equal - media.bizj.us · opportunity zone data city of buffalo area 52.5 mi² population 258,592...

MAYOR BYRON W. BROWNCITY OF BUFFALO

CITY OF BUFFALOOffice of Strategic Planning65 Niagara SquareBuffalo, NY 14202Phone: (716) 851-5224

EQUALOPPORTUNITY

ZONES

OPPORTUNITY ZONE DATA

CITY OF BUFFALOAREA 52.5 mi²

POPULATION 258,592

MEDIAN AGE 32.9

MEDIAN HOUSEHOLD INCOME $34,814

MEDIAN HOME VALUE $92,700(OWNER-OCCUPIED)

POVERTY RATE 29.6%

There are SEVENTEEN (17) Opportunity Zones within the City of Buffalo

The 17 Opportunity Zones have been organized into 10 “Zone Clusters” based on their geography, economy, land use and planning, common infrastructure and assets.

ZONE DISTRICTSBUFFALO: Urban Core, Cultural, Northland-Hospital, East Main & Jefferson, OuterHarbor, Delaware, Broadway-Fillmore, Industrial Heritage, University Heights, and West Hertel.

• 16 mi² (32% of City’s area)

ERIE COUNTYAREA 1,227 mi²

POPULATION 925,528

MEDIAN AGE 40.3

MEDIAN HOUSEHOLD INCOME $55,604

POVERTY RATE 14.6%

WHY BUFFALO?A NEW BUFFALO…ALL NEW OPPORTUNITIESFueled by tens of billions in recent public and private investment, Buffalo, New York continues to develop into a vibrant, equitable and inclusive City of Opportunity, with historic charm, diverse neighborhoods, low unemployment, a magnificent waterfront and all sorts of urban allure, from its award-winning Olmsted Parks network, diverse neighborhoods to cool hotels, with rooftop bars, trendy restaurants, and a growing craft beer industry. All of the major metrics point to a flourishing economy with increased investment and job growth. Business startups and high growth young firms enjoy low taxes, an educated and talented workforce that includes a growing millennial demographic favoring urban living. Opportunities abound in the New Buffalo. Built on a legacy of industry and commerce, Buffalo continues to maintain a strong economy and diverse workforce. Under the leadership of Mayor Byron W. Brown, Buffalo has experienced significant progress, including more than $7 billion in new economic development activity since 2006. His continued vision is of a thriving, healthy and innovative Buffalo – a city that embraces inclusiveness, equity and opportunity for all. His goal was and still is to make Buffalo a place “where no one is left out, and no one is left behind.” Affectionately known as the City of Good Neighbors, small businesses, residents and visitors enjoy unique cultural assets, world class educational institutions and parks, affordable housing and easy multi-modal travel and quick commutes. In the New Buffalo – these economic drivers and community and cultural assets have resulted in a number of highly effective and bold, new initiatives and collaborations that continue to re-invigorate our City.The City of Buffalo Equal Opportunity Zones offer an excellent opportunity for investors to further restore, enhance, and enliven this Great American City. Buffalo’s 17 Zones are urban, dense, diverse, colorful, and full of high-impact real estate projects and operating business deals. We hope you enjoy this sampling of current and potential Opportunity Zone projects in the City of Buffalo. Please also know there are many more coming, with even more to discover as we continue to build a Buffalo that’s inclusive, equitable and restored to its full greatness.

OPPORTUNITY ZONES EXPLAINEDWHAT IS AN OPPORTUNITY ZONE?An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service. Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act of 2017.

WHAT ARE THE INCENTIVES/ HOW DO OPPORTUNITY ZONES SPUR DEVELOPMENT?Opportunity Zones are designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%. Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged.

WHAT IS A QUALIFIED OPPORTUNITY FUND?

A Qualified Opportunity Fund is an investment vehicle that is set up either as a partnership or corporation for investing in eligible property that is located in a Qualified Opportunity Zone.

DOES AN INVESTOR NEED TO LIVE IN AN OPPORTUNITY ZONE TO TAKE ADVANTAGE OF THE TAX BENEFITS?An investor can get the tax benefits, even if he/ she does not live, work, or have a business in an Opportunity Zone. All an investor needs is to appropriately invest a recognized gain in a Qualified Opportunity Fund and elect to defer the tax on that gain. (IRS.GOV)

OPPORTUNITY ZONE PARTNERS ERIE COUNTY INDUSTRIAL DEVELOPMENT AGENCY COUNTY OF ERIEEMPIRE STATE DEVELOPMENTBUFFALO NIAGARA PARTNERSHIP

INVEST BUFFALO NIAGARABUFFALO LISCNIAGARA FRONTIER TRANSPORTATION AUTHORITY

RESOURCE

TAX ABATEMENTS

MORTGAGE RECORDING TAX EXEMPTION

NYS SALES TAX EXEMPTION

FOREIGN TRADE ZONE

FINANCING

SPECIAL FINANCING (VALUE CAPTURE FINANCING)

BUSINESS / ENTREPRENURIAL ASSISTANCE

WORKFORCE DEVELOPMENT

BROWNFIELD CLEANUP PROGRAM(BCP)

EAST SIDE CORRIDORECONOMIC DEVELOPMENT FUND

MORE INFORMATION? VISIT:https://info.buffaloniagara.org/incentivesguide

AUTHORITY

Erie County Industrial Development Agency (ECIDA), City of Buffalo

ECIDA

ECIDA

ECIDA

Regional Development Corporation (RDC) [an ECIDA subsidiary]

Industrial Land Development Corporation (ILDC) [an ECIDA subsidiary]

ECIDA, City of Buffalo

43 North, New York State, StartUp NY, ECIDA, City of Buffalo, Beverly Gray Business Exchange Center, Small Business Development Center

Buffalo Employment and Training Center, Northland Workforce Training Center (NWTC), University at Buffalo’s Educational Opportunity Center (EOC) New York State Dept. of Environmental Conservation (DEC)

Empire State Development (ESD)

US DEPT. OF TREASTUERY OPPORTUNITY ZONE SEARCH MAP:https://www.cims.cdfifund.gov/preparation/?config=config_nmtc.xml

DESCRIPTION

Payment In-Lieu of Taxes (PILOTs) Term-limited reduction of property taxes on the added-value of property improvements. Some tax abatements available as-of-right.

A one-time exemption of the NYS and local mortgage recording fee ¾ of 1% of mortgage amt.

Sales tax abatement on construction materials, non-production equipment

Application assistance and zone administration programs that can save thousands in duty fees

Business Loans-Small ($10k - $50k)-Large ($50k - $2M)Innovation Loan Fund-Final Stage Financing Tax-Exempt Bond Financing

Tax Increment Financing (TIF) and PILOT Increment Financing (PIF)

Business plan development, financial assistance, and training. Visit: https://www.ecidany.com/entrepreneurs-resource-list

Business plan development, financial assistance, and training

The goal of the Brownfield Cleanup Program (BCP) is to encourage private-sector cleanups of brownfields and to promote their redevelopment as a means to revitalize economically blighted communities. The BCP is an alternative to greenfield development and is intended to remove some of the barriers to, and provide tax incentives for, the redevelopment of urban brownfields.

https://esd.ny.gov/sites/default/files/Buffalo-East-Side-Corridor-Fund.pdf

LOCAL ZOING MAPS:

BUFFALO - https://bit.ly/2ZY2CCa

DEVELOPMENT AND BUSINESS RESOURCES

OPPORTUNITY ZONE URBAN CORETRACTS 165, 164

SIZE 1.79 SQ. MI.

POPULATION 4,554 (2017), 4,326 (2013) [+5%]

MEDIAN AGE 36 (2017)

MEDIAN HOUSEHOLD $47,500INCOME

JOBS 39,940 (2015), 38,567 (2011) [+4%]

TOP INDUSTRIES Public Administration (23%); Professional, Scientific, and Technical Services (16%); Finance and Insurance (12%)

INFRASTRUCTURE Lake Erie; Interstates 90 and 190; Local and Regional Bus Terminal; Amtrak; MetroRail; NYS Route 5; Buffalo River; Main, Ohio, Michigan, and Seneca Street Corridors

ASSETS Canalside; KeyBank Center and HarborCenter; Erie Community College; Sahlen Field (Ballpark); Buffalo Niagara Convention Center; Civic Node; Larkinville; Cobblestone District; Theatre District

is recognized as the TOP OPPORTUNITY ZONE FOR SMART GROWTH POTENTIAL in New York State and is ranked 5th Best in the Country by Smart Growth America.

TRACT 165

ZONE # PROJECT DEVELOPER/ OWNER PROJECT OVERVIEW

165 DL&W Station Niagara Frontier Transit Authority Transformation of over 130,000 sq. ft. of second floor former waterfront Train Terminal to vibrant, mixed- use space adjacent to Canalside and KeyBank Center above new MetroRail Station.

165 One Seneca Tower Douglas Development 38-story tower in heart of Downtown Buffalo. Residential, retail, and office. Opportunities for retail business.

165 74 Franklin – Former Buffalo PD HQ Douglas Development $30M project converting former police Headquarters into 175 one-and two-unit apartments. Major residential in heart of Downtown.

165/164 Michigan Avenue African American City of Buffalo/ESD $7M in capital improvements to anchor Heritage Corridor organizations - including Colored Musician’s Club, Nash House Museum, Michigan St. Baptist Church.

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• City’s major employment Center

• Entertainment Center

• Increasing resident population

• Transit Hub – MetroRail, Bus Terminal, Amtrak, Interstates 190 and 90

• Buffalo Building Reuse Project – concerted public-private effort to restore Downtown as a 24/7 live-work-play community through loan fund

WHY URBAN CORE?

ONE SENECA TOWER

KEY BANK CENTER

HARBOR CENTER

OHIO STREET

URBAN CORE CLUSTER

OZ Census Tracts Buffalo Parks

Conway Park

InnerHarbor

OPPORTUNITY ZONE CULTURALTRACTS 171, 610

SIZE 1.45 SQ. MI.

POPULATION 10,224 (2017), 9,762 (2013) [+5%]

MEDIAN AGE 27

MEDIAN HOUSEHOLD $29,000 INCOME

JOBS 3,568 (2015), 2,533 (2011) [+41%]

TOP INDUSTRIES Management of Companies and Enterprises (30%); Health Care and Social Assistance (28%); Other Services (8%) [ex. Public Admin]

INFRASTRUCTURE Interstate 190; Niagara River; Buffalo Sewer Authority Treatment Facility; Scajaquada Expressway (NY 198); Upper Niagara Street (NY 268), Grant Street; Elmwood Ave.; Adjacent to Delaware Park – an Olmsted Park

ASSETS Albright-Knox Art Museum, SUNY Buffalo State College, Burchfield Penny, Hotel Henry, Unity Island Park, Broderick Park, West Side Bazaar / WEDI


171 Richardson Olmsted Campus Richardson Center Corporation 93 acre, 145 yr. old former hospital complex – 1/3 recently developed into a hotel. Corporation currently seeking developer interest in remaining property.

171 Dart Street Buffalo State College Foundation Former City of Buffalo impound lot. Buffalo State College needs property to further its educational mission and will be issuing a request for proposals for public-private opportunities.

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• THREE MAJOR ANCHOR INSTITUTIONS• World-Renowned Albright-Knox Art Gallery Visitors: Aprrox. 400,000

• Buffalo State College SUNY Student Population: 9,118 Students

• Richardson-Olmsted Complex • ESD commitment of $76.5M State funding,

$16M in historic tax credits

• Active and Successful Adaptive Reuse Projects – current opportunities

• Fast growing and diverse employment base• Niagara Street – Complete Street initiative • West Side/ Grant-Ferry and Black Rock Communities• Strong Retail Corridors Nearby:

Elmwood, Amherst, Grant

WHY CULTURAL?

H.H. RICHARDSON COMPLEX

HOTEL HENRY

DART STREET - FORMER AUTO IMPOUND

CULTURAL CLUSTER

OZ Census Tracts Cultural Centers

Parks

Unity Island

BroderickPark

NiagaraRiver

Delaware Park

Buffalo History Museum

Albright Knox

H.H. Richardson Olmsted Campus

Buffalo StateCollege

OTHER ASSETS

OPPORTUNITY ZONE NORTHLAND - HOSPITAL


34 Multiple Properties – 631 Northland, Buffalo Urban Development Corp. Commercial/ Industrial Structures 541 E. Delavan, 41 Northland, (BUDC) for redevelopment. 612 Northland

40.01 Highland Park Village Highland Park LLC 27-acre former retail site repurposed into (Central Park Ave. and residential neighborhood. Currently Phase 2 of 3. Holden St., Buffalo)

170 Glenny Drive Parcel Buffalo Municipal Housing Authority/ 17 acre vacant site. Zoned Flex Commercial. City of Buffalo

Buffalo Market INDUSTRIAL VACANCY

is less than 3%33

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BAR

NE

TT

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NK

FOR

T

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NS

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K

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ER

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RO

CK

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OD

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WORCESTER

PORTAGE

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NS

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ARD

EN

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GLE

NW

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D

HILL

PARKING LOT

RO

DN

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P

RAM

P

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WO

OD

LAWN

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UNNAMED

DUTTON

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NAM

ED

MOSELLE

NO

RTH

LAND

WO

OD

LAWN

RAMP

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OD

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HUMBOLDT

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VE

RD

ALE

UNNAMED

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P

WYOMING

WINCHESTER

BEARD

PARKING LOT

RAMP

WIN

SLO

W

33

MO

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AN

RAMP

NO

RTH

LAND

NORFOLK

198

UNNAMED

WA

RW

ICK

RAMP

RAMP

NORTHUMBERLAND

CHELSEA

CORNWALL

WIN

SLO

W

RAM

P

UNNAMED

RAMP

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IVE

WAY

CAMBRIDGE

SCA

JAQU

AD

A

UNNAMED

WIN

SLO

W

RAM

P

GLE

NW

OO

D

WYOMING

SANFORD

±

40.01

170

34

Anchor Institutions

• Erie County Medical Center • Canisius College • Northland Workforce Training Center

WHY NORTHLAND- HOSPITAL?

NORTHLAND WORKFORCE TRAINING CENTER

HIGHLAND PARK

GLENNY DRIVE – 17 ACRES

Northland Cooridor Redevelopment Project

• 35-acre brownfield redevelopment project, return industrial and commercial properties to productive use

• $44M in NYS funding• Project Partners: Empire State Development, New York Power

Authority, City of Buffalo• Walkable neighborhood

NORTHLAND-HOSPITAL CLUSTER


Glenny Park

TRACTS 34, 40.01, 170

SIZE 1.7 SQ. MI.

POPULATION 10,028 (2017), 9,136 (2013) [+10%]

MEDIAN AGE 37


JOBS 3,023 (2015), 6,423 (2011) [-53%]

TOP INDUSTRIES Professional, Scientific, and Technical Services (32%); Manufacturing (11%); Educational Services (11%)

INFRASTRUCTURE Main Street (NY 5); Kensington Expressway (NY 33); Bailey Ave. (NY. Rt. 62); Delavan Ave.; MetroRail at Amherst Station

ASSETS ECMC; NWTC; Buffalo Manufacturing Works; Canisius College, Mt. Olive Baptist Church, Delavan-Grider Community Center, True Bethel Baptist Church, Math Science Technology Preparatory School

OPPORTUNITY ZONE EAST MAIN – JEFFERSON TRACTS 25.02, 31, 168

SIZE 1.67 SQ. MI.

POPULATION 7,502 (2017), 8,100 (2013) [-7%]

MEDIAN AGE 45


JOBS 10,233 (2015), 9,875 (2011) [+4%]

TOP INDUSTRIES Health Care and Social Assistance (68%); Other Services [ex. Public Administration] (8%); Educational Services (5%)

INFRASTRUCTURE Main Street (NY 5); Jefferson Ave; Broadway Ave; Kensington Expressway (NY 33); MetroRail subway [4 stops]

ASSETS Buffalo Niagara Medical Campus (BNMC); Fruit Belt and Allentown Neighborhoods; Beverly Gray Business Exchange Center; Masten Park; MLK Park and District


31 Pilgrim Village McGuire Development 11 acre site. Potential for residential development – proximate to graduate and medical students and workers.

168 Osmose Holdings 780 Ellicott LLC 4.4 acre property owned by BNMC. Adjacent to campus. office, medical, warehouse, parking.

168 1159 Main Cedarland Development 130K sq. ft. , 215 unit new construction Transit Oriented Development. 1st floor commercial.

25.02 Buffalo Forge SAAKC 490 Broadway. $50M, 185 unit mixed income infill. Attached commercial space. Active design.

31 1091 Main Ellicott Development $20M development. New 6-story, 167K sq. ft. building and adaptive reuse of former church, office, retail, residential and parking.

16,000 EMPLOYEES, STUDENTS

AND VOLUNTEERS

WHY EAST-MAIN – JEFFERSON?BUFFALO NIAGARA MEDICAL CAMPUS• Collaborate World Class clinical care, research

and education not-for-profit organization

• Select Medical Partners/ Members: • Roswell Park Comprehensive Cancer Center • Kaleida Health • University at Buffalo (SUNY) • Hauptman-Woodward Medical Research Institute

BEVERLY GRAY BUSINESS EXCHANGE CENTER• One-stop small business technical resource center

developed to support entrepreneurship and innovation for M/WBEs, Service-Disabled Veteran–Owned Businesses, and small businesses in the City of Buffalo and WNY region

METRORAIL SERVICE• 4 stops within East-Main Jefferson Cluster Area: Allen-

Medical Campus, Summer-Best and Utica Stations. Utica Station is the most trafficked Metro Rail station.

NYS COMMITMENT - EAST SIDE CORRIDOR ECONOMIC DEVELOPMENT FUND• Jefferson Ave. Commercial District

33

MA

INUTICA

FERRY

FILL

MO

RE

HIGH

MIC

HIG

AN JEFF

ER

SO

N

DELAVAN

GENESEE

BEST

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K

DEL

AWA

RE

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CO

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NORTH

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SYCAMORE

ELM

MA

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N

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SO

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LIN

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OD

ADA

MS

FRA

NK

LIN

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D

SHE

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OLD

T

GIB

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N

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BFNC

CARLTON

CO

IT

HER

MA

N

GLENWOOD

PUR

DY

NORTHAMPTON

FLORIDA

WOODLAWN

PRATT

GR

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MO

NR

OE

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MA

PLE

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TIM

ON

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RD

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198

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D

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NAM

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T

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ELM

LAFAYETTE

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NORTH

RAM

P

DRIVEWAY

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RAMP

SAINT PAUL

RAMP

OR

AN

GE

RAM

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AN

WA

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RAM

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CHAPIN

PAR

K

WIN

CH

ES

TER

RAMP

PER

SH

ING

RAMP

PARADE

SAINT PAUL

±

168

31

25.02

BUFFALO FORGE

1091 MAIN STREET

1159 MAIN STREET

EAST MAIN-JEFFERSON CLUSTER

OZ Census Tracts Buffalo Parks Metro Rail Stops

MLK ParkMain Street

OPPORTUNITY ZONE OUTER HARBOR

5

190

OH

IO

PARK

SWAN

DIVISION

MA

IN

SENECA

CLINTON

ELM

EXCHANGE

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OA

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SON

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ADA

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MA

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CH

ICA

GO

7TH

HOWARD

FRA

NK

LIN

BROADWAY

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CO

TT

CHURCH

OCONNELL SID

WAY

FULTON

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BON

D

CHILDS

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TON

LAR

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REPUBLIC

SEYMOUR

SHE

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SHU

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PILL

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MO

UR

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NO

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RAM

P

DR

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MA

RV

IN

RAMP

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UNNAMED

RAMPFULTON

RAMP

UN

NAM

ED

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UNNAMED

RAMP

GENESEE

RAM

P

RAM

P

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DIVISION

DR

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WAY

DRIVEW

AY

SENECA

RAMP

UN

NAM

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UN

NAM

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RAMP

UNNAMED

DR

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ALA

BA

MA

COURT

PERRY

SPR

ING

UN

NAM

ED

CAR

RO

LL

RAMP

DR

IVE

WAY

CARROLL

PERRY

RAMP

VAN

DA

LIA

RAMP

MACKINAW

CED

AR

ILLI

NO

IS

5

KEN

TUC

KY

DIVISION

UN

NAM

ED

MIAMI

EAGLE

DIVISION

RAMP

RAMP

CHURCH

RAMP

RAM

P

DR

IVE

WAY

190

BON

D

UNNAMED

RAM

P

RAMP

EAGLE

DRIVEWAY

RAM

P

CH

ICA

GO

RAMP

CO

LUM

BIA

±

5

TRACT 5

SIZE 2.4 SQ. MI.

POPULATION 2,053 (2017), 1,968 (2013) [+4%]

MEDIAN AGE 32


JOBS 1,209 (2015), 1,279 (2011) [-5%]

TOP INDUSTRIES Manufacturing (52%); Other Services [exc. Public Admin] (19%); Educational Services (7%)

INFRASTRUCTURE Buffalo Ship Canal; Skyway (NYS Route 5); Ohio Street; South Park Ave.; Fuhrmann Blvd.; City Ship Canal; Slips 1 and 2

ASSETS Lake Erie; Buffalo River; Wilkenson Pointe; Bell Slip; Times Beach Nature Preserve; Old First Ward; Red Jacket River Front Park; Buffalo BlueWay; Mutual Riverfront Park, Buffalo River BOA


5 Outer Harbor Master Plan Erie Canal Harbor Development Corp. 196 acres, mostly passive recreation project.

5 RiverWorks Pearl St. Properties Adaptive Reuse - entertainment / event facility: restaurant, sports complex, recreation, historic. 309 Ganson.

5 Barcalo Karl Frizlen and Jason Yots $25M adaptive reuse for 119 Apartments, 40 k sq. ft. of office, commercial, lite manufacturing space. 225 Louisiana.

5 Cooperage Ellicott Development Adaptive Reuse Project – former factory complex near to Buffalo River and major public infrastructure investment on Ohio St. Brewery, Climbing Gym, Apartments.

WHY OUTER HARBOR?Unmatched Public Assets – Lake Erie and Buffalo River

Significant Public Investment into Assets

• $125M OuterHarbor Revitalization Plan

Burgeoning destination and attraction uses

• Indoor/ outdoor recreation, entertainment, leisure, historical; food and beverage (many small restaurants, brewing, distilling, baking, large scale food production)

Residential and Manufacturing Heritage

RIVERWORKS

OUTER HARBOR RENDERING

BARCALO ADAPTIVE REUSE PROJECT

OUTER HARBOR CLUSTER


Tifft Nature Preserve

Outer Harbor

BuffaloRiver

OPPORTUNITY ZONE BROADWAY FILLMORENYS East Side Corridor Economic Development Fund

• Planned projects taking place as part of $50M ESD Fund • Broadway and Fillmore Designated Corridors • East Side Main Streets Grants Program • Building Preservation Fund

BAIL

EY

33

FILL

MO

RE

WILLIAM

SMIT

H

FOX

GENESEE

WALDEN

CLINTON

WIL

SO

N

SYCAMORE

SWE

ET

CO

IT

SHE

RM

AN

190

HOWARD

DOAT

MIL

LSREE

D

URBAN

GIB

SO

N

A

B

LOR

D

MAY

WO

LTZ

HER

MA

N

C

GR

EEN

E

FRENCH

IVY

KOO

NS

BEST

GU

ILFO

RD

MIL

LER

RAP

IN

RO

THE

RKE

HR

CLA

RK

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PE

RE

PECKHAM

SOBI

ES

KI

BAIT

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LATH

RO

P

STR

AU

SS

FAY

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TRA

L

ASHLEY

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FOUGERON

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SE

LL

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WO

OD

RAM

P

SEA

RS

STAN

TON

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DET

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LON

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KE

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SHU

MW

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MO

SE

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BAR

D

KEY

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TITU

S

NEW

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TOW

NSE

ND

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FLEMING

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GO

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YE

AR

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ME

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LFE

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MEM

ORI

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SUM

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BU

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N

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UTH

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PARADE

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RS

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NO

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NA

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GR

VA

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MM

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DIVISION

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GENEVA

NORTH

PARK

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LO

T

PEA

CE

SPIE

SS

ARM

BR

UST

ER

RU

STIC

SEYMOUR

CHEROKEE

NEV

AD

A

BEC

KE

R

LATO

UR

SAN DOMINGO

BRIG

HTO

N

DOVER

STEUBEN

CORNELIA

LIN

DE

N

HIL

TON

BUSH

NELL

RAW

LIN

S

SCH

MA

RBE

CK

REIMAN

JOH

N P

AU

L

SCHLENKER

STE

TSO

N

PADEREWSKI

BEND

ER

MARKET

FREDERICK

LANNETTE

BERGTOLD

SIENKIEWICZ

THE

OD

OR

E

JEROME

GR

EEN

E

BRISTOL

190

GIL

BERT

SCHEU

SUM

NE

R

CU

RTI

SS

LANDON

DR

IVE

WAY

33

SAN DOMINGO

GO

EM

BE

L

SHE

RM

AN

CEN

TRA

L

BUR

GAR

D

RO

HR

CHEROKEE

MEM

ORI

AL

RAM

P

UN

NAM

ED

NORTHAMPTON

PER

SO

N

RAM

P

RAM

P

LEW

IS

UN

NAM

ED

RAMP

RAM

P

TITU

S

MAY

KOO

NS

BAR

THEL

KENT

FLEMING

GO

OD

YE

AR

STANLEY

BON

D

RILEY

PAR

AD

E

RAM

P

PAR

AD

E

DIVISION

±

16

TRACT 16

SIZE 0.8 SQ. MI.

POPULATION 2,312 (2017), 2,031 (2013) [+14%]

MEDIAN AGE 32


JOBS 1,025 (2015), 1,108 (2011) [-7%]

TOP INDUSTRIES Manufacturing (35%), Wholesale Trade (32%), Health Care and Social Assistance (10%)

INFRASTRUCTURE Broadway St.; Fillmore Ave.; William St.; Various Rail Lines

ASSETS Central Terminal; Broadway Market; Broadway-Fillmore Local Historic District; Historic Cultural Churches; WNY Human Services Collaborative


16 Central Terminal Central Terminal Restoration Corp. ~ 500 k sq. ft. historic former railroad station. & City of Buffalo $5M in NYS funds committed to improvements for year-round events use. Urban Land Institute Study.

16 Broadway Market City of Buffalo 90,000 sq. ft. community and small, local retail market. $4M in NYS funds for planning and improvements for a year-round market.

16 950 Broadway Cedarland Development 40,000 sq. ft. Mixed-use, workforce housing adaptive re-use. $2M from NYS Better Buffalo Fund.

16 Schreiber Brewery Reuse Project Buffalo Brewing Company Renovation of long-vacant historic brewery for production, tasting and brewing museum.

16 City-Owned Vacant Property City of Buffalo Various contiguous vacant residential and commercial lots.

CENTRAL TERMINAL

BROADWAY MARKET

950 BROADWAY

WHY BROADWAY FILLMORE?Historic neighborhood (Polonia) with nationally significant built and cultural assets

• One of City’s Strongest Growing Tracts Positive population growth +14%

BROADWAY FILLMORE CLUSTER


WHY SOUTH BUFFALO INDUSTRIAL HERITAGE?

SOUTH BUFFALO INDUSTRIAL HERITAGE

Massive physical Opportunity Zone area – 5.4 Square Miles. Significant commercial opportunities across clean, reclaimed land. Supportive infrastructure for large commercial uses. Concentration of Manufacturing, Distribution, Wholesale and Warehousing businesses. Additional opportunities available in underused building stock.

NYS Commitment:

• $750M, 1.2 MSF SolarCity/ Tesla “GigaFactory 2” – photovoltaic production facility

• $125M Outer Harbor Revitalization Plan

• East Side Corridor Economic Development Fund

❒ Bailey Ave Corridor and Clinton-Bailey Investment Area

TRACTS 1.10, 163

SIZE 5.4 SQ. MI.

POPULATION 5,039 (2017), 5,527 (2013) [-9%]

MEDIAN AGE 32


JOBS 3,470 (2015), 3,657 (2011) [-5%]

TOP INDUSTRIES Wholesale Trade (28%), Manufacturing (25%), Transporting and Warehousing (9%)

INFRASTRUCTURE Interstate 190; Buffalo River; Skyway (NYS Route 5); Bailey Ave. and S. Park Ave. (NYS Route 62); CSX Rail Service; High-Power Electric Service; Seneca St.; Union Canal; Port of Buffalo; City Ship Canal; Slip 1

ASSETS Lake Erie; Buffalo River; Outer Harbor; South Buffalo BOA; Niagara Frontier Food Terminal; Clinton-Bailey Farmer’s Market; Ship Canal Commons; Tifft Nature Preserve; Buffalo Harbor State Park; Buffalo and Erie County Botanical Gardens; Valley and Seneca-Babcock Neighborhoods; Outer Harbor Trail

5

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163 Elk Street Commerce Park The Krog Group 35 acres of developable land. Remediated former brownfield. 586 Elk St. Adjacent to Buffalo River, proximate to US Thruway 190, rail lines. Zoned Heavy Industrial.

1.10 Buffalo Lake Side Commerce Park Buffalo Urban Development Corp. 105 acre smart growth urban commerce park with (BUDC) multi-modal transportation and interstate access. Zoned light industrial and mixed-use.

1.10 Outer Harbor Master Plan Erie Canal Harbor Development Corp. 196 acres, mostly passive recreation project. (ECHDC)

UNION SHIP CANAL

TESLA GIGAFACTORY 2

NIAGARA FRONTIERFOOD TERMINAL

INDUSTRIAL HERITAGE CLUSTER


OPPORTUNITY ZONE

NYS Rt. 5

Tifft NaturePreserve

Buffalo Lakeside Commerce Park

SouthPark

N

OPPORTUNITY ZONE DELAWARE OPPORTUNITY ZONE WEST HERTELTRACTS 67.02, 56

SIZE 0.3 SQ. MI.

POPULATION 2,858 (2017), 3,212 (2013) [-11%]

MEDIAN AGE 32


JOBS 4,866 (2015), 5,710 (2011) [-15%]

TOP INDUSTRIES Health Care and Social Assistance (67%); Other Services [excluding Public Admin.] (9%); Management of Companies and Enterprises (5%)

INFRASTRUCTURE Elmwood Ave.; Delaware Ave.; Main St.

ASSETS Delaware Avenue National Historic District; Elmwood Village; Elmwood Village Association

TRACTS 56

SIZE 0.85 SQ. MI.

POPULATION 4,268 (2017), 4,176 (2013) [+2%]

MEDIAN AGE 32


JOBS 3,687 (2015), 3,827 (2011) [-4%]

TOP INDUSTRIES Manufacturing (33%); Health Care and Social Assistance (20%); Retail Trade (17%)

INFRASTRUCTURE Interstate 190 access; CSX Rail Line; Military Rd. (NYS Route 265); Hertel Ave.; Elmwood Ave.; Kenmore Ave.


67.02 Elmwood Crossing Sinatra & Company Real Estate Multi-project re-use of former Hospital and Ellicott Development Campus. Residential and Amenity-focused.

56 North Buffalo Mixed Use Uniland Development 20 acre site with office, retail and residential space.

WHY DELAWARE?Strong, recognizable, very dense urban neighborhood

• High-value housing stock

• Extremely active commercial presence

High levels of investment throughout Elmwood, Delaware and Main Street Corridors

• High intensity mixed-use: primarily residential, retail, restaurant

WHY WEST HERTEL?Blended jobs center and residential Cluster Area

Visible Very-High Traffic Area

• High Number of National Brand Retailers

Variety of vacant parcels and buildings in area

Diverse Zoning permits variety of uses

56

171

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ELMWOOD CROSSING

WEST HERTEL CLUSTER


OPPORTUNITY ZONE UNIVERSITY HEIGHTSTRACT 47

SIZE 0.6 SQ. MI.

POPULATION 5,799 (2017), 6,316 (2013) [-8%]

MEDIAN AGE 31


JOBS 938 (2015), 841 (2011) [+12%]

TOP INDUSTRIES Health Care and Social Assistance (58%); Retail Trade (15%); Accommodation and Food Services (14%)

INFRASTRUCTURE Main St.; Bailey Ave. (NYS Route 62); Amherst Ave.

ASSETS University at Buffalo South Campus; Kensington-Bailey Commercial Corridor; Shoshone Park; McCarthy Park; Buffalo Promise Neighborhood

MAIN

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±

47

WHY UNIVERSITY HEIGHTS?• Excellent TOD Potential. High Traffic and High Walkability Area

• ~ 18,000 vehicles/ day

• 77/100 Walkability Score

• Many small businesses support greater resident population

• NYS East Side Corridor Economic Development Fund

❒ Bailey Ave Corridor and Kensington-Bailey Investment Area


47 Metro Rail LaSalle Station Niagara Frontier Transportation Potential Transit Oriented Development project of Authority existing station, adjacent surface parking lot and other properties. Mobility Hub and Complete Streets.

RAILS TO TRAILS

UNIVERSITY HEIGHTS CLUSTER

OZ Census Tracts Buffalo Parks Metro Rail Stop

McCarthy Park

Main Street

From 2012 to 2017, more than $1 BILLION in public investment in the City, the majority of which are in Buffalo Opportunity Zones.

EQUALOPPORTUNITY

ZONES

From 2011 to 2018, $6.7 BILLION in completed and planned private developments in the City of Buffalo, NEARLY 70% IN BUFFALO

Opportunity Zones.

VISIT BUFFALONY.GOV/OZFOR ADDITIONAL PROJECTS AND CURRENT INFORMATION

equal - media.bizj.us · opportunity zone data city of buffalo area 52.5 mi² population 258,592...

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