Update: Waterfront Place


“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

Here's something pretty interesting - did you know that the USS Little Rock Guided Missile Light Cruiser has an average of 250 people stay on it each weekend? That's right, whether it's ROTC, Army cadets, or American and Canadian Boy and Girl Scouts boarding the Little Rock for the night, these groups arrive to navigate the cruiser and learn about the water (and man's place on it). Just ask AMCS John Branning, USN (Ret) Chief Engineer about the weekend occurrence. He waits for eac …
These days, if you head down to the Inner Harbor, you are sure to find something of interest... like finding the doors to 'The Barn' cranked open. The Barn is situated next to the Super 'Dangerous' Yard - a place where many of the missiles and jets are found. The kids that take the tour of this yard call it 'dangerous' because of the artillery found there, while the employees that work at The Barn say that it is dangerous [joking] because the kids pick up the pebbles and throw the …
Remember when you were in grade school and your teacher helped you make gifts out of Popsicle sticks and construction paper? Any parent is genuinely touched by the sentiment behind these lovely creations... but if you're a little too old to be making noodle necklaces, it might be time to leave the handcrafting to professional artists and get Mom something original that she'll be sure to love. A shopping trip for local handcrafted goodies at Buffalo's only monthly independent artis …
We all got here in the same way, and we all have a woman to thank for her part in it. My mother, Nelle, was the last of a family of nine, whose parents came from Tortorici, Sicily.
Lately, at the urging of my cousins, she's become somewhat of the family historian because at the age of 82, she is the only one of her immediate family to have a computer, and she knows how to use it. The questions flood in, and she does her best to answer, while my cousin Joanne has diligently sc … 


Comment Options
RisingDamp666
Looks like this baby could turn out to be quite successful.....now I think I'll head toward the storm cellar...
Report this
gaustad
Bashar Issa should take a few lessons from Carl P on development in Buffalo. The guy gets it done!
Report this
nonono
WCP
""$30 million residential development Sold means signed contracts with five percent, non-refundable deposits at over $1 million are under contract. With over 3000 sq.ft. of space, they are being sold as raw space""
facts and figures! great job, and much improvement- B++!!! that wasnt so hard was it?
(kudos to Chris Martoche for bringing critical figures to the discussion, and not just the usual bag of superlative adjectives!)
my work here is done, carry on.
Report this
Martin
At this rate it seems like a second tower is a no brainer! I agree, well researched all your p's and q's taken care of!
Report this
Joshua
Great article Chris. Thanks for the update! I would also be benefical to know how demographics are changing. It seems like most of the people moving into this condo are already living in WNY. I wonder how many "new" people are moving into Buffalo from out of town.
Report this
sbrof
I am looking forward to seeing the impact that projects like this are going to have in the 2010 Census. No one is expecting a explosion but seeing growth in several downtown block clubs or neighborhoods would be very good for publicity and real estate. All those figures of population decline are estimates and it will be interesting to see what parts of the city are increasing population as well as which ones are still hemorrhaging.
Report this
icecreamsub
yes, and as a customer of the beautiful Rite Aid on Elmwood/Bryant I thank Carl P. for "getting it done"
Report this
sbrof
or as a resident near the Greystone... way to get that done!!
Report this
Spaulding97
Wow, that's moving along really fast. See what can be done without petitions and lawsuits? Amazing, hopefully the next one he puts up it taller.
Report this
chris69
hey, Im ready for the 2nd tower to get started
Report this
tjhorner1
Thanks for the update on this project. It is very encouraging, especially because I am constantly hearing how no one in Buffalo can or wants to be able to afford a condo that sells for more than $300k. I guess this is proof positive that there are people in WNY that can and will spend big money on a condo in the city. While I agree that affordable condos ($150-300k) for the 21-45 crowd downtown would be a great addition to the scene, the 45+ crowd is also drawn to the city, and it's energy!
There are plenty of people making 6 figures plus in Buffalo. and many of them want to BUY a condo and live in the city! Are the Gates Circle condos available for pre-sales yet?
Report this
NewBuffalo
Once again, if you provide GOOD MODERN HOUSING people will come. Look at homes in the NEW developments in the 2nd ring suburbs. Homes going from $275,000 to $500,000. Contrary to the report of Buffalo being the 2nd poorest city in the nation, our money resides in the suburban areas. If you STOP at the city line then yes we are poor. Buffalo could never swallow its suburbs like other comparable cities. The point is: MONEY IS HERE, GOOD JOBS ARE HERE what lacks in the city is GOOD IN DEMAND HOUSING. All the boarded up homes in some (many) areas no one wants. NOT even to REHAB.
Report this
Perry
I love driving down the 190 and see that building go up - signs (albiet small) that Buffalo is changing. Looks even better with the new HealthNow building across the highway.
Report this
BROKEEPSBLOCKINGME
Paladino is a first rate developer regardless of what the hippies on this site think. He sets goals and completes them if they are financially viable. Obviously the Greystone is not viable (wasnt Termini supposeto buy that?)
Report this
sbrof
hippies? really? sorry I am not old enough for my father to remember the real hippie era. The point is he isn't the saving grace that people like to think of him. Sure he does some ok projects now and then but along the way he allows buildings to rot because of his own, or at least the incompetent engineers that he hires, miscalculations. Don't forget he caused the cave in of the greystone roof when he tried to cut through load bearing walls.
Great job genius.
He used his political pull to get exclusive use of the waterfront property site when there was a better competing plan. I am glad he does get things done here and there but overall he really only is looking out for what is best for him and his pocket book. Not what is in the best interests of the city as a whole. Far from the ideal developer for the city.
Report this
NBJOHN
I should have stayed out of the grocery business and focused on becoming a doctor... And finding a doctor wife
Report this
al-alo
NBJOHN,
I recommend just playing doctor. no, not u and me. its not like that. not like that at all. i mean girls. stop looking at me like that. you know what i meant. enough already, im married.
Report this
tonyarmani
Glad to see more Italians moving to Buffalo... FORZA ITALIA!!
Report this
BROKEEPSBLOCKINGME
Sbrof, last I check Carl P does work for himself, and not for the City, the Govt, or anyone else. This new concept here in Buffalo is called CAPITALISM... We should try it here, private sector projects are what make an area boom...Not putting up a courthouse or another IDA, BNE, ECIDA, BNP, BERC, ECHDC, or other govt teet sucking agency
Report this
sbrof
I fully agree with you but at the same time, this capitalist shouldn't be allowed to cut corners and given the edge against others like him. The project that was in competition with him for the waterfront site was well regarded as something the whole of downtown could benefit from. It was the supported plan by the city's planning department. But Paladino used his political clout to get approved even when our own planners voiced against it. Sure both plans were created to make someone money. But one of them, city supported was given the shaft because he can buy people.
Next case greystone.. how come he constantly gets dismissed from housing court? How come the building inspectors that attempt to write up higher fines and punishments for letting this building rot fear gett fired, or held back from promotions for doing their job. How come HE can put pressure to get his way in the government. That isn't what either of us want. Sure he doesn't take tax breaks but he sure does leach the teet of government to get what he wants.
What about his court street building. He was given the opportunity quasi illegally to develop that site over the Main Place garage owner who wanted to put up another parking garage. I am pretty sure there were stipulations as to when construction should start etc.. to make sure this (nothing) doesn't continue to happen. But years latter when the city could have had construction jobs and increased parking capacity later the site sits vacant. IO even liked his proposal for the site more than another parking garage but he doesn't seem ever want to follow through with a project unless it offers quick easy profits for him. Except that the rest of downtown is left with the scraps of his schemes. I am sure the neighbors around his other sites are not enjoying his ventures are garbage piles up on court and bricks fall off the back of the greystone. But no one is fining him, no one is putting him in jail, everyones hands are tied because he has too many people's pockets lined.
Report this
nonono
tjhorner1
are you really as arrogant and as condescending a prick as your comments in this post would indicate???
""While I agree that affordable condos ($150-300k) for the 21-45 crowd downtown would be a great addition to the scene, the 45+ crowd is also drawn to the city, and it's energy!""
I know two college educated professionals in their 30's whose jobs contribute greatly to society and government in Buffalo, who are lucky to be able to afford a rundown $79K double with gun shot wounds on the west side.......how incredibly out of touch, self absorbed, and elitist can a person get ???? oh, wait, this is BR.......carry on, conceited gas bags of the world, carry on.
Report this
carlmalone
All I really care about is that my wallet gets fat. 20 somethings 45s, who cares. I want money, yah, that's all I want. This town can go into the dust bucket for all I care, I just want to make to make sure that none of that dust gets on my BMW or over my Italian threads. Poverty sucks, please stay away!
Money, money, money....that's all I want....
Report this
sally
Beautiful, simply beautifu
Report this
BROKEEPSBLOCKINGME
Carl Malone, I feel the same way! I want money too,...
Report this
BROKEEPSBLOCKINGME
Sbrof, i agree with many or your points. However, put yourself in his shoes...hes a developer and Buffalo is a very volatile market where you cant make many mistakes whereas the financial end of development is not very forgiving in this economically depressed environment. The Greystone was obviously a mistake on his end, he took on the project only to realize in hindsight that it was not viable. The Court Street tower is happening as I know the attorneys putting the deal together as we speak. Everybody must realize Buffalo is a scary market for a developer.
Report this
tjhorner1
Nonono....yeah, I guess I must be a...how did you say, an "arrogant and condescending prick". While I'm sure your two friends do contribute greatly to our region, they don't represent everyone in their 20's and 30's in WNY. I have quite a few friends who are the same age as me (33), who also contribute to WNY in a big way. They work at Geico, Ingram Micro, HSBC, M&T, UB, Univera, various law firms, and hospitals, and...well, you get the point. A mortgage payment between $150 and 300K is well within their reach.
My point here isn't that they are elitists or arrogant, but that they do exist, and are actually quite prevelant in WNY. These friends didn't graduate from Harvard or Yale, but instead places like Buff State, Fredonia and Geneseo. Today, many of them own houses in the suburbs. Almost all would prefer to live in the city...preferably downtown, but no one is going to give up tax deductible interest and appreciation on their homes in Amherst, OP, Lancaster etc. to live in an apartment in the city that offers none of the advantages of home ownership. A $1,400 monthly payment on a $200k condo isn't scary, but a $4,500 a month payment on a $550k condo sure is.
And Nonono, before you go on and accuse me of being born to wealthy parents, let me put that one to bed for ya. Born to a single mom on public assistance, I worked at a Kwik Fill to put myself through college, and my first job out of college paid me an amazing $17,100 a year in salary. Fun paying of $25k in student loans on that salary, but I managed. I'm well aware oif the struggles of getting ahead in Buffalo, but let me tell you that plenty of people are doing it everyday, and are successful contributors to our region. We are members of the 21-45 crowd, and we want to own and live in the city that we all share...If that's such a bad thing to you, then you can call me and arrogant and condescending prick as often as you like.
Report this
carlmalone
I'm actually the condescending prick you all talk about.
Why: Let me simply say I am better than you all because, well because, I am. I get up at 10 maybe 11 am every morning, have a couple of coffee, watch tv and then take a nap. I sit around all day with a smile on my face, smoke a little, cook dinner then go out, maybe pick up a chick or maybe just get ripped. I aspire to nothingness, yet take great satisfaction in the fact I don't really ever have to work, probably never will. I was gifted a great deal of money, so I rarely worry, if ever.
Though some may see this as shallow and meaningless, I am still better than you all, better than everyone. Better than that Peace Corp volunteer, better than Lincoln, better than, well better. I am God, I am Heaven, I am Earth. I am me....
Report this
icecreamsub
sounds like a daisy if I ever heard one
Report this
RisingDamp666
carlmalone: not getting rich and dying not trying.
Report this
gaustad
Carl Malone - keep doing what your doing - you a playa! I want to hang with you! Serioulsy!
TJHorner - good for you - I wouldn't take it! I agree, that there are plenty of people that live in the Burbs that can easily afford one of these condos, build more.
Report this
nonono
tjhorner1
""Geico, Ingram Micro, HSBC, M&T, UB, Univera, various law firms, and hospitals, and...well, you get the point.""
Oh yeah, I get your point, but I dont think you do......My friend is a psychotherapist who helps patch together the psychic shrapnel that occurs when ones head explodes after hours on the phone with companies like Geico, HSBC, M&T, UB, Univera, and god forbid anyone in a law firm or hospital. You really dont get it, and hence my accusation of arrogance and prick-ishness. Some people actually adopt a life model " live simply, so that others may simply live ". I know this is anathema to the high rise waterfront condo set.
You all have a right to the per suit of your own happiness, it is a pity however that your collective satisfaction comes at the near denial of the existence of others and your piggish acquisition of our common lake front!
Report this
Urbanica
Nonono -
Maybe I am missing something...
What is wrong with being 35, making a decent living, and living in a waterfront condo? Does that fact make someone deny the existence of others and join some collective group that is hell bent on putting a "no tresspassing sign" on ever parcel of air that has a waterfront view?
Report this
allentowndiva
Oh nonono...you poor silly dear, now I see where your hate stems from. You really are unhappy with your lot in life, please do not drag all the people of Buffalo into the gutter just becouse you and you friends are poor. There are all types of income levels for all age groups. In your circle the 21-30 somethings probably rent, in mine they are buying their first "starter" home or condo. In your circle the 30-45 somethings are buying a dreary rehab or tiny condo, In mine they are ugrading to larger homes with a 54" flat screen next to the wet bar. In your circle the 45-60 somethings are still working on the dreary rehab, In mine it's a second home on the Cape. Your friends are from Buffalo, so are mine. Maybe, just maybe if you had been an achiever instead of complaining your way through life, you'd be one of my friends...huggsy's
Report this
linksfiend
Regarding the government teet comment, didn't Ellicott Development get quite the tax break on this? Doesn't the assessment slowly increase over 10 years until it reaches full assessment?
Now, I'm not arguing with that philosophy. In fact I think it should apply in more cases. Wouldn't that approach have made more sense in Ron Alsheimer's and the Plaza Group's redevelopment of the Lutheran Nursing Home and the Immaculate Conception Church? Couldn't the city have worked with the Plaza Group on slowly increasing the assessment as renovations were completed and residences were leased? http://www.buffalorising.com/story/patiently_praying_for_a_buyer
Report this
sbrof
I think the point isn't who is rich and who isn't but that some are allowed to take advantage of, own something that others feel is common property. The waterfront isn't something to be divided for the appreciation of a few people's condo's but is an asset that should benefit the whole city. Waterfront condos ar efine, but when they choke out the rest of the city from appreciating from it then we have a problem.
The waterfront Village does just that, you have wonderful waterfront properties that only those few people who can afford to live there get the benefits from. No one is saying stop developing the waterfront and bringing people into the city for condo's but the rest of the city should be allowed access as well.
The west side lost much of its appreciated value once the 190 was build for suburban commuter traffic. Downtown is the same way. The waterfront is a resource that should increase the value of the whole city, not just the 200 people that call the waterfront village home.
Other cities have done this, Portland, Seattle, Chicago, Cleveland, Pittsburgh, Boston, Baltimore all have invested heavily in PUBLIC amenities for their waterfronts. The results of which are neighborhoods that either near or far holistically grew in value because EVERYONE had access to these amenities. Our waterfront village benefits NO ONE except those that live there. It was short sighted planning that looked for the quickest return on investment and therefore the rest of the city isn't benefiting from what could have been developed along the closest accessible waterfront to our downtown.
Report this
Martin
What part of the waterfront is does not have public access? we have a tiny development around a man made marina that has some condo's on it. From the point near "the hatch" all way to Lakawana [?] as far as I know is wide open public space to date. Also. from what I can tell is the whole inner harbour development is going in the same direction as places such as Boston and Baltimore....public arena's. Even in those cities, there is still some private develpment along the water.
Report this
sbrof
I agree much of the outer harbor was in the hands of the NFTA, Coast Guard or private entities (freezer queen, cargills). They all had fences and no trespassing signs up. hardly public access The new inner harbor plan is going to be the perfect balance on public and private space I don't argue there.
But the Erie Basin marina area has long been dominated by exclusive use condo's or parking for the boat slips or the Shanghai reds, crawdaddy's site. still not public. The little slice of public use space that wasn't a parking lot received and continues to be a very popular destination. The Hatch, and its bike path - veterans memorial park etc.. This is still mostly new in terms of public access to the waterfront. walk past the waterfront village sign and you will find it hard to even see where the water is as the condo's have claimed the shoreline for that whole stretch.
Our inner harbor will correct a lot of wrongs when done. But for 20 years there was little to no actual public spaces worth going to on the downtown waterfront.
Report this
BuffaloNY
You're right carlmalone, [deleted: hateful rant] Get a life, get a job. Do you have no self-respect that you can't work? Did your mommy and daddy really spoil you that much. Your time will come and you will be a poor, uneducated bum wishing you did something with your life.
Report this
DumpsterKid
Better than Lincoln, really?
Report this
gaustad
BuffNY - take it easy on the poor guy -
Report this
magnum
Carl P. should go to Toronto's waterfront to see how nice water front condos can be. Just my opinion. me not like the look of this one.
Report this
carlmalone
Hey BuffNy: Summertime and the living is easy....catfish are jumping.....
Report this
ChocolateShake
Carl the playa? Sounds more like {edit, slanderous}
Report this
impressingagent
how important is it for you to tell us how little you do? Buy some more time and have it mean something.
Report this
newskylinebuffalo
Well, it's great to see a new condo tower go up, we haven't seen this for a while now. Is this gonna do anything for the skyline? Man we really need to get something going on hear. Bashar loser is never gonna get his city tower built now, what a shame, I really thought that it was gonna happen, until the last possible thing happened that made everything meaningless. Ahh well, back to reality in Buffalo I guess, untill maybe some day......
Report this
RLC
This Waterfront tower is looking GREAT! I drove around this morning and visited the Marina, the casino site, and the 200 Delaware area.....BUFFALO IS COMING ALIVE!!! think about it, cranes are in the air and the sounds of equipment are being heard. The new Buffalo is beginning to take shape! Now, lets hope the new owner of the Adam's Mark Hotel see's it necessary to build a new hotel on that site. They have to keep up with the new seneca hotel that is underway!
What is the latest news on Buffalo City Tower?
Report this