by Christopher Finn, Research Manager
During the last decade, through one of the worst recessions in U.S. history, investment in downtown Buffalo persevered with billions of dollars in completed and recently announced projects. Economic development efforts must not rest on this success, but instead build off of this tremendous momentum.
To this end, Buffalo Urban Development Corporation (BUDC) has begun an effort to market downtown Buffalo as a place that welcomes future investment.BUDC identified and inventoried downtown parcels that would be attractive to developers. Once this initiative was completed, they contacted BNE and requested that we create a map to be used as a marketing tool for these options. Currently, the map highlights twenty-three unique parcels for a total of 21.5 acres.
BUDC’s mission includes the acquisition, remediation and management of distressed properties, and to engage in related real estate development activities for the purpose of attracting and/or retaining new and existing businesses to the City. This effort is visible in the success of Buffalo Lakeside Commerce Park and their latest project along the Buffalo River, RiverBend Commerce Park. They are also the lead agency tasked with implementing the recommendations of the Buffalo Building Reuse Project (BBRP). BUDC is one of the most progressive economic development agencies working on behalf of Buffalo, pursuing transformative projects in our region.