News Article

NEF counts one winner, one finalist, in Buffalo's Brick by Brick Awards

23 August 2007

Business First of Buffalo, a business weekly, has announced the winners of its 4th annual Brick by Brick Awards, a program that honors the best in local development in eight categories of Real Estate, Construction and Development in the Buffalo Niagara region. This year two NEF projects were among the honorees. Victory Ridge Apartments won in the Best Historic Renovation category, and Cornerstone Manor was a finalist in the Best New Construction category. An award ceremony was held on September 20th to honor all finalists. Please visit Business First's web site for more information.

The Victory Ridge Apartments

The $9.9 million renovation of an historic building on the campus of the former Our Lady of Victory Hospital in Lackawanna, N.Y. has provided 74 affordable homes for seniors aged 55 and older, the frail elderly and veterans. Although Lackawanna has suffered economically over the years, this project is part of a wider revitalization effort expected to draw residents back to the area, especially the elderly population which is forecasted to rise in the next five years. Sixty-seven of the homes will be rented to households at or below 60% of AMI and seven will be rented to households earning 60-90% of AMI.

Cornerstone Manor

This newly-constructed building in Buffalo, N.Y. includes 46 single room apartments, 12 two-bedroom apartments and a 4 unit shelter for homeless single women and women with children. All of the 58 apartments are reserved for households at or below 60% of AMI. In addition, the project sponsor, Buffalo City Mission will provide comprehensive on-site support services to all residents, including counseling, childcare and private schooling, parenting classes, job training, legal services, healthcare, independent living skills training and prepared meals.

 

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Victory Ridge Apartments
Cornerstone Manor

Featured Project: Seneca SRO

Seneca SRO

This $15 million project exemplifies both collaboration and creative financing that addresses a dire housing shortage in Buffalo, N.Y. Developed by two organizations with stellar track records -- DePaul Group and STEL -- in providing supportive housing for persons living with psychiatric disabilities and other special needs populations, the 75-unit Seneca SRO was built upon the former site of an asbestos-ridden bowling center, and it is one of the first projects to leverage tax credits and private debt with OMH funding.

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