In order to spur redevelopment of the site of the Millard Fillmore Gates Circle Hospital, Buffalo officials are considering creating an Urban Development Action Area around the property.
Municipalities often create special economic zones to draw developers to an underserved or under-developed area. Developers and businesses that agree to work in the zone receive tax breaks and other considerations. In Buffalo's case, those tax breaks would be contingent upon the developer meeting the city's standards for hiring minority workers and providing affordable housing.
The former hospital site offers 6.7 acres for redevelopment, and current plans show a community named Lancaster Square. The project is mixed-use, having space for housing, a gym, retailers, a market, and additional uses. Brochure printing can be used by the developer to create materials to illustrate a project's amenities to future tenants.
TM Montante Development is the project's developer, and has been working on it for the past several years. Montante also plans to build a project at 1299 Delaware, from the ground up.
Christian Campos, president of Montante, said of the Lancaster project that such efforts are challenging to finish, because of construction costs and the reality of market rents. He added that the tax incentives are critical if such projects are to be carried out.
The Buffalo Planning Board will review the special economic zone proposal soon, after which the plan will go before the Common Council.