Housing in High Demand Near Buffalo Niagara Medical Campus
Buffalo, NY (WBEN) As the Buffalo Niagara Medical Campus expands, demand for housing along the campus is growing as well.
"The Buffalo Niagara Medical Campus has an economic impact of $1.5 billion," says Christie Rothschild of the Buffalo Niagara Association of Realtors. "The campus is expected to expand its employment to 18,000 by 2020."
Rothschild says there will be huge demand for housing along that corridor, and developers are looking for land. "1,200 downtown units have been added over the last six years, and another 1,300 units are planned by 2018," adds Rothschild.
Adding to that demand is a generation who prefers living in the city. "They want to walk to a coffee shop, a pharmacy, they don't necessarily want to get into a car to go to a mall or look for something else," observes Rothschild.
Rothschild says with that demand, houses are getting sold just as quickly as they're being listed. Rothschild adds there are mulitple offers, which boost the price by up to $15,000 more than the owner's asking price.