People Inc. kicks off construction on Buffalo's East Side
Flanked by developers and state officials, People Inc. CEO Rhonda Frederick kicked off construction work Wednesday for its $31 million affordable housing project on Buffalo’s East Side.
The Jefferson Avenue Apartments will house 89 residences in two buildings, including 16 units set aside for individuals with intellectual or developmental disabilities. It is People Inc.’s third apartment project in recent years, following projects on Linwood near Gates Circle and a school conversion project in North Tonawanda.
The project, developed jointly with Sinatra & Co. LLC and CSS Construction, also includes 16,500 square feet of commercial space and is expected to have a public art component as well. Tenants will include People Inc., which will provide outreach services from the space, as well as a training center operated by Belmont Housing Resources.
Though People Inc. has been providing affordable housing for older adults and people with disabilities for 25 years, the agency recently shifted its focus to low-income housing that provides integrated settings for its traditional clients.
It also complements several other projects now underway on the East Side, including redevelopment of the vacant Buffalo Forge Co.; as well as a new branch for Northwest Bank on Jefferson.
The start of construction follows a groundbreaking ceremony in the summer of 2017. The project was announced a year prior to that, with an initial price tage of $20 million, which later increased to $24 million. Jocelyn Bos, People Inc.'s vice president for housing development, said the bump in budget was tied to additional fees for funding applications as well as the actual cost of Brownfields cleanup.
Funding includes tax exempt bonds from New York State Homes and Community Renewal, low-income tax credits and Brownfield tax credits, as well as support from the state Office for People with Developmental Disabilities, Empire State Development’s Better Buffalo Fund (part of Gov. Andrew Cuomo’s Buffalo Billion economic initiative), and additional dollars from the City of Buffalo.
Source:
https://www.bizjournals.com/buffalo/...alos-east.html
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