Change in Plans at Elmwood Village Condos
Prices now start at $230,623 for a one-bedroom, one and a half-bath unit with 1093 sq.ft. of living space. Two-bedroom, two-bath units range from 1300 to 1408 sq.ft. and are priced from $274,300. Association fees will start at $151/month. Under previous plans, the building offered twelve units, the smallest being a two-bedroom, 1890 sq.ft. floor plan priced at $380,000.
"We have changed the layout for the units planned on the first level,” says sales agent Ellen Warner. “In our preliminary marketing, there were several potential buyers who expressed a desire for smaller units. We are being responsive to the market. They will be smaller units, thus more affordable, yet will offer the same level of finishes that the larger units in the building contain."
Homes are decidedly upscale with fireplaces, hardwood floors, radiant floor heating, master suite with walk-in closet, Jacuzzi tub, kitchen with granite countertops and breakfast bar, dining area, in-unit laundry, and central air. All units will have either a balcony or patio and secure underground parking.
Customization is available. Unit 104 (floorplan below) is one of the largest units on the first floor. “It shows exterior space along the entire back of the unit. This unit has two bedrooms and two bathrooms,” says Warner. “Because people will be able to modify their space, within constraints, they may choose to make the second bedroom into a den or office. It is an opportunity for folks to be creative with their living spaces.”
The project is targeting professionals and empty nesters who are eager for new, “green” construction in a carefree, low-rise lifestyle just steps from Elmwood Avenue.
Construction will start when seven units are sold. To date, three units are under contract (purchase agreement with deposit). All three are the large, two-level units on the third floor featuring a loft area and terrace, three bedrooms, and three and a half baths. The final two-story unit with 2,588 sq.ft. is priced at $546,600. Three-bedroom units on the second floor start at $437,400.
Get Connected: Maureen Flavin, 716.743.6469; Ellen Warner, 716.725.1410
Click here for a virtual tour.
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Comment Options
gaustad
If Maureen can single-handedly over inflate the values on the water front, I am sure she can sell these puppies in a snap. Cheers Mo
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RisingDamp666
It just isn't eighties enough. More fake victorian gables, please.
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Ike
will there be kegs and eggs in the quad?
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NewBuffalo
$230,000 for a one bedroom? are you nuts? thats affordable? that gets you a new build single family home in amherst/wheatfield........
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Martin
Sorry folks, have to agree with "newbuffalo". These prices are out of wack for the buffalo market. I can get a one bedroom in "SPIRE TOWER" in Atlanta for that price! I also have to agree with the look of this building. For those prices it looks like an older apartment building on Sheridan Drive.
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mbhxam
$230,000 also gets you a great multiple bedroom on lancaster avenue...what a JOKE...these apartments look crappy and will most likely not hold their value...go to buffaloniagarahomes.com and enter a search for single family home with a range of 150,000 - 250,000 and see what you can get...anyway, i guess as with most things in life and certainly as is the case with the use of ""more affordable" here, everything is relative...Maybe Ralph Wilson will decide to make the Bills "more affordable" to a Buffalo buyer!
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platt4
Aren't you all the same people that were screaming for condos under $250k instead of the luxury units at Gates and the Waterfront? They listen and then get told by the 'experts' here they're nuts. Some people have a bit more money than you- get over it already.
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ktl2277
I read an article about this building 2-3 days ago and in that article the developer said that 3 of four of the most expensive units were already pre sold, so obviously this developer is doing somthing right.
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simcoe
A lot of the cost is linked to being only a stone's throw from the Lance Diamond Review.
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Martin
I don't believe you know anyones income level on this site Platt4. In any city other than maybe NY, condo's are always an iffy investment to begin with, thats why we invested in our 5 homes instead [slam]. I also believe what people want or trying to say is they want affordable condo's for the younger prof. crowd in the 150 range which is not to much to ask and can be done, yes there are those that want a 500 grand condo, thats great for the over 50 crowd or those that maintain several homes around the country, but I believe Buffalo needs to entice a younger crowd to stay in the area also. A 20 something person probably is not quite ready for this price range yet.
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Rebecca
Not everyone wants a single family detached home.
I know I do not want to live in Lancaster or Wheatfield - my guess is that other people feel the same way.
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Martin
@ Rebecca...thats not the point, what people are trying to get across is different price points for different income levels...lol@u
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Texpat10
New Buffalo. The people that are going to buy these units don't want a $230,000 crackerbox in Wheatfield. They represent a different segment of the market Not everyone wants to live in an off the shelf Home Depot cabinet, linoleum floor, laminate countertop vinyl sided home. Not everyone in the city wants a single family house renovation project with a yard and a $600 a month heating bill.
And Martin, I can't believe that I get to say this, but the Buffalo real estate market hasn't crashed like in Atlanta. Developers are off-loading unsold condo units there at huge discounts. People who bought recently are taking a bath. I saw a unit that was originally $500,000 selling for $350,000 and it was furnished as part of the deal. Spire has been for sale for years and Novare still hasn't sold it out. And I'll bet that while the prices are comparable, the units are 100-200 sf smaller so price per sf is higher.
I am not a huge fan of this design but I am betting they'll sell.
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JohnnyWalker
matin says.... "thats great for the over 50 crowd or those that maintain several homes around the country, but I believe Buffalo needs to entice a younger crowd to stay in the area also. " .... That is done with jobs, jobs, and more jobs, not less expensive condos
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Martin
texpat10, my point is taken then, condo's are not a safe bet, yes it is crashing in atlanta, miami, many cities. Waterfront, Dulski building, Gates tower etc, how many condo's do you think this city will be able to support before it crashes? [trust me, I hope it does not...ever] Nor did I say there is not a market for these condo's, but that there should be some affordable construction for other income levels, and yes, I agree, these will sell. One day I will be game for a condo myself, the up-keep on these homes does get tiresome and expensive.
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Martin
true JohnyWalker
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Texpat10
So since the developer's cost per sf is fixed based on the build out, are you saying that the units should be built out with lower end finishes (maybe knocking $10-15k off the price) or the units should be smaller than 1,100 sf? For $150,000 expect an 800 sf unit. Do you think those would sell better?
The price isn't just some arbitrary number. It is based on the cost to acquire the property, design and build the project and provide a profit to the developer.
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LastCall
I love the idea behind the project. The design does look a little collegiate and basic, but the interiors look great. While this might not attract the 25-30 crowd, their are plenty of houses on neighboring streets that would be more affordable and offer more space.
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bjfan82
$230k is much much more reasonable for a new-build condo in Buffalo. I'm glad that the developer has responded to the demand for lower priced units, the original prices were absolutely absurd when they started at around $400k or whatever. Anyways, I look forward to seeing this project get built. Lets hope this continues the trend of building more units in the City, God knows there is a severe shortage.
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MikeS
I just the think the bashing of projects was funny, but man, what a bummer. All these armchair quarterbacks. Rag on the price. Rag on the design. What is up with that? I'm not trying to be a "just build stuff, get stuff done no matter what" but these are some real good projects. Developers, investing in the city, building things OTHER than Wallgreens and so many negatives. I know this is public site and people are encouraged to comment on things. However, why would some be so bothered by someone paying 200, 220 or 240K for a property or condo. I hope people do pay that. I live in the area of this development and hopefully it will drive up the cost of the area. You know, get on the housing boom that the rest of the country has enjoyed for so long. And yes, the housing market boom has gone bust, but like the stock market, its up in the long run.
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estreet
The price sems just right compared to the 700-900 ($198,000) square feet cottages off Rhode Island that the same agent is selling. Both locations also carry with them tremendous potential for excitement. I had a gun pulled on me in front of the West Utica location not all that long ago.
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Martin
I also look forward to this project to be built, it is a good thing for the area, hope to see more.
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tudorguy
As a condo owner (and soon to be seller) let me ask you this - I have a 2 br/1bath upper floor condo (800 sq/ft). I've redone it with all very high end appliances, floors, built-ins, etc. heating parking etc. I'm hoping for $180k - think I have a shot?
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Martin
@tudorguy...I bet you do, if not point taken
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RobH
"Demand for smaller, more affordable units has spurred some changes at the planned Elmwood Village Condos project on W. Utica Street. " Shouldn't this read "Lack of demand for $385K+ condos has spurred some changes...." ?
The $200 sq. ft. they're charging is 60% more than new build construction in the suburbs. And this, for a building thats going to allow dogs. I took a pass. Only 3 sales in 6 months of marketing, sounds like most others did also.
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Buffalo30
TexPat10, I think your point on project costs is relevant, but unit price has nothing to do with project costs. Unit demand and the wealth of those representing the demand determine the price. Backing-in to the price points by determining project costs is ignorant to demand. Project cost projections should be utilized to decide whether a project is viable given demand, not to generate price-points. The cause and effect logic should be……(cause) there is demand for $500,000 condos so, (effect) $500,000 condo units are built. Not, (cause) this project will cost X so, (effect) I am going charge Y.
The developer understands this logic, and is adjusting the product mix to what they believe is more in-line with demand. Whether they are on-target remains to be seen.
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BROKEEPSBLOCKINGME
if there is such demand for lower priced units, why are the large expensive ones the only units sold? doesnt make sense...I say this never gets built... Maureen can inflate at the waterfront but the rest of the city is smarter...
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RonR
Text- You are right on. The cost of real hardwood floors, custom cabinets, granite counters, crown molding, high end appliances and large windows all come with a cost. If these go in is another story but the budget looks like it accounts for things like this.
BROBlock- There is a huge demand for the $100k-$200k price point but without heavy subsidies it is next to impossible to build for that in the city. Especially for a developer that is not doing multiple projects at the same time. Added to this, building in an area where there is already existing structures is much more expensive than building in an open field.
For the city to see large amounts of new housing at this price point, it will need to have several blocks open. For example, multiple projects in the parking lots of the cobblestone could get it done...maybe.
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ChocolateShake
How can this architecturally uninteresting building get a pass while people get angina over the design of the local Wilson Farms?
This is a private project and said developers can and should do what they want with their private (emphasis added) capital.
Yet, I don't see how this building is any different than some "ticky-tacky" new build in Wheatfield. Honestly, if you just glance at the drawing you might conclude this was some generic SUNY dormitory project.
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sally
It looks a lot like the cookie cutter apartments going up near UB Amherst. So I guess we should get all excited over them as well.
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mbhxam
i said ON lancaster, not IN lancaster...
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mjman4
dang....$230K is insanely high for no views and a questionable location. why not get rid of some of those fancy roofs and windows and offer unfinished spaces for 100 and under...
and may i just continue to comment, that Frizlens designs are horrible! i could see justfication for $230K if this was a signature peice of archtiecture...but it is not, as a matter of fact it belongs in 1989 suburban Denver...
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mmjazz
Coming from an out of state perspective: its the taxes that are going to be even more horrific on these. I am guessing that a 500k property will have 8k-10k a year in property taxes. Something has to give in NY--500k in phoenix is about 2k per year. The tax expense makes it even more diffcult for a middle class person to pull this unit off. So, what you will have is a kidless banker in a small unit, or if you have a family they send their kids to private schools. Buffalo has a troubling problem of decaying schools and also exorbinant taxes. It might be a different issue, but if there was anyway more charter schools could improve the outlook, it might be more enticing to families to live and inhabit these properties and be involved in schools. I love these kind of properties, but it would be nice to see neighborhoods develop with growing families who do more in the local schools or start charters. I am getting off topic, but I think for Buffalo, this kind of real estate and its success is closely related to how people perceive schools, and the tax burden these folks(elmwood condo buyers) pay in light of their perception of local school quality. I hope that makes sense.
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tonyarmani
mmjazz you are right on topic - they are not worth their weight in chicken wings...such a small property at such a high price and exorbitant taxes. I've said it numerous times before on these posts, the 3 things that need to come down in order for Buffalo to succeed:
1. Taxes (obv)
2. Politicians (See: Spitzer)
3. Unions (definitely)
I think that they may need to reevaluate their prices..these would sell in the 160k range, not 230k.
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sbrof
you want something cheaper... look at the previous post about the church developments... You get what you pay for. That simple These are very nice places with all the perks. The option lower than the church homes are a habitat house. Construction is expensive no matter if it is an open field or not.
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sbrof
I will admit it does have a SUNY dorm feel to it. Hadley village in the city?
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wizardofza
These $250K+, 1,000 sqft condos seem pretty pricey at first but consider the whole package:
Fresh, brandspankin' new/modern units (maint. free!) within immediate walking distance of plenty of restaurants, nightlife and other exciting surroundings unique to WNY....underground parking...intereting patios. The uniqueness factor is what gives these condos value over a new singlefamily crackerbox in the burbs. They'll easily sell to people who have the money and want a unique living situation and aren't encumbered by children.
I'll agree the exterior is blandola as hell, looks kinda like a supersized Taco Bell (yea, Frizlen sucks) but 95% of anything newbuild in America is typically that bad. We live in a free society where architectural style can't be legislated so I guess we have to put up with mediocre design these days :/
Moral of the story is people will buy these. Also, I'll take this over some rundown rooming houses any day.
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mmjazz
Tony A--you are completely right. As a side note, I recently had a conversation with my dad who was a bricklayer union guy for years--even he conceded that the unions can get in the way of development. On the positive side there was a lot of support and training for folks and union pride. He even said, "I dont care what you say union quality was always job one in buffalo." That part of it i understand--the loyalty to the employee is great, that's a lost art. But even though we beat a dead horse with this point, the importance of it is so important--as the unions fade in buffalo, you will see more and more construction and development happen in buffalo--that and more tax incentives should come. I know people resent tax incentives for the wealthy, but...its the 'wealthy' who are going to bring growth, interest, housing, businesses to Buffalo. There are plenty of capable people like 'jen' who has the new clothing shop who have a vision. These folks need support--they need patrons to purchase products so more business owners will buy into the area. She deserves the support of the city for taking a risk. Free markets with a little incentive and support.
Tony A-- I agree. Lose the unions, give tax credits for businesses, more competition in schools, and politicians who put the city of buffalo ahead of their own call girls or political power(the last one is pretty naive i know). It seems like Brown is making an effort--truthfully, I dont know mucn about him and his beliefs about gov etc. I think it will be a good day when a mayor can get elected without the support of the unions and when the unions are not a major political player in the process(naive again perhaps).
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RonR
MMJAZZ.
The union, as a business, is what shafted its members. For years it pushed legislation to keep the union system in existence. The results, while offering security to those who run the union, made the actual union worker obsolete.
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pgf1948
The floor plan illustrated is atrocious.
Entering into a blank wall, turning past the "breakfast bar" in hope of grabbing a double martini.
Hope no one trips over the laundry basket on the way to an upscale, formal dinner.
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ChocolateShake
Tonyarmani – you eloquently sum up in one post what needs to be done to materially rebuild Buffalo.
Again, this is a private development and they are free to do whatever they want to do with this project (with some code limitations). How long has this project been planned? If the condo market is so hot, especially at this location, then why the delay in construction? Time is money… Just get the project done!! If they can attract people at over 230K, such demographics would be an added boost to this strectch of the Elmwood Village.
Yet, to be honest, what is the difference between “ticky-tacky” housing in Wheatfield and “ticky-tacky” condos in the City? Whether you are a real estate barracuda or an armchair developer, I think it is a legitimate question to be raised.
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MRodgers
I got dizzy when we went up the stairs, hit my head on the slanted ceiling, and barfed over the railing. Just kidding, I couldn't resist. Nice job, though.
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Sal
The location alone will sell these. There is a strong demand for new housing in the city, stronger than most people here realize. We recently purchased 3 adjoining properties on West Utica (between Elmwood and Delaware) as well as an empty lot on Summer because of the demand for new housing.
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RisingDamp666
If you ever want to visit Austin, just go by this dump. Magically, you're there.
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driz716
$230,000 later, I live across the street from the one of the village's digiest bus stops and within a 2 minute walk to Buffalo's worst brunch. Sweet.
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mmjazz
RonR-
So does that mean the unions are not getting in the way of development in Buffalo today? Weather and taxes are two obvious negatives, but I am under the assumption that union labor is still a factor in keeping developers out--is that not really true? I want to know more.
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BFLORome
Gotta tell you...this would have been an ideal development for condos priced better than $230k to start for a 1-bedroom. It's simply not on a street that should command that much $$$. Look around it-- a lot of 'tenament-level' housing--most of which is not well maintained. Sorry--for $230 grand and one bedroom...there are simply better pickings elsewhere. Hey, I'm all for condo development in the city...it's needed... but hey could've done additional smaller, more affordable units that would attract young professionals. Give them a reason to stay here and invest in Buffalo in a neighborhood that would be ideal for them.
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