McCar­ley Gar­dens, Emer­son projects up for low-in­ter­est loans

The Buffalo News - - BUSINESS NEWS - By Jonathan D. Ep­stein NEWS BUSI­NESS RE­PORTER

City of­fi­cials are eval­u­at­ing whether to grant low-in­ter­est loans of $750,000 each to a pair of pro­pos­als to re­de­velop the McCar­ley Gar­dens hous­ing project near the Buf­falo Ni­a­gara Med­i­cal Cam­pus and con­vert the his­toric C.W. Miller Livery build­ing in down­town Buf­falo into a sec­ond Emer­son School of Hos­pi­tal­ity cam­pus.

The projects by Si­na­tra & Com­pany Real Es­tate and McGuire De­vel­op­ment Group are un­der re­view as part of the Buf­falo Build­ing Re­Use Project, a loan pro­gram ad­min­is­tered by the Buf­falo Ur­ban De­vel­op­ment Corp. to en­cour­age re­de­vel­op­ment of ex­ist­ing but un­der­used build­ings in the city’s core. They are the lat­est in a string of ini­tia­tives that have re­ceived sim­i­lar fund­ing from the loan fund backed by sev­eral banks.

The projects to­tal more than $70 mil­lion in in­vest­ment in the city.

Si­na­tra plans to ren­o­vate 135 hous­ing units and build 15 new units, cre­at­ing “an af­ford­able ur­ban neigh­bor­hood rem­i­nis­cent of other quin­tes­sen­tial Buf­falo neigh­bor­hoods,” ac­cord­ing to a BUDC sum­mary. Construction on the $40 mil­lion project to trans­form the 40-yearold com­mu­nity would be­gin in sum­mer 2018, with com­ple­tion in sum­mer 2019, but of­fi­cials will use the 15 new apart­ments as “swing” units so that no one would be per­ma­nently dis­placed. The project is lo­cated at 818 Michi­gan Ave. and 172 Good­ell St.

Mean­while, McGuire – in part­ner­ship with de­vel­oper Mark Croce – wants to un­der­take a $30.45 mil­lion adap­tive re­use of the for­mer horse sta­ble build­ing at 73-75 W. Huron St. to add a sec­ond Emer­son site, which will ed­u­cate and train 500 stu­dents in hos­pi­tal­ity fields. The sec­ond lo­ca­tion will back up against the school’s cur­rent lo­ca­tion on West Chippewa Street to cre­ate a uni­form cam­pus. It also will be linked to Croce’s Cur­tiss Ho­tel.

The 80,000-square-foot, six-story build­ing will in­clude a pub­lic res­tau­rant space, a pri­vate din­ing room, freight ser­vice el­e­va­tors, dis­tri­bu­tion space for sup­plies, a ban­quet and spe­cial-event space, food prepa­ra­tion and serv­ing space, a bak­ery and other school fea­tures such as a gym­na­sium, lock­ers and class­rooms. There will also be one or two res­i­den­tial apart­ments.

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