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The recent Buffalo News piece, published on March 20, 2024, chronicles a major milestone in the city’s ongoing downtown revitalization effort: the green‑lighting of a mixed‑use development on the former railroad corridor along Main Street that will be known as “Gateway Plaza.” The article, written by reporter Daniel M. Harris, provides a detailed snapshot of the project’s origins, financing, design vision, and projected economic benefits, and it situates the development within the broader context of Buffalo’s long‑term economic‑development strategy.

Origins and Vision

The idea for Gateway Plaza began in 2017 when the city’s Office of Economic Development partnered with the private‑sector firm Horizon Development (the project’s lead developer) to transform a 15‑acre parcel of former rail land into a vibrant, pedestrian‑friendly mixed‑use complex. Horizon Development’s CEO, Angela Martinez, said in an interview that the project’s “mission is to bridge the historic industrial past of the area with a forward‑looking, sustainable future that welcomes residents, businesses, and visitors alike.” The development will include a 12‑story office tower, a boutique hotel, 200 residential units (a mix of condos and co‑ops), and a public plaza with green space, a small farmers’ market, and a performing‑arts stage.

The design, by award‑winning firm B+R Architecture, emphasizes a low‑rise, human‑scale streetscape, with a pedestrian‑friendly “café corridor” along Main Street that will house restaurants, cafés, and small retail shops. “The design is a direct response to community feedback,” said Martinez. “We wanted a place where people would naturally gather, not just a glass‑and‑steel tower.”

Financing and Incentives

A key feature of the project is its financing model, which blends public and private funds. Horizon Development secured a $45 million construction loan from the FirstBank Group, with an interest‑rate reduction of 0.5 percent thanks to a $5 million tax‑increment‑revenue (TIR) credit from the city. Additionally, the project will receive a $2 million grant from the Buffalo Niagara Development Corporation’s (BNDC) “Urban Growth Fund,” designed to support projects that generate new jobs and foster economic activity. The city will also provide a $1.2 million property‑tax abatement for the first five years of operation.

According to a statement released by the BNDC, the investment in Gateway Plaza “fits squarely within the agency’s strategy to re‑imagine Buffalo’s core and create a more inclusive, dynamic downtown.” The BNDC’s website, which the article links to, outlines the criteria for grant eligibility and lists other projects that have benefited from its funds in the past, including the revitalization of the East Side Plaza and the refurbishment of the historic Marine Terminal.

Community and Economic Impact

Harris quotes city officials who emphasize the expected impact on job creation and downtown density. The Buffalo City Council’s Economic Development Committee Chair, Mayor Thomas G. Phelps, said the project is projected to create 600 new jobs during construction and 300 permanent jobs once the development is complete. “We’re looking at a 15‑percent increase in downtown employment and a new anchor for the downtown business ecosystem,” Phelps said in a city press release referenced in the article.

The article also highlights a partnership with the local university, the State University of New York at Buffalo (SUNY Buffalo). A portion of the residential units will be earmarked for student housing, with a total of 70 units earmarked as “student‑affordable” housing. “SUNY Buffalo’s housing department has been working with Horizon Development to address the city’s growing demand for student accommodations,” says Dr. Lena Cheng, SUNY Buffalo’s Vice President of Student Affairs. The project’s alignment with the university’s expansion plans was also noted in a separate press release from SUNY Buffalo, which the article links to.

Community Feedback and Controversies

While the majority of the article is positive, it does not shy away from the project’s controversies. A handful of long‑time residents expressed concerns about gentrification and rising rents. The article quotes a local activist, Maria Rosa, who said, “We want progress, but not at the expense of people who have lived here for generations.” A city council meeting, reported in a link to the Buffalo City Clerk’s website, is scheduled for May 5 to address zoning and affordability measures, including potential rent‑control provisions for the new residential units.

Projected Timeline

According to the timeline provided by Horizon Development, construction is slated to begin in the summer of 2024, with a target completion date of late 2027. The project’s design is fully approved by the city’s Planning and Zoning Department, and the necessary environmental impact studies have been completed and are archived on the city’s Environmental Office website, which the article links to for further details.

Broader Economic Development Context

The article situates Gateway Plaza within Buffalo’s larger strategy of transforming its waterfront and downtown into a hub of innovation and culture. It cites the “Buffalo 2030 Vision” — a city‑wide plan that focuses on sustainable development, economic diversification, and community‑centric growth. A link to the Buffalo Vision 2030 page on the city’s official website provides additional background on the policy framework that underpins projects like Gateway Plaza.

Conclusion

In sum, the Buffalo News article offers a comprehensive look at the Gateway Plaza project, blending detailed project data with community perspectives and policy context. By pulling in links to the BNDC, SUNY Buffalo, city council meetings, and the Buffalo Vision 2030 page, the piece provides readers with a broader understanding of how this single development fits into the city’s evolving economic‑development landscape. The project is poised to become a flagship example of Buffalo’s ambition to blend historic preservation, modern design, and economic opportunity in a cohesive, community‑driven development.


Read the Full Buffalo News Article at:
[ https://buffalonews.com/news/local/business/development/article_47c797ad-9ec2-441c-bc57-26e83088bc8d.html ]