Capital Management Services, Inc. (CMS), a nationally licensed collection agency, headquartered in Buffalo, and Larkin Development Group propose to construct a new 56,000 sq.ft, two-story headquarters building and operations center for Capital Management Services to be located at southeast corner of Seneca and Hydraulic streets, in the resurgent Larkin District.
111 Hydraulic Street would be home to approximately 1,000 CMS associates, and would represent the firm's latest generation of efficient layout and technology that has been one of the hallmarks of the company's success. "Since our inception, CMS has had a strategic relationship with Larkin Development. This new facility will accommodate continued growth while creating an environment that will allow our employees to continue to meet and exceed the expectations of our clients that include the largest issuers and purchasers of consumer debt", Jeffrey Hauser, CEO of Capital Management Services said.
CMS was founded in 2000 and has grown to over 1,000 Western New York Employees and annual revenues of over $68 Million. "As market conditions continue to evolve, CMS will be better able to meet these challenges as we intend to equip our new location with the most innovative technology making our associates even more productive", added Hauser.
The $8.0 million project would represent the first new construction in the historic Larkin District in decades. The site is located immediately east of the Larkin at Exchange Building, and is bordered by Hydraulic, Seneca and Carroll Streets. The site consists of six parcels and is made possible in part by the NYS Department of Conservation's August 2010 approved work plan, creating a shovel-ready site.
CMS will relocate from the Larkin at Exchange Building where they were the first tenant in 2002. According to Larkin Development Group partner Howard Zemsky, "Capital management Services has played a unique role in the re-emergence of the District, initially as our first tenant, and now again as our first tenant in proposed newly constructed space. Our respective companies were in their relative infancy when we began doing business together, and we have grown together on parallel paths; two improbable visions that have become realities during the past 10 years."
Young + Wright Architectural who recently relocated from the Larkin at Exchange building to the newly rehabilitated Schaeffer building in the Larkin District is the project architect. Larkin Development Group also consulted with Tim Tielman of the Neighborhood Workshop LLC and Herb Guenther(AIA) regarding building citing and style.
Zemsky said, "111 Hydraulic will provide CMS with attractive, modern, functional and naturally well lit space in a building that creates emotional connections with the history of its neighborhood. We're shooting for a rational elegance in the building design reminiscent of Buffalo's industrial heyday."
The project will break ground this spring subject to approvals. The project is slated for review by the Buffalo Planning Board on February 15, and the ECIDA on February 14. The proposed project is contingent on receiving sales, use and mortgage recording tax exemptions and a partial real property tax abatement consistent with the policies of the ECIDA.
Once under construction the project is expected to take approximately one year to complete.
Get Connected: Larkin Development Group, 716.362.2677