News: Brokerage

Dormitory Authority of the State of New York completes $16 million renovation of Tower Three at SUNY Buffalo State College

Buffalo, NY According to governor Andrew Cuomo, the $16 million project to renovate Tower Three at SUNY Buffalo State College has been completed. This project is part of $73 million in capital renovation projects the Dormitory Authority of the State of New York (DASNY) is completing on SUNY campuses statewide. The project was financed through DASNY’s SUNY Dormitory Facilities Program, which issues low-cost, tax-exempt bonds supported by student residence hall fees.

“Higher education is one of the most important investments we can make in our communities and our state,” governor Cuomo said. “By providing campuses with state-of-the-art facilities like the revamped Tower Three at SUNY Buffalo to house and teach future leaders, we can ensure the Empire State continues attracting the best talent.”

This is the third tower capital renovation project DASNY has completed for the college. The project was completed in time for the start of the fall semester. DASNY’s work included modernizing 36 suites, which house six students each. The suites received fresh paint, new built-in wardrobes in the bedrooms, luxury-vinyl tile floors, and upgraded television and Wi-Fi access. Suite bathrooms were completely transformed, embracing privacy, while taking on a more residential-style look and feel. Students will notice contemporary new finishes, ceramic tile floors and walls, and new solid-surface showers and countertops.

On the 10th floor, a new lounge boasts views of the city, in addition to amenities such as a new kitchen, lounge seating areas, work spaces, and bathrooms. A similar lounge is located on the first floor along with a handicap-accessible bathroom, new staff offices and finishes throughout, as well as a two-bedroom apartment for the resident director.

In the basement, students will find a new laundry room with washers and dryers, as well as a computer room equipped with power and internet connectivity.

New heating and ventilation systems were installed to ensure safe and healthy building conditions are achieved. All the residences mechanical equipment, generator, electrical, and fire alarm systems have been modernized and upgraded to meet clean air and lead-free water standards.

The Tower Three project was constructed to LEED-Silver standards. Some of the LEED elements include equipping bathrooms with water-efficient plumbing fixtures to reduce indoor water usage, energy-saving LED lights and low mercury lamps, and a bicycle storage area to reduce the need for automotive transportation. As of August 20, 2019, 46 DASNY projects have received a rating of LEED Certified or better, helping to reach statewide energy goals to build a clean energy future for all of New York State.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced