BUFFALO, N.Y. — The former Gates Circle Homeopathic Hospital will be part of an affordable housing redevelopment at Gates Circle in Buffalo.
TM Montante Development announced a $40 million plan to redevelop the hospital as part of its $150 million Lancaster Square at Gates Circle Development.
The project will feature affordable housing units components by Belmont Housing Resources for WNY in the northern buildings. Belmont plans to complete 70 apartments - 27 one-bedroom, 40 two bedroom, and three three-bedroom units. The affordable apartments will be for individuals earning between 60%-90% Area Median Income (AMI).
A total of ten units will be reserved for people with physical disabilities. Of those units, seven will be for people with mobility impairments and three for people with hearing or visual impairments.
“This collaboration provides a great opportunity to expand upon our commitment to providing affordable housing throughout Western New York and will complement our diverse portfolio of managing housing complexes for seniors, those with disabilities and families,” said Brad Packard, Executive Vice President, Belmont Housing Resources for WNY said.
“This development will adhere to our core values as an organization that promotes inclusiveness, prioritizes integrity and provides exceptional customer service, especially given the unprecedented rise in the cost of living and in particular the cost of housing, we believe this project will bring much needed affordable housing options for families in the City of Buffalo.”
The southern portion of the former hospital will be used for mixed-use development. It is anticipated to include 40 apartments and 15,000 square feet of retail and commercial space.
“This plan represents a significant milestone for Lancaster Square at Gates Circle. It will bring new life to the original hospital buildings, which has been priority for us and the community,” said TM Montante Development President Chris Campos. “The redevelopment will also further our vision of creating a diverse community at the heart of one of Buffalo’s most iconic neighborhoods.”
Belmont Housing Resources for WNY has submitted a HOME Application to the City for $2 million, as well as seeking additional funding through the New York State Home and Community Renewal.
“We are delighted to be collaborating on this exciting housing and community development with Belmont Resources for WNY and look forward to working with all the stakeholders in and around Lancaster Square at Gates Circle as it moves forward,” Campos said.
