At this stage of the game, we all know how tough it is to find a house in Buffalo, from Canalside to Kenmore, and from the Niagara River to Main Street. I’m not talking about a fixer-upper or a triple, I’m talking about a single (or maybe even a double), in nice shape and “move in ready”. We see the bidding wars. We know that cash is king. There are still countless people who want to live in the city, but there’s a dearth of houses for sale, which stinks.
When people talk about Buffalo’s population loss, and then how hard it is to find a place to live in the city, it’s frustrating. As soon as a new residential complex is built, it fills up. Other than the East Side, there are property battles underway. South Buffalo is starting to buzz these days, and Riverside is seeing some action. The renaissance is underway, and property values are hot. It’s a seller’s market to be sure. And unfortunately, most of the residential opportunities are rentals, with few condo/townhouse opportunities at hand.
That said, there are some opportunities to be had, though not necessarily traditional in nature. I’m talking about the “build to suit” scenarios that pop up here and there. The property in the lead image is located on Connecticut Street, a hop and a skip from Richmond Avenue. The beautiful thing about this corner lot is for someone to build his or her dream house, possibly with a mixed use angle (although a variance would be required). All around this corner is great architecture, Grassroots Gardens, bike lanes, and even restaurants. Connecticut Street continues to blossom, which is why this is such a fabulous opportunity to build a “dream house”. I can picture a modest modern house at this corner – maybe even a prefab house, which would ease the woe of the property purchase price.
While the lot is not cheap, going at $119K, with a variance this could be a sensational corner for someone to do something very creative. Now that the Green Code is in place, there are fewer issues pertaining to setbacks and parking requirements per unit. But it’s going to take the right creative visionary to do it up right, whether that means purchasing a prefab house, or applying for a variance and building a mixed use structure with commercial on the ground floor and townhouses above.
One thing is for certain, this corner deserves something super. Connecticut is a wonderful street filled with so much more potential than has already been realized.
Get connected: Nicholas Giambra – Keller Williams | 716-239-6432