Construction of new affordable housing project in Buffalo nears completion

BUFFALO, N.Y. (WIVB) — Construction on a new affordable housing project in Buffalo that will include commercial and mixed-use space is almost complete.

The Monroe, located at the corner of Main Street and Lafayette Avenue, has been in the works for more than four years. The $8.4 million project, funded by local and state groups, is on the site of the former Record Theater in Buffalo’s Hamlin Park neighborhood. The area was also once home to a historic car dealership.

The site will include 17 affordable apartments, a Persian-themed restaurant, two other international restaurants, a beauty salon and a co-working space.

The developers are aiming for an apartment opening date of July 1, but it could also be as early as June 1. Retail spaces are expected to open later in the summer.

“Our goal is to provide affordable housing with finishes and comforts that market-rate housing has,” said project developer Jason Yots. “There’s no reason for people to accept an inferior product because they can’t afford to raise rents. We offer great opportunities at very affordable rents.

The project area was chosen because of its location, right in the middle of Buffalo, near the village of Elmwood. It is close to the city center, just around the corner from Canisius University and on major transportation lines.

“If you look at a map of Buffalo, you’re almost in the center of the city,” Yots said. “It made sense to us. Hamlin Park to the east is a very vibrant neighborhood, Elmwood Village to the west is a very vibrant neighborhood…so we thought it was a great place not only for housing, but also for affordable housing.

They will also ensure that the history of the building and the entire neighborhood is preserved.

“This project was motivated by historic preservation. This building is historic because of its role in Buffalo’s rich automotive history,” Yots said. “It was a win-win for the community. We preserved an asset, we gave investors the opportunity to make money, and as developers we delivered a project that we are proud of.