Waterfront Place has welcomed its first residents. The couple, both doctors in their late-20’s, were allowed an early move-in at a townhome unit prior to closing this week. Meanwhile, sixty percent of the condo units in the mid-rise tower are under contract. The $30 million residential development occupies one of the last parcels in Waterfront Village overlooking Erie Basin Marina.
“Sales have slowed down somewhat during the traditionally slow winter months, but interest hasn’t,” says Ellicott Development’s Chris Martoche. “I’m getting more calls now than ever. We’re thrilled with the response to date. We’ve sold twenty-nine units without any significant advertising except small ads in Home Finder, a billboard and most recently a banner on the building.”
When asked what the developer means by ‘sold,’ Martoche says, “Sold means signed contracts with five percent, non-refundable deposits.”
“We have buyers from Amherst, Clarence, Hamburg and even elsewhere in Waterfront Village. One unit has been purchased by two businessmen from Italy who own a local business and are in town frequently,” according to Martoche.
Both of the eleventh floor penthouse units priced at over $1 million are under contract. With over 3000 sq.ft. of space, they are being sold as raw space. “Buyers are working with their own architects and designers to make it their own,” says Martoche. “The units will be spectacular.”
Other residences in the 49-unit tower range from 1,342 square feet for a one-bedroom unit priced from $295,000 to over 2,600 square feet three-bedroom units priced in the high $700’s.
Fifteen, three-story townhomes built adjacent to a private park will round out this portion of the project. A fully-decorated townhome model will be available for viewing in approximately three weeks.
Crews from Concept Construction are currently pouring the 10th floor. Buyers are expected to begin moving into the tower this fall.
There is room on site for a second tower, but future development plans are undetermined.
According to Carl Paladino, chief executive officer of Ellicott Development Co., “We will study the market when we finish what we are now building.”
Get Connected: Chris Martoche, 716.854.0060 or 716.570.2399 (cell)
Photos by Aaron Zimmerman