BUFFALO, N.Y. (WKBW) — Buffalo Mayor Byron W. Brown and the Buffalo Municipal Housing Authority (BMHA) Board of Commissioners announced actions have been taken so that the first phase of the Commodore Perry redevelopment project can begin.
The list of approvals included:
- Ground lease with Perry Homes I LLC and the Perry Homes 1 Development Fund Company, Inc.
- Formation of affiliates to handle funding, construction, and management of the new residences
- Easements for demolition, land clearing, and staging and storing of construction equipment and materials.
Officials said the project will begin with the demolition of 24 vacant apartment buildings.
City of Buffalo and BMHA
It will include 24 two- or three-story townhouse and residential walk-up buildings, and three five-story buildings along South Park Avenue and Louisiana Street, with 212 one- and two-bedroom units.
City of Buffalo and BMHA
City of Buffalo and BMHA
City of Buffalo and BMHA
When complete, it will feature 405 residential units in 27 buildings, with 8,000 square feet of commercial space.
“This is a huge step forward in our journey to revitalize this area. The demolition of the BMHA Commodore Perry buildings clears the way for a better quality of life for the residents in this area. I am proud of the work the BMHA and our Office of Strategic Planning have done to move this project forward.”
- Mayor Brown
“This is a massive and complicated project which involves multiple public and private funding sources and local, state, and federal government approvals to bring 405 units of modern, affordable housing to a completely reconfigured site. Today’s board actions bring three years of ambitious planning with our developer, Pennrose, LLC, with input from Perry residents to the starting line of the physical work.”
- BMHA Executive Director Gillian D. Brown
A breakdown of the funding going to the project was provided by officials:
- $205 million in New York State Housing Finance Agency and New York Division of Housing and Community Renewal loans, plus a New York State Low-Income Housing Tax Credit Program equity contribution,
- $6.1 million in grants from the City of Buffalo through ReStore NY and Community Block Grant programs,
- $98 million from the Federal Low-Income Housing Tax Credit Program,
- $6 million in Capital Funds from the BMHA,
- $5 million in Department of Housing and Urban Development RAD Rehab Assistance aid, and,
- $1.6 million in federal energy-efficient homes funds
