BUFFALO, N.Y. — A partnership between Chicago-based developer The Habitat Co., New York City-based investment and advisory firm Duvernay + Brooks and an affiliate of the Buffalo Municipal Housing Authority will undertake a 254-unit affordable housing redevelopment. Known as Marine Drive Apartments, the project represents Phase I of a larger, $600 million redevelopment of Buffalo’s historic waterfront district. The project will replace a seven-building, 616-unit complex that was built in the 1950s with 700 new units of affordable housing. Information on rent restrictions and floor plans was not disclosed. The redevelopment will also feature 5,000 square feet of retail and commercial space, a new community center, landscaped green spaces and a public plaza.
According to the development team, the housing complex at 205 Marine Drive in Buffalo's waterfront district has fallen into disrepair in recent years. A feasibility study determined that complete replacement was the most cost-effective and sustainable option that would ensure modern building systems, energy efficiency, accessibility and long-term affordability for residents.
Partnership to Undertake 254-Unit Affordable Housing Redevelopment in Buffalo
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