BUFFALO, N.Y. (WIVB) — Buffalo’s Office of Strategic Planning has released a new report detailing development in the city over the past decade.
The city says the value of public and private development since 2012 is estimated at $9 billion.
“What a great vote of continued confidence in our city, that we can celebrate reaching over $9 billion in total new investment over the past ten years,” said Mayor Byron Brown.
The city says that in 2022, development was valued at more than $428 million and the city’s east and west sides were the top two areas for it. Specifically, the developments they spoke of included those in housing, retail, office space and industrial categories, among others.
Dollar value of development in Buffalo (2022):
- East Buffalo: $116,035,185 (21 projects)
- West Buffalo: $197,674,873 (44 projects)
- North Buffalo: $37,239,933 (36 projects)
- South Buffalo: $17,475,000 (7 projects)
- Central (Downtown & Waterfront): $60,256,630 (18 projects)
126 development projects were initiated, 519 market rate apartment units were planned and 492 affordable apartment units were planned in 2022. Those apartment unit counts are predevelopment estimates and could “change as projects move forward,” the city says.
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