It took five months to decide, but the Buffalo Urban Renewal Agency is expected to name Ciminelli Real Estate designated developer for a vacant Waterfront Village parcel today.
Buffalo Business First is reporting that Ciminelli beat out a competing proposal from Forbes Capretto Homes, Impacto Consulting and McGuire Development for the 2.4 acre site at 240-250 Lakefront Boulevard. Ciminelli is proposing ten townhouse
or single family homes and a 20-unit apartment condo building with underground parking. The Forbes proposal called for 14 to 16 townhomes and a four-story condo building containing between 12 and 15 units.
The vacant parcel was once targeted for anticipated future phases of the Portside and Marina Park developments. Each project stalled amid sluggish sales after just a handful of units were completed.
In 2005, Richard DiVita proposed a project for the site that was met with a thumbs down from nearby residents and the Waterfront Village Advisory Council who preferred the site be converted into a park. DiVita’s plan called for twelve high-end units in the form of two single-family homes and five duplexes priced from $500,000.
In 2007, Waterfront Medical Professionals, LLC was named developer for the site but could not carry out its plan. It was to include eight townhome units and 18 condominiums in an eight-story mid-rise building.
The $19.5 million project marks a return to Waterfront Village by Dennis Penman, Ciminelli executive vice president. In the mid-80’s and 90’s Penman spearheaded the 56-unit Rivermist project for MJ Peterson Real Estate. Penman was also with MJ Peterson in 1995 when the firm proposed 40 “city homes,” detached units with courtyard-like yards, for a parcel where Waterfront Place now stands.
Ciminelli officials say they will be working with neighboring residents on the design and layout of the development. Preliminary plans call for the condo building to be located between the Marina Park development and Portside’s reflecting pond setback with a setback from the water’s edge. The townhouses would line Lakefront Boulevard across from the Breakwaters condominiums. Carmina Wood Morris is designing the project. The Buffalo News has some details on size and pricing:
Tentatively, the units would sell for an average of about $650,000, but ranging from $500,000 to $750,000 each, depending on the type of unit, Penman said. The mid-rise units would be traditional condos of 2,500 to 3,000 square feet, with underground parking, while the three-story townhouses would be 2,800 to 2,900 square feet, with attached two-car garages.
Pending approvals, work could begin late this year. Ciminelli reports strong interest from potential buyers.