Byron Brown, Mayor of BuffaloThroughout the City of Buffalo, a continued change and positive transformation is evident. Buffalo continues to attract global attention with nearly $5.8 billion in economic development activity underway, with over $3 billion of this development occurring in downtown Buffalo.
As mayor of the City of Buffalo and chairman of Buffalo Urban Development Corp. (BUDC), I am dedicated to continuing this momentum through initiatives and projects that improve the downtown core, making it a 24/7 live, work and play destination that is ripe for continued investment and development.
Downtown Buffalo has recently become the home to Fortune 500 Company IBM, as well as HARBORCENTER, 250 Delaware, Conventus and the upcoming UB school of Medicine. The adaptive reuse of historic properties, new construction projects and Canalside–downtown Buffalo’s vibrant waterfront destination that drew nearly two million visitors last summer–have helped to bring added vibrancy and attractiveness to the downtown area.
Downtown’s 97% residential occupancy rate, along with an anticipated 12,000 new workers who will join the workforce by 2018, continues to make downtown Buffalo one of the fastest growing residential areas in the area. To continue the growth of our downtown neighborhood, I have set a goal of creating an additional 2,000 residential units to the downtown area by 2018. Downtown Buffalo is on track to exceed this goal, with over 1,700 units already in the pipeline.
Strategic partnerships and development tools are critical to continuing the momentum building in downtown Buffalo. Under my direction, BUDC, the Buffalo Niagara Partnership and local area banks, are also encouraging the revitalization of vacant and underutilized properties through the Buffalo Building Reuse Loan Program. This gap financing program provides up to $750,000 for the redevelopment of properties in downtown Buffalo. A Request for Proposals (RFP) was recently issued for new adaptive reuse projects seeking financing through the program. The deadline for project proposals is March 31, 2017 at 4:00 p.m. In addition this useful financing tool, a competitive collection of tax credits and incentives, grants, rebates are also available to maximize investments.
I am also committed to improving conditions for minority and women owned business enterprises (MBE/WBE) and minorities and female workers. The next phase of my opportunity agenda includes several executive orders that support equity in contracting and hiring opportunities in Buffalo, which is New York State’s second largest city, as well as the formation of the City of Buffalo Contract Compliance Committee, and the release of an RFP for an operator of the Beverly Gray Business Exchange Center, a centrally located resource center for MBE/WBE businesses.
For additional information on investment opportunities in downtown Buffalo, contact Brandye Merriweather, BUDC vice president of downtown development, at [email protected] or 716-856-6526 ext. 131.
Byron Brown is the mayor of Buffalo and chairman of the Buffalo Urban Development Corp.
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