A $57 million renovation project is now underway at McCarley Gardens, a 15-acre affordable housing complex in Buffalo, New York. Planned renovations will focus on improving the property’s energy efficiency, quality of life for the residents, and existing infrastructure.
The scope of work also includes the construction of four new two-story townhome buildings on vacant land within the campus. As an affordable housing complex, all 149 homes will remain available to households with incomes at or below 60 percent area median income (AMI).
“We are working tirelessly to expand much-needed affordable housing throughout New York State, and this new housing upgrade will help strengthen Buffalo’s community and allow New Yorkers to live safely and sustainably,” said Governor Kathy Hochul. “Projects like McCarley Gardens Apartments are a key part of my administration’s commitment to provide modern and affordable homes, and to build toward a more prosperous future for hardworking families in Buffalo and beyond.”
McCarley Gardens Apartments consists of 21 townhome-style buildings that were built in 1978. When the renovation project is complete, the development will comprise 27 two-bedroom apartments, 94 three-bedroom apartments, and 28 four-bedroom apartments.
Individual apartments will receive new kitchens, low-flow bathroom fixtures, and cosmetic upgrades including new flooring and new paint. Site work will include the replacement of storm and sewer lines, repaved parking areas, new sidewalks, and remodeled landscaping.
To improve overall energy performance, each building will receive upgraded insulation, new windows, Energy Star-rated appliances, and high-efficiency boilers and hot water heaters. The retrofits are expected to reduce overall energy usage by approximately 29 percent.
“We are thrilled to be breaking ground on this critically important project today,” said Donald Capoccia, principal of BFC Partners, a leading member of the development team. “McCarley Gardens has been an integral part of the Buffalo community for over 40 years and through our partnership with St. Johns, we can ensure that it continues to serve longtime residents and future families for generations to come with affordable rents.”
Additional members of the development team include St. John’s Baptist Church and Sinatra & Co. Real Estate. State financing for the project includes $10.2 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that generated $24.3 million in equity, and $9 million in subsidies from New York State Homes and Community Renewal.
The New York State Energy Research and Development Authority (NYSERDA) will provide $94,500 in support. Additional financing is being provided through subordinated debt and a deferred developer fee.
“With this $57 million investment in McCarley Gardens Apartments, we are creating a healthier, safer, and more comfortable living environment for 149 families, who will also benefit from lower energy bills, upgraded amenities, and easy access to transit in downtown,” said HCR commissioner RuthAnne Visnauskas. “We are grateful for their support, and to have a leader like Governor Hochul, who understands that protecting and preserving existing housing developments is essential to ending housing insecurity once and for all.”
The renovation project is scheduled for completion by the end of 2023. Construction of the new buildings is expected to be completed by 2027.
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