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Siano Building Officially Opens

You would be hard-pressed to find a better, recent infill project in the city than the Siano Building at 363 Grant Street. The three-story stunner was officially opened yesterday. The $2.3 million Better Buffalo Fund project transformed a vacant lot into a 12,600 sq.ft. mixed-use building consisting of retail space and 11 apartments.

“The Better Buffalo Fund of the Buffalo Billion focuses on neighborhood revitalization as a key element of the city’s economic and civic renaissance,” said Lieutenant Governor Kathy Hochul, who attended today’s ribbon cutting. “With a $440,000 grant, we have leveraged a $2.3 million investment that fills a vacant lot, adds to the vibrancy of the Grant Street corridor and confirms Governor Cuomo’s economic strategy for Western New York. I thank and congratulate developers Matthew and Chris Siano for their vision and commitment to our city.”

The John Wingfelder-designed building has an exterior design and finish that includes brick and architectural precast concrete, projecting elements like fixed storefront canopies, bay windows and building cornice. BRD Inc. was the general contractor.

HES Properties I, LLC, a community-minded development team comprised of two brothers, Chris and Matthew Siano, received a $440,000 BBF loan for costs related to the construction of the mixed-use building. The BBF is a $40 million Buffalo Billion initiative dedicated to projects that encourage density and growth along transportation corridors and revitalize neighborhood commercial districts, encouraging alternative transportation and walkability.

As a 60+ years resident of this neighborhood, I want to thank you for adding such a beautiful new building to Grant Street.- RY, Facebook comment

Yes, beautiful from 70+ west sider. – MM, Facebook comment

The building at 363 Grant is the second project on Grant Street to be taken on by the Siano brothers. The former Phil Martino’s West Side Appliance and Furniture building was renovated into 2,000 square-feet of commercial space and two market rate apartments. The Siano brothers also have plans to turn two vacant city-owned parcels at 382 and 386 Grant Street into more commercial space and apartments.

“Matt and I are extremely proud of our latest investment into this ascending neighborhood,” said Chris Siano. “We learned a lot on this project, and we look forward to continuing to work with our design and build teams, the City and hopefully the State as we continue to invest in Grant Street in the years ahead.”

One bedroom, one full bathroom units range from $925 to $1,100 per month. Two bedroom, two full bathroom units are $1,500 per month. Rents include heat, AC and water. Tenants pay electric. Apartments feature 10 foot ceilings, hardwood floors, stone counter tops and geothermal heat. Laundry facilities and bike storage is available on the ground floor.

The ground floor commercial space is available. It totals 2,500 sq.ft. but can be subdivided.

Get Connected: HES Properties email.

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Written by Buffalo Rising

Buffalo Rising

Sometimes the authors at Buffalo Rising work on collaborative efforts in order to cover various events and stories. These posts can not be attributed to one single author, as it is a combined effort. Often times a formation of a post gets started by one writer and passed along to one or more writers before completion. At times there are author attributions at the end of one of these posts. Other times, “Buffalo Rising” is simply offered up as the creator of the article. In either case, the writing is original to Buffalo Rising.

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  • HousingBubble2

    This looks like a hospital on the inside. $1500 to live on Grant Street with no amenities? I wish them luck. This is still a very tough neighborhood that has not been gentrified

    • Kevin Ryan

      Then don’t move there

    • No_Illusions

      Except you know the Gypsy Parlor across the street, and Westside Bazaar, Sweetness 7 and Guercio’s Market down the street.

      Not to mention a few other restaurants, shops and a book store.

      Just a 15 minute walk to Elmwood Ave or Niagara Street.

      More to come as the neighborhood develops. Has to start somewhere though.

      It already has more amenities than East Amherst.

      • Josh Robinson

        And Public Espresso will be opening on this block shortly.

      • FreedomCM

        If only it had the low crime and schools of East Amherst….

        • TJ

          Hopefully, suburban cowards will never feel safe in the city.

          • FreedomCM

            Yes, let’s hope that they don’t patronize restaurants, bars, theater, and arts inside the city limits. We wouldn’t want that dirty suburban money

          • TJ

            I would prefer it if the feral crackers of the suburbs kept their drug problems out of my neighborhood.

        • No_Illusions

          The residents who move here are already probably patronizing Sweetness 7, Westside Bazaar and Resurgence Brewery and are not afraid of a little crime like residents of East Amherst are in their bubble.

          Also, crime is down significantly in the city. Neighborhoods change.

          This project isn’t meant to appeal to bland McMansion dwellers within walking distance of nothing.

    • breckenridge

      $1500 is for a 2 bedroom, 2 bath – likely a roommate setup, so $750 each. That is pretty affordable in today’s market, especially for a quality new build like this that also includes heat and AC.

    • Mr. B

      “This looks like a hospital on the inside.”

      How many hospitals have you seen that have no ER or ICU facilities, with first floor retail?

      .

  • Michael DiPasquale

    Looks beautiful. Nice job inside and out.

  • breckenridge

    Gorgeous building – I am surprised this wasn’t getting more coverage other than the one previous BR article I remember when it was nearly completed. More new builds should look like this.

  • Fly Street

    Very nice! Now is the time to invest in Grant Street, as Buff State expands west, and Hotel Henry has come online. It is still a tough neighborhood and will need continued investment. I look forward to seeing this place 100% occupied and more projects in the future by this team.

    • No_Illusions

      Not to mention Niagara Street expanding East

  • NorthBuf

    Buffalo needs a couple dozen more similar infill projects like this, looks great.

  • bufforward

    Geothermal heat? Very cool.

  • FreedomCM

    Looks great.

    Does anyone know what the absorption rate for all of the new $1k-$2k apartments coming online are?

    Anecdotally, the Bosche lofts building on main at allen appears to be only 50% leased after a year

    Are other higher end places struggling to fill?

    • No_Illusions

      I mean if you look at the total numbers, it’s really is not a lot of units.

      Less than 10,000 units in the past 5 years. Not bad considering most Buffalo apartments have not been updated since 1990.

  • This project is so good that I thought it was a conversion or something whenever I’d drive by.

    • Johnny Pizza

      Is there even parking on site? And as to other developers taking note, don’t count your chickens before they hatch.

      • Not sure

      • townline

        Run the numbers on this project. There is a reason no developers are doing this. Regardless, its a fantastic product.

        • Captain Picard

          Can you elaborate? I’m just curious about the numbers and why you think they don’t work. My figures show positive cashflow.

  • Better Places

    Nicely done!

  • eagercolin

    One inevitable result of projects like these is the displacement of current neighborhood residents. That seems like an odd thing for the government to subsidize.

    And now, cue comments about how renters are nothing but flotsam to be carried to worse neighborhoods by the unquestioned good that is the market.

    • Mr. B

      “One inevitable result of projects like these is the displacement of current neighborhood residents.”

      The only thing displaced by this project was a vacant lot . . .

      .

    • townline

      1 – This was built on a vacant lot.

      2 – This project was not subsidized, it received a LOAN from NYS that must be repaid, not a grant.

      3 – To be honest, projects of this scale, not in optimum neighborhoods are not really feasible in Buffalo. I keep doing the math on it and I can’t figure out a pro forma that works – not without the owner shelling out some really unusual equity – like well over 50%. And even then, the ROI doesn’t look to exciting. And this is with the NYS loan. Point being, these projects need A LOT of help to get off the ground, often to make peanuts.

      4 – If the theory is that any new building will cause neighboring values and rents to increase – therefore indirectly causing displacement, what on earth is your solution? Continue to dis-invest in impoverished neighborhoods until they completely rot? A project like this can not, in any way, sustain lower rents than it has (frankly, I’m not sure how they’re doing it with rents as low as they are compared with that construction cost).

      • OldFirstWard

        “With a $440,000 grant, we have leveraged a $2.3 million investment that fills a vacant lot…”

        This one from above says grant.

  • Johnny Pizza

    I like the simplicity of the interior finishes. Many new apartments focus on the highest level of interior finishes and its why they cost more than a mortgage. Keep it simple, clean and affordable and you’ll always be occupied.

    • OldFirstWard

      $1500 a month for a two bedroom apartment with a stove, refrigerator and bare minimum finishes is not exactly on the low end of renting.

  • Captain Picard

    This is my favorite new build in, well, as far back as I can remember. What a beauty.

    • OldFirstWard

      I thought you loved Dog E Style.

  • 300miles

    This building is practically perfect. Reading the comments… everyone loves it. And I’m guessing it needed no variances (or extremely few) to meet the Green Code. That’s not a coincidence.

  • Don E

    Chris and Matt did a fantastic job with th building. The neighborhood is making a comeback and this building sets the bar. Rents are very reasonable for what you get.

  • Alex Morris

    I think the rich brickwork really makes this building work. The bays with floor to ceiling glass are pretty spiffy too. It shows that simple moves can be wonderful.

  • Carolyn Goode Regan

    Great building. Rents somewhat high for this area even with uts.