Buffalo, N.Y. (WBEN) - Construction on the oft-delayed Heritage Point project is poised to begin, again, within the next few weeks.
Developer Nick Sinatra said some preliminary work is already underway, including testing the existing steel structure and other materials. A full scale construction effort will start soon, as Sinatra finalizes his construction and development financing for the $45 million-plus Canalside project.
"We are mobilizing and getting ready to put this project into overdrive," Sinatra said.
The delays have kept the project in a stalled, or pause, mode for well over one year.
Facing rising construction costs, financing issues and workforce matters, Sinatra sought some additional fiscal help from the Empire State Development Corp., who authorized a $4 million loan to aid the Heritage Point project.
The delays brought criticism and questions, especially from Erie County Executive Mark Poloncarz, an ex officio Erie Canal Harbor Development Corp. board member. The ECHDC named Sinatra designated developer for the site.
Sinatra, in late 2018, was named designated developer for the vacant parcel that adjoins the Explore & More children's museum and sits kitty corner to the LECOM HarborCenter.
Work got underway but has been stalled for more than one year, leaving the exposed steel frame but not much else on the site.
"Let's face it, this is a challenging time to be in construction in Western New York," Sinatra said. "I'm working on a project that is very expensive to put up."
Heritage Point will be anchored by 64 apartments plus some office and retail space. It is the first, residential-anchored, private sector-backed project to get underway within the Canalside footprint.
The project should be tenant move-in ready by late 2026 or early 2027 just as another Canalside development begins to ramp up.
Work by the Pennrose Co. to develop the "North Aud Block" into a mix of residential, commercial and retail buildings is expected to start next spring.
"I know this is a critical project for Canalside and downtown," Sinatra said. "I also know it can be huge economic driver."