One investor, over a few months back, asked me – where are the attractive areas for young entrepreneurial people in Buffalo? And it was a question that, despite there being some lovely city neighbourhoods, I couldn’t really answer at the time, and it made me think about the central part of Buffalo and the opportunity it presented.
The heart of any city is the most important part. It’s the image the city projects to the outside world – the perception of itself that reflects the cities pride in itself. The thing that tells people ‘we mean business’.
British cities got this ten years ago – inner city areas of Glasgow, Liverpool, Manchester and Leeds sprouted new mixed use and residential developments, boosting the city tax base, cutting flight to suburbs, and creating a pleasant place to live within short commute to work. City centers were transformed, people flooded back, and from long derelict warehouses were created funky new living spaces.
The trend has finally hit Buffalo, and not a moment too soon. From out of nowhere, it seems, dozens of development projects have started coming out of the woodwork in Buffalo’s downtown area – loft apartments, glitzy hotels like the newly renovated Lafayette.
Not only does this positively effect the city tax base, it bringing a whole new style of living to the city, providing a critical mass of attractiveness for upwardly mobile downtown residents. And finally giving a loft with a view, and something to be proud of, for those ‘young entrepreneurial people’ my friend had asked about.
Author Alan W. Findlay is a Partner in Abbotsinch Capital with more than 15 years of experience in real estate investment. You can contact Alan to discuss investment opportunities in Buffalo via E-mail: email@example.com or by phone: +44 (0) 20 7193 2079.