Price Adjustments at Elmwood Village Condos


The development’s fourteen units are being marketed by Maureen Flavin and Ellen Warner of Realty USA. The new pricing appears to be working. “We have had three calls already,” says Warner. “Things are starting to pick up and potential buyers have shown more interest.”
Building plans have shifted since the project was first announced in early-2007 by developers Paul Johnson, Karl Frizlen and Michael Ferdman. In March, units on the first floor were reduced in size. Instead of four, two-bedroom, two-bath units, the developer created a mix of six smaller one and two-bedroom plans increasing the number of units in the planned building from 12 to 14.

The reduced prices reflect a change in the planned level of finishes being offered in the base price. Hardwood flooring and fireplaces would now be an option for instance.
First floor, two-bedroom, two-bath units range from 1300 to 1408 sq.ft. previously priced from $274,300 are now priced from $249,900 to $297,900. Two-bedroom plus den units on the second floor start at $399,900, reduced from $437,400.
Real estate developers typically have to pre-sell a certain percentage of condo units to obtain construction financing. Due to the dearth of new multi-family residential developments, Buffalo does not have a lengthy history of pre-selling units.
“Though there are some buyers that need to see it before buying, Buffalo is not a difficult pre-sell market,” says Flavin. She points to the strong sales at Waterfront Place where 70 percent of the units are sold and where she personally has brought in buyers for four units.
Notes Flavin, “We’re getting closer to construction.” Work is expected to begin once five units are sold. Four are currently under contract (purchase agreement with deposit).
“We have a nice range of people. There’s a retired hospital CEO, a current resident of Waterfront Village, and an executive from Eden who wants to also have a city residence,” says Flavin. Each are buying the large, two-level units on the third floor featuring a loft area and terrace, three bedrooms, and three and a half baths. The final 2,809 sq.ft. two-story unit’s price is unchanged at $546,600.
The fourth buyer is disabled and is taking a first-floor unit that has been redesigned to accommodate his needs. Units will have either a balcony or patio and all but one comes with one or two secure underground parking spaces.
Get Connected: Maureen Flavin, 716.743.6469; Ellen Warner, 716.725.1410

As in Kansas City, Cordish Companies is lead developer for a new destination entertainment district in downtown St. Louis. And like big projects in Buffalo and elsewhere, this one has had a long gestation period. Plans for Ballpark Village were first announced in 2002 and site work for the project just started in early-August. Cordish, involved since 2005, is partnering with the St. Louis Cardinals on the multi-block, mixed-use development.
The International Institute of Buffalo has provided refugees and immigrants a way to overcome language and cultural barriers while celebrating their own cultures for 90 years. Established in 1918, they help thousands of people from all walks of life every year get settled into life in the United States by helping them learn English and to find jobs and homes.
Now, in collaboration with Just Buffalo, they are proud to present “Sankofa: an evening of African culture, past, presen …
For weeks now, anyone trying to walk down the west side of Main Street (near the corner of Allen) has been met with this disgraceful mess. Can you imagine that just one block away is the Medical Campus? And this is what you will find if you walk from Allen Street to the Granite Works project? You can't walk, you can't bike, you can barely look at this mess without wanting to shake someone awake at their City Hall desk. A day maybe, but weeks... really?
When I walked into Campieri …
Picture this scenario; you are a fly on a wall in a major company and you are watching the president read the cover letters of possible employees. The president sits at his desk, letter in hand, cup of coffee in the other, and begins reading as you look over his shoulder. You are no editor, but after the first three sentences you can't help but notice at least two grammatical errors. The president immediately puts the letter in the garbage and picks up the next one.
Knowin … 




Comment Options
Andrew
i really, really love the idea; condos in a mid-rise in the elmwood village. but the facade is just... ugh. just pick one, all brick or that tan stuff. the two together just look silly to me.
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dwilliams666
In a city where I can buy a mansion for that kind of money why would I settle for a "one-bedroom, one and a half-bath unit with 1093 sq.ft. of living space". Is this a joke?
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TownLine
Because you have zero maintenance to worry about. Maybe you're a retiree that can't do garden or exterior housework anymore. This isn't just Buffalo, people pay more for condos than houses all over the country. Just because its not what you want doesn't mean its a joke.
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nyc
dwilliams666 - because your mansion at that price will need a $350,000 renovation to be in the same condition and as little hassle as a new build. but the exterior does need some architectural help. It looks borderline public housing, especially that entrance from the street.
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AvaRouge
If that rendering of the living room/kitchen is what's found in public housing....where do I sign up???
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nyc
exterior ava. i am sure they will be beautiful inside...just needs a bit of exterior design help. but regardless a great project.
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Angus
This design is horrid. Is this the work of the same person responsible for Lou's Modern Classics building (another depressing new build)? Is it Frizlen? If so he needs to find a new career. I've seen Rite Aids that look better. Also, who in thier right mind would pay that much money to live on a bus route? Just another "obstructionist" giving his two-cents worth. Please don't just do it, do it right!
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Jay
Geez....its not all that bad. You guys are all such downers. The city would be lucky to get more projects like this. It builds density, gives people more housing options, and fills a niche in the village.
Some of you most lead some pretty depressing lives I guess. Cheer up.
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platt4
Delaware Avenue is a bus route and contains some of the city's most expensive real estate....what's your beef Angus?
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bc71
platt4,
Amherst , Delevan, Utica, Summer - These are my least favorite intersections on Elmwood and the all have one thing in common.
just sayin'
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TownLine
hmm.... Isn't all of Elmwood Bus rt. 20?
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LivingForge
The national trend is that homes on public transportation routes have become more attractive.
http://ap.google.com/article/ALeqM5gdFE0AUt5PAsJvPD9miPznk3jlCwD91CKTEG0
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Jas
Good project but poor design. I guess the residents on the ground floor in front wont be able to open their windows considering the access to the underground parking is just below their windows. Lots of exhaust and noise from the other tenants coming and going.
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mbhxam
East - West bus routes tend to bring more problems to streets compared to North - South routes...just saying...Walk down Elmwood and/or Delaware and look at the streets that have East-West running bus routes then compare them to the ones that don't...Forest (bus route), Potomic (bus route i think), West Delevan (bus route), West Ferry (bus route), West Utica (bus route), Summer (bus route)...ect...now look at the streets without them...Bird, Lafeyette, Lancaster, Cleveland, Highland, Lexington, Hodge, ect. Now compare the property values of the homes on those streets...or just walk down them with your eyes open...one should not need empirical data to see that these bus routes are a burden to those particular streets...
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sbrof
Forest doesn't have a route, and neither does Potomac.
Virginia, Allen and North (Allen & north are the same route) all have buses that cross Elmwood also albeit smaller routes, none of those intersections are any worse or better than the ones around them.
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mbhxam
sbrof, point taken...however, your comment does not address mine...it just points out exceptions (possibly to the rule?)
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bboozehound
I lived in a place that had a similiar exterior, it was a college dorm! Now a days college dorms are much nicer. Maybe they are going for some weird 80's retro college dorm look? If the place was at all inspiring to look at from the exterior I would be interested.
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driz716
are they tearing down that boarding house that abutts the elmwood lounge building? i wouldn't pay 200k to live next door to that.
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wizardofza
Also, who in their right mind would pay that much money to live on a bus route?
Whoah! racist much?
You might as well have said: "Who in their right mind would pay that much money to live next to a n--er conveyor?" Time for you to get out of Buffalo and see the outside world a bit.
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sbrof
Lunch break details for parcels within 400' from an East-West Bus Route & Elmwood Intersection
All Parcels: - Bus Routes: $191,788 (jumps to $493,398 if you include downtown parcels at E/W bus intersections) - No Bus Routes: $225,988
But since this is a residential question really lets look at just residential parcels and drop out downtown and all commercial buildings - Bus Routes: $110,866 - No Bus Routes: $149,112
Specific Intersection information on bus routes: Utica: $113,624 Amherst: $84,942 Virginis: $74,442 Delavan: $162,130
Specific Intersection information off bus routes: Lexington: $167,636 Forest: $153,911 Tracy: $74,346 Bryant: $181,930
From this I feel that there are larger neighborhood or community problems that impact the quality of the buildings more than the proximity to a bus route considering there are highs and lows for both. There is a slight preference to non-bus routes but it is route to compare exactly because there are many more non-routes than routes and some whole neighborhoods are included into the non-route numbers. Take it for what you will. I would like to pull out just the parcels along the adjoining streets instead of an 'as the crow flies buffer' but my lunch is over and that takes longer to do.
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MichaelB
I would ask that everyone please not judge this project based on a preliminary rendering. I think it is a wonderful project and like someone said earlier, more of these kinds of projects is what Buffalo needs right now.
Blame the terrible renderer for the way the building looks in the rendering, I am sure that when it is fully realized that the building will look much better than the crappy itteration of what is supposed to be.
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reflip
I live near here. Because it's on a bus route. Near a subway stop. Bus to train to downtown. I can leave my car in my driveway if I want. I like having that option.
Add to that I can buy microbrews and Boars Head across the street at VBM. W. Utica/Elmwood intersection is awesome. Well, I guess I will concede it can only be considered as such if you live in 21st century America, on planet Earth. If you are still a resident of 20th century America, or some other planet, then I understand why you might hate it.
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TDSBLO
If you don't like the way it looks, don't buy it. Ya'll are thinking too much.
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sbrof
BRO, the only place where thinking, critique and debate are considered faux pas. Most other place this is called vibrant public participation. Our fault and many of our lingering issues isn't from too much debate but from 30 years of complacency and silence.
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mbhxam
sbrof...interesting data...i personally would have no problem living in these units...the rendering of the inside looks incredible...also it is a great stretch of elmwood...i was just making an obervation of those streets...i grew up in and continue to live in the elmwood area and have also taken notice of the poor shape that the streets with bus routes are in...
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wizardofza
The condition of these crosstown busroute streets which cross Elmwood has more to do with the way the streets were built rather than the fact that there are currently buses running on them. They way they were built up 100+ years ago is a more likely cause.
The housing stock on W. Utica was built more simple and cheap that houses on the surrounding residential street like Ashland, Highland, Norwood, ect. W. Delevan was mostly built with simple doubles as opposed to the grander and more detailed homes on Potomac, Argyle. Brantford, Chapin, ect. On Summer st., many of the old mansions have been broken up into small apartments and offices, giving the street a more anonymous/less neighborly feel due to the lack of owner-occupants.
While bland in design, this condo on W. Utica is a very positive development. This could be the beginning of a trend where these bus routes are being upgraded with higher-density, higher-quality housing. Just because a street is a little grungy NOW doesn't mean it will be that way forever.
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scottnorwood
sbrof, don't blame BRO, blame Buffalo.
I think it is safe to say that BRO has created just what you speak of, vibrant public participation.
and my participation is the following:
"these condos are ugly as hell"
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Andrew
i think a garbage can or two (that are frequently emptied) at these major bus stops wouldnt hurt either. elmwood & w. delevan by the great wall filled with bottles, cans and papers. Not to mention the smell of urine on a warm summer day.
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TDSBLO
sbrof;
:-)
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Sal
You can always tell when there's an interesting article here on BRO by the number of responses it receives.
There is serious demand for condos in the city. About 200 people showed up during the recent downtown housing tour (buffalohomecoming.com) for the 6 unit project at The Whitney and we're not even on the market yet.
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bc71
wizard,
Also, who in their right mind would pay that much money to live on a bus route?
That is not a racist statement. It may be classist, but certainly not racist.
The condition of these crosstown busroute streets which cross Elmwood has more to do with the way the streets were built rather than the fact that there are currently buses running on them.
That is a very good point and does indicate that the crosstown bus routes are not directly causing the negative aspects of those intersections.
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bc71
Sal,
Not to hijack this thread, but where can I find info on the Whitney Condiminiums. I am unable to find your company's website.
thanks,
Charlie
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Angus
Wizardofza, Ease off on the racist remark-when I mentioned the bus route I simply wanted to highlight the fact that the street is noisy and not in the best of shape. I know this because I live right around the corner from Utica. If the builders are looking to lure retirees or people from the burbs to the city (which is what they seem to aim for with this bland design) this type of traffic would probably make someone think twice before investing in these homes. Also, why do you assume that everyone who rides the bus is a person of color?
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WCPerspective
bc71- see: http://www.buffalorising.com/story/condo_conversion_in_the_west_v
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wizardofza
Angus, I don't assume, I base my statements off of real observations I make. I live two blocks from the condo site. I'm constantly walking and biking around by neighborhood. I can safely say the crosstown buses are overwhelmingly used by people of color.
Elmwood is also a noisy, high-traffic street, though if this condo were being built right on Elmwood I don't think I'd see you making the same comments. Also, anyone buying high priced property is well aware of the fact that city streets are often noisy and busy. If they wanted all peace and quiet all day they probably wouldn't opt to live in a vibrant urban neighborhood.
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Angus
Wizardofa, Bus routes/race/class issues aside (I would, by the way, say the same for Elmwood about the noise/traffic factor). I just think that 200, 000 for a one bedroom and 400, 000 for a two bedroom is a real stretch for that location. Also, just up the block on W. Utica bet. Elmwood and Delaware, while residents on that part of Utica have really made some nice improvements to their properties, Kaleida Health continues to buy up properties that could make great homes with the intention of knocking them down and building more surface parking.
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sonyactivision
I hope it sells out but I wish the developer would hire an architect next time and take things up another notch.
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AtwnMike
I’ve lived in the city for about 12 years and went the “buy the mansion” route. I don’t regret it but anyone who thinks these prices compare to renovating and maintaining something in this area is mistaken. I think being able to live in new build construction without leaving the neighborhood is a great option. I do agree that the design of this project has missed the mark. It looks like the new student housing at UB north campus.
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onestarmartin
I agree with AtwnMike. The "Mansion" route is not always a bed of roses, always, and I mean always some sort of repair or maintence to be done, along with yard work etc. Many days I dream of a condo where my gardening consists of tossing the ice from my martini shaker into the potted plant on the balcony before heading out to dinner..
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TownLine
bc71 - that BRO article is about all there is. I believe that they are not legally allowed to market those condos yet because of the state process. Someone else knows more about it than me, but thats why you can't find out anything about it.
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Bufago
OK Sal are the windows bullet proof on Whitney? Nice idea shitty spot
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Sal
Bufago - LOL, five years ago and maybe as early as two years ago I would've agreed with you. Have you seen the recent sales on the first block of Whitney or in the West Village?
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Andrew
Bufago- arent riskey places the best investments? dont we all say we wish we invested in the elmwood village or richmond or the west village 10 years ago?
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Jolopy
I investing in my first home on the west side. I thought it was a smart choice being 1 block from and expanding D'Youville and 1 block from Porter. There are bad streets but they only get better if your willing to take the time to make your house look good. You would be surprised how by simply planting dahlias, mowing my lawn and putting up a fence makes the owners around my realize they had dumps and start fixing theres up. The west side is on a turn around( north of Connecticut between porter) A house in here can be found around $30,000 and in 4 years I wont be surprised if its like Richmond. Just my 2 cents
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