
( 23% )
Not important
( 17% )
 
 
There's starting to be a scarcity of apartments in Buffalo, and several specialized loft and city living projects are rushing in to try and fill the void.

"Demand is exceptional. In fact, in some places, some areas of the Elmwood Village, South Buffalo, North Buffalo, Richmond Avenue, parts of the West side, we are almost out of demand. Which is why we have to focus on building new projects," says Buffalo Mayor Byron Brown.

"I've set a goal of 1,300 units of new housing in and around downtown Buffalo by 2018. We are earnestly working toward that," Brown says.

The migration to the city is being driven by growth at the Buffalo Niagara Medical Campus, but also the aging population of the Buffalo area- with more retirees looking for spaces where someone else cuts the lawn.

"We see a lot of demand because of the medical campus," says Michael Licata of TJ Montante Development, adding several lofts to the former Spaghetti Warehouse site on Ellicott Street.

"We have received a lot of calls just because of our construction signs, on buildings,  from people asking to be put on a list," Montante says.

Typical luxury apartments  being developed around the downtown area rent from $750 to $900 a month, Montante says.

A coalition of local loft and apartment developers are sponsoring a tour of available condos and developments downtown on Saturday.

Trolley tours or self guided visits to six different sites are being held from 11 am until 4, followed by a Celebration Happy Hour" featuring food trucks and a cash bar.  LEARN MORE HERE
 

Filed Under :  
Locations : Buffalo
People : Byron BrownMichael Licata
Poll
How do you react to those big drops on Wall Street?
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  It makes me worry!
 
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