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Ribbon Officially Cut at 500 Seneca

By February 18, 2016 No Comments

Today was a big day for our company and our 500 Seneca Street project as we held the official dedication and ribbon cutting.  Those in attendance include many of those that played a role in the redevelopment of this historic building as well as many elected officials and business partners that helped make this project a success.

Following are some of the articles and press coverage of the event.

From Buffalo Rising12717315_1041340732598765_3902213313533075891_n
Owner/partners Frontier Development Initiatives and Savarino Companies as well as President and CEO of the Community Preservation Corporation (CPC), Rafael E. Cestero, Lieutenant Governor Kathy Hochul, New York State Comptroller Thomas DiNapoli, U.S. Congressman Brian Higgins, Mayor Byron Brown, and New York State Senator Timothy M. Kennedy (D-63) joined development partners, tenants and community members to celebrate the completion of 500 Seneca Street. Formerly a vacant manufacturing facility and brownfield site, the now renovated building provides 98 new apartments, commercial space, complimentary retail space and new economic opportunities that will act as a catalyst in the revitalization of the growing Hydraulics District. [full article here]

From Buffalo Business First

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For years, the sprawling seven-story former F.N. Burt warehouse was a poster child for Buffalo’s economic decline.

The 325,000-square-foot Seneca Street structure — visible from the I-190 — sat empty and derelict. “A lot of people were familiar with only because they passed it by,” said developer Sam Savarino.

But, a $44 million private-sector investment led by Savarino and his development partners the Frontier Development Initiatives, is now the latest project in the city’s economic turnaround. The 500 Seneca Building, which has been open since last summer, had its official coming out party Thursday as leaders including Lt. Gov. Kathy Hochul, state Comptroller Thomas DiNapoli and Rep. Brian Higgins, toured the building.

Savarino and his partners proved the critics wrong.

And, in a big way. [full article here]

From Community Preservation Corporation

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Lieutenant Governor Hochul, Comptroller DiNapoli, Congressman Higgins and Mayor Brown Join Owners, Investors and Lenders to Celebrate the Completion of a Unique and Dynamic Mixed-Use Redevelopment Project in Buffalo, New York.

Transformation of 500 Seneca Street Creates 98 Units of Workforce Housing, New Commercial Space and New Economic Opportunity. Redevelopment of Former Brownfield Site Helping to Spur Revitalization in Emerging Hydraulics District

Owner/partners Frontier Development Initiatives and Savarino Companies as well as President and CEO of the Community Preservation Corporation (CPC), Rafael E. Cestero, Lieutenant Governor Kathy Hochul, New York State Comptroller Thomas DiNapoli, U.S. Congressman Brian Higgins (NY-26), Buffalo Mayor Byron Brown, and New York State Senator Timothy M. Kennedy (D-63) joined development partners, tenants and community members to celebrate the completion of 500 Seneca Street, a new $44 million mixed-use development in Buffalo, New York. Formerly a vacant manufacturing facility and brownfield site, the now renovated building provides 98 new apartments affordable to the local workforce, commercial space, complimentary retail space and new economic opportunities that will act as a catalyst in the revitalization of Buffalo’s growing Hydraulics District. [full article here]