Funding Secured for Livery Rehab

It took some time and patience from both the developer and neighborhood residents, but work to create a 14-unit apartment building at the White’s Livery site at 428 Jersey Street is a significant step closer to starting.  Developer Sam Savarino is teaming with West Side Neighborhood Housing Services Inc. on the $3.4 million project.  The development received $2.1 million in funding from the NYS HOME Program last week allowing the reuse project to proceed.

The project is a victory for neighborhood residents who stepped in to stop an emergency demolition by the City after bricks started cascading from the neglected property in 2008.  Residents successfully lobbied the City to save the structure’s front and rear facades and distinctive tower.  Savarino’s plans call for new construction within the building’s remaining walls.

livery21.bmpUnits will range in size from 700 sq.ft. for a one-bedroom apartment to 1,025 sq.ft. and two bedrooms. 

Twelve enclosed parking spaces will be provided on the ground floor along with laundry facilities.  Plans for two parking spaces in front of the building have been dropped after neighbors raised concerns at a Zoning Board hearing.  Revised plans show landscaping along Jersey Street.

Due to funding restrictions, the fourteen units must be rented at an affordable level.  These will not be low-income apartments, rents are determined by income levels in the immediate neighborhood.  The gross rents (rent plus utilities) will range from $600 to $715 a month and will be affordable to nine households with incomes at or below 50 percent of the area median income, and five households with incomes at or below 60 percent of the area median income.  Two units will be fully-accessible units for persons with mobility impairments and three will be accessible units for persons with a hearing or vision impairment.

Project financing is through the NYS HOME Program, City of Buffalo, Federal Home Loan Bank Affordable Housing Program, NYS RESTORE Program, and private equity.

The development team consists of West Side Neighborhood Housing Services, Inc. (CHDO) as developer and management agent, Oxford Consulting as housing consultant, Savarino Construction as general contractor, and Stieglitz Snyder Architecture as architect.  Upon completion, the project will be owned by White’s Livery Apartments HDFC, Inc.

In all, Governor David A. Paterson Thursday announced $119 million in housing and community renewal awards to help communities across the State develop affordable housing, revitalize downtowns, and upgrade water and sewer systems.livery20.bmpGet Connected: Savarino Cos., 716.332.5959

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