$220 million in state redevelopment funds coming to Buffalo's East Side, Niagara Falls
Buffalo's East Side will benefit from $180 million announced by New York State Wednesday, with another $40 million going to Niagara Falls.
The money is coming through the Regional Revitalization Partnership, a multi-year initiative of Empire State Development, and will go toward six projects in Buffalo and three in the Cataract City.
"Investing in this coordinated, collaborative, strategic approach will maximize the benefits and reach of each state dollar invested," said ESD President and CEO Hope Knight. "This ambitious community effort will lead to transformational projects for these city neighborhoods and serve as a model that can be replicated throughout New York State."
- $61 million to stabilize and redevelop the Central Terminal
- $37 million to transform the Broadway Market into an international food hub
- $30 million for capital improvements along the Michigan Street African American Heritage Corridor
- $21 million for the Northland Workforce Corridor
- $6 million to enhance Martin Luther King Jr. Park
- $19 million to expand new food-related enterprises
- $15 million to enhance waterfront and heritage tourism
- $5 million for small business improvements
"This is an impressive, collaborative initiative that will amplify economic benefits beyond our downtown tourist district to reach into the City's neighborhoods by revitalizing assets with great potential like the City Market area as just one example," said Niagara Falls Mayor Robert Restaino. "The projects and programs identified for Niagara Falls were strategically identified through a public process of listening sessions and virtual meetings conducted over the last year with community partners and local citizens."
The Ralph C. Wilson Jr. Foundation has also pledged another $67 million in matching funds.
"This effort not only builds on the existing work of dozens of partners and funders that has already been underway in each individual community, but multiplies those efforts through strategic public and private investments that have great potential to reduce economic disparities and achieve transformational impact across the region," said Foundation President and CEO David Egner. "As a spend down foundation with just over 12 years remaining, this strong and strategic collaboration paved the way for us to make this substantial commitment at this moment in time benefiting three communities we care deeply about."
Another $80 million has been dedicated for commercial, small business, waterfront and workforce development efforts in Rochester.
Read the entire plan below: