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In the News

Jul 2020

Gold Wynn buys Main Street apartments from Kolkmeyer

The three Canadian brothers who have been snapping up Buffalo apartment buildings and other properties have struck again, buying up a 27-unit Main Street apartment building from banker-turned-developer Paul Kolkmeyer. Gold Wynn Residential – owned by Jeff, Leslie and Paul Wynn of Toronto – paid $1.9 million through Gold Wynn Mercer Commons to purchase a four-story brick …

Jul 2020

Lackawanna passes $26.7 million budget

A $26.7 million spending plan was approved by the Lackawanna City Council by a 3-1 vote. The budget represents a $795,000 decrease from the previous fiscal year and marks the first budget that will unify the city’s tax rate, combining the homestead and non-homestead tax structure in effect since the closing of Bethlehem Steel almost …

Jul 2020

LANCASTER BREAKS GROUND ON $8.5 MILLION WEST MAIN STREET PROJECT

LANCASTER, N.Y. — The Village of Lancaster has now broken ground on its West Main Street project. The $8.5 million project will transform the village and extend West Main over to Aurora Street, ending with a new mini-roundabout. There will also be a few other new roundabouts and new opportunities for mixed-use development. Local business …

Jul 2020

‘Master’ no longer used to describe bathrooms and bedrooms by Houston real estate group

These bedrooms and bathrooms are nobody’s master. Earlier this month, the Houston Association of Realtors dropped the word “master” for specification, opting for “primary” as a more inclusive descriptor. “The Multiple Listing Service advisory group regularly reviews the terms and fields used in the MLS to make sure they are consistent with the current market …

Jul 2020

$50 million film, TV production facility coming to Buffalo’s West Side

Expect the traditional film cue of “lights, camera, action” to be heard a lot more around Buffalo with the announcement Tuesday that a $50 million-plus film and television production complex will be built on the West Side. Great Point Capital Management, a media investment fund, purchased the land at Niagara Street and West Ferry from …

Jul 2020

Tonawanda’s Huntley plant sale falls through: ‘Not a good day for the town’

The deal to sell the shuttered Huntley Generating Station in the Town of Tonawanda is off. NRG Energy and WB Huntley Redevelopment announced Tuesday that the sale of the plant site and landfill has been “suspended.” “It’s not a good day for the town,” Supervisor Joseph Emminger said. Emminger said NRG told him Tuesday afternoon …

Jul 2020

Update: Buffalo FilmWorks acquires 1167 Clinton Street

Through major grant funding, Buffalo FilmWorks has acquired 1167 Clinton Street, which means that this property is no longer for sale. Buffalo FilmWorks is currently located next door to this property (in the white warehouse – learn more). This acquisition means that the film studio will be significantly expanding its operational footprint. Stay tuned. Not far from …

Jul 2020

Home Prices: It’s All About Supply and Demand

As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the big picture, supply and demand will give us the clearest idea of what’s to come. Making our way through the month of …

Jul 2020

Mortgage rates fall to new all-time low this week

Mortgage rates dropped to a new all-time low in the U.S. this week as a resurgence of COVID-19 infections caused investors to pile into the bond markets. The average rate for a 30-year fixed mortgage was 3.07%, the lowest in a data series that goes back to 1971, and down from 3.13% last week, Freddie Mac said on Thursday. …

Jul 2020

Houlihan Lawrence: Luxury homes selling ‘remarkably well’

Houlihan Lawrence has released its report on the luxury housing markets during the second quarter of 2020 in Westchester, Putnam, Dutchess and parts of Connecticut. While some of the statistics show gains, others indicate softness. Houlihan’s analysis found, “Luxury home sales north of NYC performed remarkably well despite the ‘pause’ in New York state and …

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