Medaille College is planning to purchase one of the tallest non-downtown buildings on Main Street. The private, nonsectarian, co-educational institution has reached an agreement with the Buffalo Municipal Housing Authority to buy the LBJ Apartments on Main and Humboldt Parkway. Medaille plans to convert the senior apartment building into a mix of dorms and administrative space. That is if the US Department of Housing and Urban Development signs off on the deal.
The 206 unit, 10-story building was constructed in 1973 and is located adjacent to the college and the Humboldt-Hospital light rail station. Medaille has offered $3.5 million for the property. The college’s enrollment has increased to over 3,500 students across three campuses with 420 students living in campus housing, up percent from 2005-06.
Amazingly, despite vacant units in existing BMHA developments, the authority feels compelled to replace the units thru new construction. BMHA is working with EI Team and Centerstone Development to build a new senior apartment project. A location at Main and Amherst streets is reportedly being targeted.
BMHA manages 27 developments within the city with 4,307 housing units. The agency also distributes 1,372 Section 8 housing vouchers according to its website. Tenant’s rent is never more than 30 percent of gross income.