Cedarland Development held a ceremonial groundbreaking yesterday for its redevelopment of the former Eckhardt’s and Kobacker’s department store at 950 Broadway at Fillmore. The $13.5 million project will renovate and convert the 50,000 square foot, vacant and underutilized building into a mixed-use development, featuring 28 affordable housing units, a free Head Start child education program and a proposed indoor urban farm. The building has been unused for 18 years, with portions of the building being vacant for decades prior.
“The groundbreaking for 950 Broadway today is a new beginning for this long vacant, prominent structure in East Buffalo,” Governor Hochul said. “Once a blight on the Broadway-Fillmore neighborhood, the historic building will now be a community anchor and catalyst for economic development. Homes will be made here, and we look forward to welcoming new neighbors to the Buffalo community.”
Governor Hochul previously announced 950 Broadway LLC was chosen with 10 other transformational projects in Buffalo’s Broadway-Fillmore neighborhood as part of a $10 Million Downtown Revitalization Initiative Award.
The building will contain 28 affordable apartments and a Head Start children’s education program run by the Community Action Organization. An indoor urban farm has been proposed for the building’s basement. Apartments in the building will include ten studio apartments, 12 one-bedroom units and six two-bedroom units.
To assist Cedarland, New York State is providing a loan valued at $900,000 and grant valued at $1.1 million from Empire State Development’s Better Buffalo Fund to support the commercial renovations and building’s stabilization. Additionally, the project was awarded a $427,150 grant for the buildout of the daycare facilities through the Department of State’s Round 5 Downtown Revitalization Initiative for the Broadway Fillmore Neighborhood. New York State Homes and Community Renewal (HCR) is providing $2.1 million in construction and permanent financing toward the affordable housing portion of the project through its Small Building Participation Loan Program. The Community Preservation Corporation (CPC) is providing a $7.8 million construction loan, as well as a $3.2 million SONYMA-insured permanent loan financed through its partnership with the New York State Common Retirement Fund. In addition to the developer’s contributions, over $2.9 million in Historic Tax Credit Equity and additional incentives from National Grid round out the project’s sources. The State of New York Mortgage Agency’s Insurance Fund is providing mortgage insurance on CPC’s permanent financing.
The Art Moderne building — with its rounded facade of granite, terra cotta and stainless steel — was designed by architects Bley and Lyman and built in 1940 as a department store. From 1940 until 1957, the building operated as a department store. Later, it served as office space for the State Department of Labor.
“950 Broadway represents not just a building but a commitment to revitalizing our community. We are dedicated to addressing the community’s needs by delivering essential neighborhood services and affordable housing projects in collaboration with our community partners and elected officials,” said Cedarland Development Group Founder Dr. Fadi Dagher.