BUFFALO | Development Thread

[ladsnine]

Interesting tidbit contained in this article:

Main St Site Coming Back as Restaurant

D’Avolio’s Kitchen has signed a lease to occupy the first floor of a building at 535 Main St ... D’Avolio’s Kitchen is slated to open this spring.

Downtown Buffalo has either welcomed or will soon see other new restaurants open including Dog e Style on Genesee Street and a new eatery in the former Golden Swan on Ellicott Street, both of which are being developed by Rocco Termini.

The former Golden Swan was at 437 Ellicott Street, right down the street from the IS Lofts. Did we know about this one?


Source: ForgottenBuffalo.com

[ladsnine]

Also:

I heard (not sure if this has been announced somewhere or not) that Resurgence Brewery at 1255 Niagara St. is opening late April.

---------------------

And, this photo appeared on Big Ditch Brewery's facebook page. Work has begun on their new space, a rehab of part of the old Verizon warehouse at Huron & Ellicott.


Source: facebook/Big Ditch Brewery


Source: Buffalorising

[ladsnine]

More apartments planned for the Larkin District:

$5M apartment conversion planned near Larkinville

A prominent development group is moving ahead with plans to convert a century-old warehouse into a residential-based project.

The partners in the Frontier Group of Cos. are working with Buffalo officials to transform a vacant, 94,675-square-foot warehouse at 550 Seneca St. into a complex anchored by 31 apartments and indoor parking. The project carries a development price tag just north of $5 million.

This one has been rumored for a while, but this is the first official announcement I've seen.



Also, at the end of the article:

Slater said he expects work on the 550 Seneca Street project will be done in conjunction with the renovation work at the neighboring 500 Seneca development. It will precede work that Frontier will be doing at the former Lake Erie Freight House along Ohio Street.

“This one is a little further along than Ohio Street,” he said.

The warehouse, which dates back to the early 1900s, has been used for a number of industrial purposes including serving as a storage center for auto parts and also a furniture warehouse. It has been largely vacant for more than a decade.

Is this talking about the Erie Freight House project, the 5-story new construction apartment building on the riverfront? If so, that might be farther off than we thought. I thought construction was more or less imminent on that.

[westcoastperspective]

Originally Posted by ladsnine

Interesting tidbit contained in this article:



The former Golden Swan was at 437 Ellicott Street, right down the street from the IS Lofts. Did we know about this one?


Source: ForgottenBuffalo.com

He talked about it when he bought the building where Tappas is, and then it was quiet. Glad this is back 'on.'

[ladsnine]

Originally Posted by westcoastperspective

He talked about it when he bought the building where Tappas is, and then it was quiet. Glad this is back 'on.'

Any idea if this is the new "cocktail lounge" that was announced yesterday? They didn't say where it was going but somewhere in the Theatre District. This kind of upscale restaurant concept seems like something Rocco would bring in.

http://blogs.buffalonews.com/hungryf...t.html?ref=bmh

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And...some news on the Birzon Building:

Birzon Building in Theater District in Line for a Makeover



Jacobs, who owns 678 Main St., will join with banker-turned-developer Paul Kolkmeyer as minority investors in the $5 million effort to convert the former Birzon building at 686 Main St. into a mixture of retail, office and residential space.

The 30,000-square-foot building, which extends from Main to Pearl Street, is owned by John Barry, who has been trying for some time to pull together a renovation project but lacked key tenants to fill the space.

Jacobs, who owns the building next door, has a fast-growing tenant on his second floor – educational technology company 3rd Learning Systems – that needs 5,000 square feet of additional space. “They’ve grown so significantly,” Jacobs said.

So Jacobs devised a proposal to help both his tenant and Barry, and brought Kolkmeyer in to join him in financing and managing the project. Barry already has a grant from the New York Main Street program administered by Buffalo Place, and would also seek historic tax credits for the renovation.

It goes on to say that they are going to punch a hole through the side of the building so that 3rd Learning can take the whole 2nd floor. The 3rd floor will become 12 lofts, and the 1st floor will be some type of retail. However - the whole thing is contingent on Mark Croce letting them put windows in the side of the building, since they would need an easement from him since he owns the parking lot next door (which will become parking for the 505 Pearl St. project announced a few weeks ago, if that project happens).

This building looks terrible but cool be very cool cleaned up, so I really hope they find a way to pull it off.

[westcoastperspective]

[QUOTE=ladsnine;6515193]Any idea if this is the new "cocktail lounge" that was announced yesterday? They didn't say where it was going but somewhere in the Theatre District. This kind of upscale restaurant concept seems like something Rocco would bring in.

http://blogs.buffalonews.com/hungryf...t.html?ref=bmh

QUOTE]

No- I heard it's a different concept for the Golden Swan site (Cajun?). I also heard this cocktail lounge is going into an existing restaurant location. That doesn't narrow things down.

[alki]

This may be a great way to go with the HSBC bldg:

Hackable Buildings

http://vimeo.com/51982951

[ladsnine]

An update on the various Buffalo Billion initiatives:

Work is set to begin on several Buffalo Billion initiatives

More than two years after Gov. Andrew M. Cuomo launched his signature economic development initiative for the Buffalo Niagara region, work is likely to begin on some of the high-profile projects as summer approaches.

Construction is likely to begin in the next few months on the Buffalo High- Tech Manufacturing Innovation Hub at RiverBend, the $225 million hub for clean energy and high-tech businesses that will be located on the former Republic Steel site in South Buffalo.

State officials said they soon expect to begin purchasing equipment for the new center for advanced manufacturing near the Buffalo Niagara Medical Campus and the medical genomics research partnership that will link the University at Buffalo with a group of prominent hospitals, medical schools and research organizations.

They expect the Buffalo Medical Innovation and Commercialization Hub, spearheaded by Albany Molecular Research, to open in a temporary home by early summer and move into its permanent home by early next year.

A site for the computer information technology center anchored by IBM is expected to be picked by the end of this year, while state officials also expect to make a choice in the coming months between the plans submitted by two finalists for redeveloping the Rainbow Centre in Niagara Falls.

The article also talks about a bunch of the smaller low-cost initiatives that are happening as part of that economic development push.

Meanwhile, Census estimates show that the metro area grew for the first time since 1993 this year and most of the growth was immigrants as opposed to US citizens, which suggests the city of Buffalo also grew (though we won't know until June), which would be its first growth since the 1950s.

Things are seriously looking up around these parts.

[Fortunate4Now]

Originally Posted by ladsnine

Things are seriously looking up around these parts.

Certainly a lot of new construction, waterfront progress, new industry and population increases can do that for a region long used to bad news . Now we just need good news about the Bills future.

[ladsnine]

Originally Posted by Fortunate4Now

Now we just need good news about the Bills future.

Oy, yes - there is that...

[ladsnine]

Commercial Real Estate Deals Soar Early this Year

January and February were bitterly cold in Western New York, but the commercial real estate market was burning hot.

Nearly $120 million worth of commercial property changed hands in Erie County during the first two months of the year, setting a pace that local brokers say hasn’t been seen here in years.

Moreover, that occurred in what is normally the slowest season of the year, in what has been one of the coldest and snowiest winters in decades.

Kissling sees the commercial real estate market transforming the region.

“I am very confident that within five to 10 years, Buffalo will be hardly recognizable,” he said. “For the last 50 years, Buffalo has been in a slow decline, but what has happened to the city in the last four years is truly unbelievable. When I first came to Buffalo in the winter of 1999, there was hardly any private renovation or new construction. During the last four years, there is 10 times more new construction and renovation than the past 50 years combined.”

Some positive news for your morning. It sounds like maybe investors outside the region are showing more interest.

[westcoastperspective]

Originally Posted by ladsnine

Some positive news for your morning. It sounds like maybe investors outside the region are showing more interest.

That was uplifting. Except Carl Paladino who says they're nuts for going on a buying spree. Never mind Ellicott Development has been on a buying streak itself.

Speaking of deals - I hear David Sweet's properties (Rand, Main/Court, Main/Seneca) are getting new local ownership.

[Busy Bee]

Originally Posted by ladsnine

Buffalo is finally getting a shipping container building!! (assuming it gets through the various city approval boards). Every project Rocco has announced has happened, so I expect this will happen.



Here's the site: (not really the most inviting little shred of land)



The city really needs to get on that streetscaping project they have planned for this stretch. How long have they been talking about that??

Too bad they're not going to retain that great old sign. It seems crazy in 2014 to be destroying these increasingly scarce vintage neon signs. I know their are big costs attached to fixing them or retrofitting them but it seems worth it. It would cost a small fortune to have something like that fabricated these days.

[ladsnine]

Originally Posted by Busy Bee

Too bad they're not going to retain that great old sign. It seems crazy in 2014 to be destroying these increasingly scarce vintage neon signs. I know their are big costs attached to fixing them or retrofitting them but it seems worth it. It would cost a small fortune to have something like that fabricated these days.

Don't worry, the sign isn't going anywhere - despite the building's boarded up appearance, Scherer Bros. Furniture is still very much in business in that building and seems to like its sign just fine. I agree - it is very cool.

The new shipping container building is going in that little 20' wide vacant lot between the two older buildings.

[ladsnine]

Originally Posted by westcoastperspective

That was uplifting. Except Carl Paladino who says they're nuts for going on a buying spree. Never mind Ellicott Development has been on a buying streak itself.

Speaking of deals - I hear David Sweet's properties (Rand, Main/Court, Main/Seneca) are getting new local ownership.

I can't help but wonder if Paladino is just trying to dissuade competition. It doesn't seem to be working...

That's awesome news about the David Sweet buildings. They're all interesting buildings in great locations - maybe we'll see some investment and upgrades? As far as I know the Rand Building is pretty well leased up, but it would make a pretty great residential tower if it weren't...

Speaking of which - I just want to put this out there...I think the old Educational Opportunity Center (the six story yellow brick building on Washington St.) is just begging to become student housing. UB already owns it, it's in the heart of downtown, it's really kind of old + not very unique, so it would be hard to market as office space. They will need student housing for their downtown campus sooner or later... in other cities, student housing has been a major invigorating force for downtown, so why couldn't it be here? As far as I've heard, UB has no plans for that building, though.

[westcoastperspective]

Originally Posted by ladsnine

I can't help but wonder if Paladino is just trying to dissuade competition. It doesn't seem to be working...

That's awesome news about the David Sweet buildings. They're all interesting buildings in great locations - maybe we'll see some investment and upgrades? As far as I know the Rand Building is pretty well leased up, but it would make a pretty great residential tower if it weren't...

Speaking of which - I just want to put this out there...I think the old Educational Opportunity Center (the six story yellow brick building on Washington St.) is just begging to become student housing. UB already owns it, it's in the heart of downtown, it's really kind of old + not very unique, so it would be hard to market as office space. They will need student housing for their downtown campus sooner or later... in other cities, student housing has been a major invigorating force for downtown, so why couldn't it be here? As far as I've heard, UB has no plans for that building, though.

Agreed- Rand would make for some neat lofts, even a boutique hotel. Main/Court should stay office. And maybe just a few apartments at Main/Seneca. Downtown needs to keep some class B space!

EOC- I heard that it is listed as available for the StartUP NY program but I also heard that Sheldon Berlow is shopping the building for sale. I've looked online and haven't seen anything listed. It's a natural for student housing or lofts.

[westcoastperspective]

Score one for common sense- Elmwood/Forest deed restrictions tossed. Helllo mixed use future.

http://buffalorising.com/2014/04/bre...ctions-tossed/

[stormkingfan]

[QUOTE=ladsnine;6528643]Don't worry, the sign isn't going anywhere - despite the building's boarded up appearance, Scherer Bros.QUOTE]

That's good.
Was gonna say that I've seen architectural salvage outlets in my travels, and old neon signs could be sold to places like that.

[Tedious]

This makes 3 mixed use projects in the works in the Elmwood Village:

[Tedious]

Originally Posted by westcoastperspective

Score one for common sense- Elmwood/Forest deed restrictions tossed. Helllo mixed use future.

http://buffalorising.com/2014/04/bre...ctions-tossed/

The only thing I'm concerned about is that they are expecting the opposition to file an appeal. Don't appeals usually take a long time? It took 4 years or so just for a judge to strike down the restrictions, right?