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  1. JuneBug

    5 ratings12345
    Jul 1st, 16:50

    Local does not always mean better. Out of town investors are doing just that...Investing money in our City. Let's be excited that money from the outside is coming in. If a national company wanted to start a business in Buffalo would we frown and say "i wish it was a local owner?" And as far as holding local developers accountable, that's a laugh. Our current political system is so corrupt, it's the locally connected guys that are making the shady deals. So kudos to the out of towners who are willing to start doing business in our City.

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  2. Drew

    1 ratings12345
    Jul 1st, 15:23

    I can't wait for the former co-op to be occupied again.

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  3. STEEL

    3 ratings12345
    Jul 1st, 15:49

    Heather,

    If they renovate it, get high quality tenants, and then sell it to someone else what is the problem. If they don't invest in the property, let it degrade, and then sucker someone into paying an inflated price - that is a problem

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  4. heathersmiles

    2 ratings12345
    Jul 1st, 15:35

    Because they are from out of town, who is going to hold them accountable for the condition of the property and keep them from flipping it to another investor? We have been down that road with numerous well intentioned investors in the past.

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  5. kelly

    2 ratings12345
    Jul 2nd, 11:18

    I used to live in that building on Lexington and Ashland, maybe 8 years ago. Unless the out of town owners actually arrive into town to break into apartments and beat tennants in the middle of the night they will be a step up from the inconsiderate, incompetent, dishonest local jerk who owned it when I lived there.

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  6. wwabbit

    2 ratings12345
    Jul 1st, 16:48

    One wonders at the definition of "quality tenants".

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  7. Colin

    3 ratings12345
    Jul 1st, 18:08

    Whatever you think of out-of-town investors, the profit doesn't stay local. It leaves town and ends up with the investors. That's why they invest. That doesn't mean that local is by definition better. But all else being equal, it is.

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  8. carl

    1 ratings12345
    Jul 1st, 15:55

    given how poor Buffalo is, wouldn't 'feudal lords' be a better name?

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  9. Enxu

    1 ratings12345
    Jul 1st, 19:58

    I live in the building at Lex and Ashalnd. Just to clear the air, one of the partners lives in Buffalo, so fears of "absentee landlord-ism" are a non-issue. Additionally, they truly have been making constant little upgrades to this building, thereby improving it for us "quality tennants".

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  10. BADASH

    1 ratings12345
    Jul 1st, 21:28

    Adam White? R U kidding me? The definition of slum-landlord/property management! Ask Torke! See his wonderful work on Tenth Street. Yech!

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  11. sbrof

    1 ratings12345
    Jul 1st, 21:35

    Yeah if it takes outside money to show the local guys what to do then so be it. I didn't see anyone else locally step up to take on these buildings or the MANY others that are dotted around the west side still (sorry east side you had all yours demoed).

    So assuming they don't become absentee I will take the investment of dollars into these buildings. It means they are secure and occupied for years to come where by a local (freudheim or paladino) person isn't always as appreciative of the buildings we have (greystone, webb)

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  12. stephenjames716

    0 ratings12345
    Jul 1st, 23:48

    this is great stuff (if you think otherwise I don't know what to day) thank you out of towners!

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  13. bisonherd

    0 ratings12345
    Jul 1st, 19:26

    This is really wonderful news for Buffalo developers. All of our multi-story buildings from Niagara Street to Michigan are getting increasing visability and seen as profitable rehabs.

    Look at the venom and the legal difficulties descending upon Buffalos slumlords like Freudenheim. As Buffalo's multi-story buildings continue to dwindle the slumlords are increasingly becoming the focus of local rath which is a good thing for the community as a whole.

    It means that even with our nations real estate troubles which are largely sparing Buffalo....urban infill is rapidly approaching financial viability.

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  14. carl

    0 ratings12345
    Jul 1st, 15:59

    i would much rather have local developers, then we can hold them accountable, and the profits stay local.

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  15. berniceheartsyou

    0 ratings12345
    Jul 2nd, 00:22

    these people like working with section 8... trust me... i have dealt with them one on one with my company. FYI, i dont know how much they will be renovating to get higher rents and better tenants.However, they do seem to be okay landlords and good people too!

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  16. rubygreta

    0 ratings12345
    Jul 1st, 17:52

    Carl - the "profits" are staying local. More people living in the buildings meaning more dollars spent in the city. The buildings are renovated and help maintain property values. Who cares if the owner lives in CA or locally? I would take a good out-of-town owner any day over a local bum.

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