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Month: October 2020

Oct 2020

Fannie Mae’s Doug Duncan offers his predictions for 2021

Doug Duncan doesn’t claim to be an oracle, but the Fannie Mae Senior Vice President and Chief Economist on Thursday offered some forecasts for 2021, even amid a pandemic that has thrown markets into disarray. The country is mired in a recession, and while the CARES Act provided a short-term jolt to the economy, much remains uncertain …

Oct 2020

5G towers will require far more infrastructure, but will they affect residential property values?

Several years ago was the first time I saw a cellphone tower dressed up like a gigantic Charlie Brown Christmas tree. The lifeless fronds wrapped around that steel sequoia hardly made it blend into the southern pines it dwarfed in its South Carolina neighborhood, but I thought, “Nice try.” That bit of clownish camouflage was …

Oct 2020

Citing litigation, National Fuel seeks another Northern Access pipeline delay

National Fuel said in a federal filing Friday that it needs another extension of the deadline to complete its natural gas pipeline from Pennsylvania to the Niagara River. The company’s letter said it is still committed to the project, but it asked the Federal Energy Regulatory Commission to move the completion target for the project …

Oct 2020

Construction Watch: Exchange Street Station

Work on the Exchange Street Train Station is wrapping up. The $27.7 million facility is expected to open before the end of the year. Seating capacity is increasing from 20 to 40 persons, while the image of a Buffalo will also be featured at the center of the station’s Terrazzo floor. The existing station’s low-level …

Oct 2020

Housing Market Update: U.S. Home Prices Rise 15% to Another All-Time High

Median home price climbs to $320,644 as demand outpaces supply, with pending sales up 31% and new listings growing 8%. Key housing market takeaways for 434 U.S. metro areas during the four-week period ending October 11: The median home sale price increased 14.9% year over year to $320,644—the highest value on record in Redfin’s data. The …

Oct 2020

Existing-Home Sales Soar 9.4% to 6.5 Million in September

WASHINGTON (October 22, 2020) – Existing-home sales grew for the fourth consecutive month in September, according to the National Association of Realtors®. Each of the four major regions witnessed month-over-month and year-over-year growth, with the Northeast seeing the highest climb in both categories. Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and …

Oct 2020

Town of Niagara emerges as first choice for aircraft manufacturer

NIAGARA COUNTY, N.Y. — The Town of Niagara has emerged as the preferred location for an aerospace manufacturer looking to develop and build high-tech planes. John Simon, Stavatti Aerospace Ltd. chief strategic development and asset officer, said a former U.S. Army Reserve Station hangar on Porter Road has become the Wyoming company’s top choice to …

Oct 2020

The Natalie Barnhard Center for Activity-Based Spinal Cord Injury Rehabilitation and Recovery

The first specialized spinal cord injury (SCI) rehabilitation and recovery center in Western New York is slated to open spring of 2021. The center, founded by Natalie Barnhard, President of the Motion Project Foundation, will provide invaluable rehabilitation and recovery services to those living with spinal cord injuries. Barnhard herself is a recovering spinal cord …

Oct 2020

Lockport approves solar project over neighborhood opposition

The Lockport Common Council voted 4-2 Wednesday night to grant a permit to a company that plans a solar power project in what are now agricultural fields on the south side of Summit Street. The site, long owned by the Ruhlmann family, is leased to OYA Solar NY of Toronto. The project, covering nearly 14 …

Oct 2020

A Dozen Mid-Sized Markets to Watch in 2020

As summer turns to fall in a year that has been anything but normal, the nation’s most in-demand housing markets are not the usual suspects. A new Zillow analysis shows mid-sized cities like Boise, Syracuse, and Portland (ME) are now leading the country as the top markets poised for growth, replacing expensive coastal metros such as San …

Oct 2020

Wheatfield properties in big mortgage lose two-thirds of value

Three Niagara County commercial properties owned by developer Nick Sinatra and members of the Nanula family have lost two-thirds of their value because of plummeting revenues, potentially putting the future of a $23 million mortgage backing the properties at risk. The two commercial office complexes comprising the Woodlands Corporate Center, along with an industrial property at …

Oct 2020

Brownfield cleanup needed before apartments are built in Lockport plant

  A plan to convert a building at the old Harrison Radiator plant in downtown Lockport into 77 apartments must wait until a brownfield cleanup is completed. The state Department of Environmental Conservation announced Wednesday that Kearney Realty & Development Group of Baldwin Place has applied to the state Brownfield Cleanup Program. The application says …