MDG, Smith & Henzy Advisory, and KMX Group complete $25 million redevelopment project in Buffalo

November 19, 2019 - Front Section
Piotr Stadnitski Gardens - Buffalo, NY

 

Riverview Manor Apartments - Buffalo, NY

 

Buffalo, NY The $25 million renovation and preservation of Buffalo’s Riverview Manor Apartments and Piotr Stadnitski Gardens has been completed. Together, the developments offer 210 affordable homes for seniors and people with disabilities and also provide social service support programs. The developers are MDG Design + Construction, LLC (MDG), Smith & Henzy Advisory Group, Inc., and KMX Group. 

Piotr Stadnitski Gardens, located at 100 Beck St., is an 11-story building with 100 one-bedroom apartments. Riverview Manor Apartments, located at 8 Hertel Ave., is a 12-story building with 110 one-bedroom apartments. 

Renovations of the buildings included roof replacement, updated elevator service, landscaping improvements, increased security measures, and new lobby and community room finishes. Individual apartment updates included new flooring and lighting, updated kitchen and bathroom appliances, and fresh paint. All renovations were completed without displacing any of the tenants.

NYS Homes and Community Renewal provided $7.5 million in permanent tax-exempt bonds, federal and state Low-Income Housing Tax Credits that generated $7.8 million in equity and $7.6 million in subsidy.

The redevelopment of Riverview Manor Apartments and Piotr Stadnitski Gardens is part of the governor Cuomo’s commitment to provide all New Yorkers with access to safe, affordable housing through his $20 billion, five-year housing plan. The plan is a comprehensive approach to statewide housing issues and includes multifamily and single-family housing and community development initiatives to make housing accessible and combat homelessness by building or preserving more than 100,000 affordable homes and 6,000 homes with supportive services. Since 2011, New York State Homes and Community Renewal (HCR) has invested over $763 million to create or preserve more than 4,400 affordable homes and apartments in the state’s Western Region, including nearly $224 million in the city to house about 5,800 people.

Both buildings were designated as affordable housing for elderly and disabled households under the federal Section 202 program. The state’s investment was used to finance the acquisition and renovation of the developments to keep them affordable and in good condition over the long term.

The apartments will continue to be covered by a project-based Section 8 Housing Assistance Payment contract with the federal Department of Housing and Urban Development to ensure that rent remains affordable for current and future tenants. All units are set aside for households with at least one member aged 55 or older, or a person with a disability of any age, with incomes at or below 60% of the Area Medium Income.

Riverview Manor Apartments is on the Niagara River waterfront, adjacent to the Tow Path Park, with the Niagara Thruway (I-190) to the east. Several public bus routes run near the property. Piotr Stadnitski Gardens is east of downtown in the Broadway/Filmore neighborhood. Several public bus routes have local stops just to the west and south of the building.

Social service support for tenants of Piotr Stadnitski Gardens is provided by People Inc., which assists the residents with financial stability, social connections, health and wellness programs and access to community-based support services. On-site services include help in obtaining benefits and entitlements, referrals to community support programs, education, monitoring of need and follow-up. Riverview Manor Apartments residents also receive help with certifications for public benefits and referrals to the appropriate agencies to better assist their specific needs.

“As Buffalo continues to grow, it’s important that we improve the housing stock and make it possible for all residents to share in the city’s revival, especially seniors and people with disabilities living on fixed incomes,” governor Cuomo said. “Riverview Manor Apartments and Piotr Stadnitski Gardens offer affordable homes that can make all the difference to the health, security and peace of mind for Buffalo’s seniors.” 

HCR commissioner RuthAnne Visnauskas said, “The 210 senior and disabled residents of Riverview Manor Apartments and Piotr Stadnitski Gardens can now live safely, securely and affordably in newly renovated buildings with access to social services. Governor Cuomo’s commitment to seeing his ambitious housing plan through to completion, in concert with his pledge to make New York the first age-friendly state, is creating opportunity across the board for seniors and is ensuring that as we invest in cities like Buffalo, no one is left behind.”  

Commissioner of the New York State Department of Health Dr. Howard Zucker said, “Renovating these buildings and keeping them affordable to Buffalo’s lower-income seniors will improve the residents’ standard of living, without increasing their housing costs. Governor Cuomo’s Age-Friendly State and Health Across All Policies initiatives are helping older New Yorkers remain in their communities, close to friends, family and services, improving their health and quality of life.”

Michael Rooney, Jr., principal of MDG Design + Construction, said, “We are thrilled to celebrate the completion of Riverview Manor and Piotr Stadnitski Gardens today, two developments that provide critical affordable housing to the Buffalo community. As our first project in the Upstate region, we are grateful to our incredible partners at HCR, Smith & Henzy, and KMX who share our passion and enabled us to bring our experience and resources to Buffalo. The renovations to apartments and shared spaces will ensure residents have safe and quality homes they are proud to live in.”

Tim Henzy, principal and owner of Smith & Henzy Advisory Group, said, “Smith & Henzy is honored to be able to be a part of the extraordinary redevelopment of Buffalo. We appreciate the contributions from both the city of Buffalo and NYSHCR.  We extend our gratitude to the staff of both entities for their assistance with our project.”

Rhonda Frederick, president & CEO of People Inc., said, “People Inc. is proud to bring our long history of supportive services for older adults to the Piotr Stadnitski ‘family.’ When RM & PSG Developer LLC approached us about being part of this exciting community, we jumped at the chance. This is a group who truly cares about their tenants and strives for exceptional quality housing and support services. They have certainly succeeded with that goal. Congratulations!”

Tags:

Comments

Add Comment


More from the New York Real Estate Journal