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BUDC buys 10 more Northland corridor properties

by dstebbins
Thu, Apr 16th 2015 01:00 pm
Buffalo Business First  [ View Original Article ]

Plans to create a shovel-ready development park in Buffalo's East Side cleared another milestone following the acquisition of several properties.

The Buffalo Urban Development Corp., through its Nordel II LLC, affiliate paid $4.4 million for 10 properties along Northland Avenue and Dutton Street, according to documents filed in the Erie County Clerk's office. All of the properties were owned by a private investment group, Northland West LLC and Northland East LLC.

Together, the parcels will be part of a 50-acre zone, dubbed the Northland Avenue Belt Line Corridor, that city leaders hope will attract a new wave of private sector-led investment in a development-poor section of Buffalo's East Side.

Potentially, the property could see as much as 700,000-square-feet of commercial office, manufacturing and warehousing space developed.

The funds came from $6.7 million allocation made from the state-backed Buffalo Billion, with the money being used for site acquisition, planning and environmental reviews.

Buffalo leaders hope the Northland project will mirror other recent economic development successes overseen by BUDC including the Buffalo Lakeside Commerce Park and Riverbend property.

In the most recent transactions, BUDC acquired:

• 644 Northland Avenue.

• 664 Northland Avenue.

• 631 Northland Avenue.

• 683 Northland Avenue.

• 688 Northland Avenue.

• 690 Northland Avenue .

• 698 Northland Avenue.

• 741 Northland Avenue.

• 126 Dutton Street.

• 128 Dutton Street.