Barcalo conversion project underway in former first quarter after long delay from Covid | Local company
“It will be great for the community and for the city of Buffalo,” said Masters.
The apartments – mostly market-priced units – will consist of an almost equal mix of one and two-bedroom lofts, along with a number of three-bedroom apartments. They will primarily be located in multi-story buildings, while single-story sections will house commercial and common areas. An unspecified number of apartments will cost around 10-15% below market levels, but will not be subsidized as “affordable” units for certain incomes.
“They will be attractive to a larger audience of renters,” Masters said. “On other projects we’ve done, it seems to work very well for rentals. They fill up quickly and stay full.”
Units will vary in size from less than 500 square feet for the smallest units, with a monthly rent of around $ 700, to the larger three-bedroom apartment on the fifth floor, with up to 1,700 square feet and a rent of over $ 2,000. . However, the majority of units fall in the middle, including one-bedroom units of 650 to 700 square feet at $ 1,100 and two-bedroom units of 1,200 to 1,300 square feet at $ 1,500.
The project will also include a mix of “urban-outdoor” amenities such as a rooftop patio with views of downtown Buffalo, the waterfront and nearby grain elevators, as well as a shopping center. physical conditioning and training, a bicycle and kayak room, a station dog wash, “leisure places” in the common areas, a cafeteria and a laundromat, which has been promised to the local district as part of the project. A small grocery store was also considered to meet a local need.