Competing Developers team up to take over former Children’s Hospital site


Competing Developers team up to take over former Children’s Hospital site

BUFFALO, N.Y. (WIVB) – News 4 is learning more about what will happen to the historic Women and Children’s Hospital building on Bryant Street.

After a whirlwind, 12-hour move on Friday, it’s down to the last pieces of equipment.

The “We’ve Moved” signs are up outside of the former building.

Now, two major development companies are teaming up to take over the building.

Kaleida Health initially selected Ciminelli Real Estate as as the designated developer in June of last year, but the parties couldn’t come to an agreement after a year.

Now Sinatra & Company Real Estate and Ellicott Development will work together on the project.

Amy Nagy with Sinatra & Company Real Estate says her team is working  to finalize plans for the former site. She said, “We’ll have condominiums, town homes, you’ll have apartments.”

That includes seven buildings, and parking lots stretching over three city blocks.

It will be a true mixed use facility, which will include retail, a day care center, a hotel and even a grocery store.

She said, “We don’t see obviously a large mega-grocer filling this, but as being something that is a community amenity.”

This will become a largely residential property. Most of the existing buildings will be retained, not demolished,

Important to the neighbors who live here.And Developers say those opinions are being heard.

Nagy said, “We know how important it is to have an active, long conversation with direct neighbors the Elmwood Village at large, and then certainly this is a large project within the city of Buffalo.”

Nagy is concerned about the federal tax plan to cut the historic tax credit, it’s something that would likely raise rental rates and impact development.

She said, “Our buildings here in Western New York are truly treasures but they are very, very expensive to rehabilitate. Those tax credits have truly made a lot happen.”

But even if the tax credits cease to exist, Nagy says the project will still move forward.

The developers expect the project to cost between $75 million and $100 million dollars. Construction is estimated to be complete in three to four years.

The team will know more about design and layout after the first of the year.


Source: Buffalo New York’s Latest News
Competing Developers team up to take over former Children’s Hospital site

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