It’s time to buildout Canalside into a real neighborhood — dominated by affordable mixed use primarily residential development with ample storefronts and pedestrian oriented streetscapes.
How can we do it?
By creating an affordable housing tax credit — not dissimilar to the Historic Preservation Tax Credit — the state can subsidize the private sector buildout of this mixed use district. Wouldn’t it make more sense — from a social sustainability perspective — for the state to subsidize affordable housing rather than high end housing in historic buildings?
Would it take a billion dollars in public private partnerships? Of course. Does New York State have a nearly $150 billion annual budget? Indeed.
Interesting comment about afordable housing that already exist at Canalside. Marine Drive Apartments are a shining example of afordable housing. The Problem is the management. Buffalo Municapal Housing has either provided private management or BMHA management for the past 10 years. In those years the property has been in a steady decline. The answer is place management back to the residents. A proven fact that ownership will provide a stable invironment. Sometimes you need to go back to move forward.
well Buffalo’s city Government has been dumping on the rights of tenants and the rights of citizens who cannot afford $795 and above a month for rent , and handing them over to Real estate fat cats like -Nick Sanatra and Carl P. Paladino;
{At $35 million, it is the largest single deal for Sinatra & Co. and adds more than 600 apartments into its portfolio. The apartments — and some commercial space — is spread among 44 different buildings, all of which are in the City of Buffalo.}Its about political power & control………We don’t need these people what so ever HUD can add what ever housing is needed and at affordable prices: