Ciminelli Real Estate Corporation has announced it has completed the purchase of 11 parcels located along Bidwell Parkway, Elmwood, Potomac and Ashland Avenues for a cost of $7.9 million. The parcels were purchased from long-time owners Don and Lori Leone in September. This purchase, in two separate transactions by Ciminelli’s Elmwood Bidwell Redevelopment Company LLC, is related to the developer’s proposed mixed-use development for the Elmwood Village location.
“We are very excited about our plans to advance another unique and iconic urban project here in Western New York,” said Anne Duggan, Director of Marketing and Public Relations for Ciminelli Real Estate Corporation. “This closing is a positive next step in the development process, as we continue to solicit public feedback in shaping the details and design.”
The proposed project is intended to enhance the character and vibrancy of the surounding neighborhood, while offering new retail, residential, and parking opportunities.
Given the project’s marquee setting in the heart of the Elmwood Village, company representatives initiated a yearlong community outreach effort in late-2015, in order to engage local residents and interested stakeholders, as well as ensure robust public inclusion in the development process. As a result of this input, the company intends to present its overall project plans via community forum in the very near future.
“Ciminelli Real Estate Corporation is very much aware that our project really needs to complement the existing neighborhood and reflect the vibrant urban commercial and residential setting where these properties are located,” continued Duggan. “It’s with this in mind that the concept was born, and is also exactly the type of approach we, along with HHL Architects, have taken in pursuing it.”
This is the second major project Ciminelli Real Estate Corporation has planned for Elwmood Village. In June, Ciminelli was selected to redevelop the Children’s Hospital site.