201 Ellicott Street is the transformation of a former surface parking lot into a vibrant, engaging mixed-use development in Downtown Buffalo. Through a competitive Request For Qualifications process, the City of Buffalo selected Ciminelli Real Estate Corporation as the designated developer in 2016. Ciminelli engaged Smith & Henzy as development and financial advisor to bring the development to fruition. The mixed-use development includes affordable housing, retail space which will be operated as a fresh food market, and publicly accessible open space that can be activated for outdoor farmers markets and food truck events, as well as other creative engagements such as music performances. The 202 one- and two-bedroom units are affordable to households with annual incomes from 30% to 80% of AMI. Though envisioned as one project, the affordable housing and retail components are in fact two standalone projects, financed separately. Smith & Henzy expertly structured and obtained feasible financing strategies for each component.
