Buffalo Rising Online

Great Idea - all of main st should be nice condos - financing is real tight....

Judging from the looks of this building, I am sure there will be a problem with preservationsists

this would be a GREAT location for condos

This is old news just coming out of the woodwork again, So is it happening or not?

The developers don't complain when they get 20% historic tax credits from the preservationists.

The preservationist like to complain and have it their way or no way at all. Better not think about putting any awnings up.

Is there no demand for smaller less "luxurious" condos in the 125-150K range or is this an unreasonable price range for a condo in downtown Buffalo?

I have to agree with KenS here. How many condo projects are currently in the works in downtown buffalo and it seems like most of them are way over the $200k range. The reality is that there aren´t that many people in buffalo that can afford a condo for $200k but there are hundreds of if not thousands of people that would love to live downtown but not at these prices. At $200k I would just buy a house. If you want to revitalize downtown Buffalo drop these prices and get younger people down there that will spend the money they make in the establishments around dowtown. It seems like there are condos for the rich and low income apartments in downtown and I don´t see either of these groups spending a ton of money back into that area. Who is going to buy all these condos for $250 - $350k?

It may not be feasible financially to do these types of projects with less expensive condos. It costs a ton of money to renovate these old buildings, it may be that the only way to make any money is if all the resulting condos are high end.

It may not be feasible financially to do these types of projects with less expensive condos. It costs a ton of money to renovate these old buildings, it may be that the only way to make any money is if all the resulting condos are high end.

^^ i assume before a developer spends millions to develop a place they do research to make sure people are going to be able to purchase their properties

it costs $200 per square foot to renovate these...they have to recoup costs somehow

I guess the same type of people who buy the expensive waterfront condo's are the same people who can afford condos downtown in the 250k-300k range. I would like to think the people who build these types of housing have done they're research first, as opposed to building something and hoping maybe there is a market for these.

LivesInTheBurbs - probably a valid point. i think a lot of these developers want to get their money back quick so they jack up the prices but I think long term if there were more reasonable prices in the city you would have tons more people moving in and it would work out for everyone but since nobody wants to wait 10 years or more to get their money back we will continue to have condos for sale in the $300k range

assaroni...if your numbers are correct($200 per sq. ft renovation costs), how is the developer above selling the condos starting at around $300k for a 2100 sq ft condo instead of $420k using your numbers?

What a giant bunch of crap. I'm the most pro Buffalo person in the world and this SOUNDS like an A+ but this guy is starting to look like Bashar Issa II. He made a little ruckus with the adjacent building 3 years ago and he hasn't done anything with it even in the height of downtown Buffalo's mini loft conversion boom. Especially in today's economy I don't expect anything but more but the same with this proposal. Sorry for being negative but (from what I've read) this guy is unproven and I don't want to get my hopes up just to get disappointed. I'm putting all my warm fuzzy feelings towards the AM&A's warehouse conversion.

But please prove me wrong Mr. Spurlock!!!

"If you want to revitalize downtown Buffalo drop these prices and get younger people down there that will spend the money they make in the establishments around dowtown."

Revitalizing downtown isn't the goal for a developer. The goal is to make money on the project.

I'll let you in on a little secret - the model unit at The Whitney Condominiums is getting appliances delivered on Monday. At 1093' the six units are priced between $129,000 and $149,000.

I think it goes without saying that anyone that opens a business (condos or other) is in it to make money for the most part. However if you don´t think about the market that you are trying to sell to inevitably your business will fail so the revitalization of downtown has everything to do with their ability to sell these condos and to as you say ´make money.´ If you put a high end restaurant in a low economy neighborhood you probably won´t sell a lot of food. Downtown Buffalo is not Manhattan so you need to meet the needs of the market or at least the market that is most willing to occupy those condos.

RonR - yes, The Whitney is in the same price per square foot, but not in the same price range as any of the 2 bedroom units out there.

I'm really speaking to those who state that an affordable project can't be done. We're days away from completion and I think we'll have a great product.

kens,,,,its called grants and incentives...the only way anything can get donw in this hellhole...ask Rocco Termini and David Burke

Cheaper condo's will definately not look like this building nor anyother historic building in Buffalo.

Buildings that don't "mesh" with our rich architectural heritage don't make it past the planning stage in this town. (Unless you're Carl Paladino)

Request cheaper condo's you're asking for a cheaper looking building... man I could see it now

You can have less expensive condos or empty buildings, take your pick...

Anything can be built it just depends how quick you want your money back and they don´t have to be ´condos´persay, they can be apartments, the point is that less expensive living can be built in downtown and simply has to be or all these buildings will remain empty or unsold. Skarnath can throw all the numbers he/she wants around in an attempt to sounds smarter than everyone else but it really doesn´t matter because you are not going to get an influx of buffalonians to pay those higher prices any time soon. That´s it, plain and simple, nobody is talking about square feet or high end condos or luxury units blah blah blah, the point is that buffalo does not have enough people willing to pay those higher prices so build less expensive units, whatever you want to call them, and get the people who are willing to live downtown in those units, renting or otherwise. In any city if you want people to live there you have to have different priced living units not only overly priced condos. How many people actually live down downtown and you want to tell me you can only build high end condos, give me a break,! It can and has to be done or Buffalo will continue to have virtually nobody lving downtown.