McCarley Gardens Apartments

Governor Kathy Hochul announced the start of a $57 million rehabilitation at McCarley Gardens apartments in Buffalo, NY St. John Baptist Church, BFC Partners and Sinatra & Co. Real Estate are part of the development team. Plans call for the renovation of 149 units, which are reserved for families whose income is at or below 60% of the region’s median income.

The redevelopment is supported by a range of state funding, including $10.2 million in permanent tax-exempt bonds, federal low-income housing tax credits that will generate $24.3 million in dollars in equity and a $9 million grant from New York State Homes and Community Renewal. An additional $94,500 will be provided by the New York State Energy Research and Development Authority. Subordinated debt and deferred sponsor fees will provide additional funding.

past and future

Built in 1978, the community currently consists of 21 townhouse-style buildings. Four additional two-storey townhouses will be built as part of the redevelopment. When completed, the development is expected to consist of 27 two-bedroom units, 94 three-bedroom units and 28 four-bedroom units. Community facilities include parking, a playground and a community hall.

New kitchens, bathroom fixtures, improved insulation and high-efficiency boilers will be added to the community as part of the renovation. Work will also include new landscaping and sidewalks, repaving the parking lot, and replacing storm and sewer lines. Additionally, the renovations are expected to reduce the property’s overall energy consumption by almost a third.

Located at 818 Michigan Ave., the community is 1 mile northeast of downtown Buffalo and approximately 2 miles northeast of Buffalo Naval Park. Several retail, dining and entertainment options are available within a one mile radius.

Last October, a Sinatra & Co. Real Estate joint venture began work on another affordable housing project in Buffalo, the 90-unit Jefferson Avenue Apartments. The community is expected to include a commercial component, which will serve as the new headquarters for the Western New York Veterans’ Housing Coalition.