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Adaptive Reuse Funding Available

The Buffalo Urban Development Corporation is accepting applications to financing through the Buffalo Building Reuse Loan Program. The program provides gap financing for downtown area development projects of up to $750,000 at a maximum 54 months. Proposals are due June 30.

The Buffalo Building Reuse Project is a strategic plan for the revitalization of downtown and looks to reduce the number of vacant and underutilized properties through mixed use development, boost residential infill and improve downtown infrastructure and the public realm. The target area includes the Central Business District as well as Buffalo Niagara Medical Campus, Canalside and Larkinville. Its focus is on:

  • Adaptive reuse of vacant or underutilized Class B & C commercial structures or new construction on vacant lots in strategic locations;
  • Mixed-use projects with a significant proportion of residential units, and that include a storefront or first-floor retail use;
  • Target investment areas within downtown that will leverage existing residential developments or other anchor economic drivers to begin to create the critical mass necessary to support new retail and other neighborhood services and amenities; and,
  • Projects that are proximate or linked to public transit facilities and/or that provide opportunities for other sustainable transportation modes.

Original program funds were provided by Empire State Development Corporation’s City-by-City Program. The program’s funding availability has since been expanded due to contributions from Evans Bank, First Niagara, HSBC, KeyBank, M&T Bank and the New York Business Development Corporation following a collaborative effort between BUDC, the Buffalo Niagara Partnership and the City of Buffalo. $8 million in funding is currently available.

Get Connected: BUDC, 716.856.6525

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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