The Erie Canal Harbor Development Corporation has selected Sinatra & Company Real Estate as preferred developer for two parcels on the South Aud Block, adjacent to the Explore & More Children’s Museum. Sinatra’s “Heritage Point” would include two buildings of up to five stories and include 71,000 square feet of retail and office space along with 41 market rate and affordable apartments. They would be built on Parcels A2.2 and A2.3 below.
“Sinatra & Company’s planned buildings will further activate the site and diversify the neighborhood offerings, attractions and opportunities at Canalside, while retaining historic touches,” said ECHDC Chairman Robert Gioia. “Heritage Point will serve as a catalyst for additional investment in Canalside and fuel further economic growth in the City of Buffalo.”
“The vibrancy at Canalside is palpable,” said Sinatra & Company Real Estate LLC President and Founder Nick Sinatra. “The leadership at Erie Canal Harbor Development Corporation has been instrumental in creating a vibrant destination to date, and we feel incredibly excited to make our mark to Canalside with the integration of additional hospitality, office and now residential options.”
ECHDC issued an RFP in July 2017 for the sites with six developers attending a pre-bid meeting and three submitted proposals from Douglas Development, Savarino Cos., and Sinatra.
The land will be sold to Sinatra for $1 and will receive $2 million from ECHDC for capital construction costs related to the Prime Slip and sections of Lloyd Street and Canal Street rights-of-way and canal lighting. Sinatra will also receive a $2 million loan from the Better Buffalo Fund.
Sinatra intends to complete the project in May 2020 and has secured parking for the project in HARBORCENTER across the street. Fontanese Folts Aubrecht Ernst Architects, the same architect of the Children’s museum, is designing the project.