Ellicott Development is moving forward with plans for a second tower at its Waterfront Place development. Meanwhile, a slow start to town home sales at the project has sent the developer back to the drawing board for design changes. Of the four town homes completed, only one has sold. Units in the condominium tower, The Pasquale, have faired much better with 65 percent sold and the building still months from completion.
As currently designed, the traditional, all-brick town home residences range from 2,325 to 2,782 square feet in two or three-bedroom configurations. Each town home includes a private courtyard/patio that will overlook the project's landscaped common area. The town homes, designed by Chaintreuil- Jensen-Stark Architects, are priced from the low-$500,000’s. A fully-decorated model unit is located at 11 Ojibwa Circle.
“The units are top-quality,” says one realtor who wishes to remain anonymous, “but when buying at that price point in Waterfront village, buyers expect a view of the water and a more open floor plan with soaring ceilings.”
Ellicott now plans to lower the rooflines and scale back the size and price of future town home units. The number of units will drop by one, to 14.
With strong sales in the mid-rise, Ellicott Development is readying plans for a second tower on the site, a twin to the first. Suites in the 49-unit, 13-story Pasquale start at $295,000 and top $1 million for a penthouse. First occupancies are expected this fall.
According to Ellicott Development's Carl Paladino in this morning's The Buffalo News, the company is simply responding to demand:
“We are seeing a small but growing number of people who want to live downtown to be closer to where they work. We think that will continue to increase as the cost of gas rises and they rethink living way out in the suburbs,” Paladino added.
Work on the second tower could be underway next year.
Get Connected: Chris Martoche, Ellicott Development, 716.570.2399 (cell)
Entry image and photo above by Matt Kofahl, town home picture by Aaron Zimmerman.