News: Brokerage

Ribbon cutting held for the $7.5m Sycamore Village

Mayor Byron Brown was joined by Ellicott district council member Brian Davis, other elected officials and project partners to officially open the city's newest neighborhood, Sycamore Village. The plan for the new $7.5 million project included the creation of a pedestrian friendly, park-like community of 24 new homes, comprised of 20 market rate homes and 4 low to moderate-income units. "I'm very pleased that this project progressed so smoothly from the groundbreaking last year to today's opening ceremony," said Brown. "Of the fifteen homes built so far, nine are already spoken for. We have followed an aggressive marketing plan that is focused on selling the remaining homes as quickly as possible. From the beginning, we had future homeowners interested in these new properties well before a shovel was put in the ground. I am extremely proud of this project, which offers a whole new residential living experience in the heart of the city." There are a total of nine different styles of homes in Sycamore Village, each with three or four bedrooms and sized between 1,400 to 1,800 s/f. "Downtown Buffalo, in recent years, has become one of the fastest growing neighborhoods in WNY," said Brian Reilly, commissioner of economic development, permit and inspection services. "This is a great example of how the city is remediating our brownfield properties and reusing the properties for projects that are now in demand." Over $1 million for environmental cleanup efforts at the formerly industrial Sycamore Village site was contributed though NYS's Environmental Restoration Program. Site cleanup efforts included demolition of some on-site structures and extensive soil remediation activities. James Rykowski, regional director for CPC's WNY office, said, "CPC is delighted to have provided the financing for this important residential project, which is adding to the continued growth and vitality of the city's East Side. Mayor Byron Brown and BURA are to be commended for their commitment to transforming a vacant site into a thriving and vibrant new community." Ellicott district councilmember Brian Davis said, "The Sycamore Village housing development will stabilize a community which has been in transition for years, thus bringing about the opportunity for further development projects."
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
A guide to finding the right NYC property management company - by Sanjay Gandhi

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Positive forecast for New York’s pro-housing push? - by Philip Butler

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of