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First Niagara boosts new neighborhood

Donates $1.5 million to help with improving streetscapes, renovating nearby structures

By Jonathan D. Epstein

 First Niagara Financial Group said Wednesday that it will donate $1.5 million toward streetscape improvements in the neighborhoods around its new Buffalo headquarters and help to support remodeling and renovation efforts in the area.

The Buffalo-based banking company, which moved its corporate headquarters to the Larkin at Exchange Building, at 726 Exchange St., in September, said its contribution represents a “comprehensive plan to dramatically and visibly enhance homes, public spaces and business properties” in the Larkin District and nearby neighborhoods next year.

The face-lift is part of the bank’s “long-term commitment” to work with Howard Zemsky’s Larkin Development Group and government to jump-start that area and “make it a more pleasant and inviting place to be,” said John R. Koelmel, First Niagara president and chief executive officer. “This is our new home. It’s important that we help make the front yard and backyard a little better. We’re pleased to be able to provide a little economic stimulus.”

At the same time, it moves Zemsky’s long-standing hopes for the district closer to fruition. In fact, Zemsky said the project’s goal is not just to beautify the area but to stimulate development in that long-neglected portion of Buffalo’s urban core.

He already owns several other nearby buildings and has developed plans for many of the properties and the district as a whole, but “for us to kick off the next phase, we really needed the significant investment in infrastructure,” he said.

Plans for the Larkin District Streetscape Improvement project call for new streets, sidewalks, bike lanes, curbs, landscaping, lighting, benches, bus shelters and crosswalks next year over a half-mile stretch of Seneca Street from Fillmore Avenue to Larkin Street.

The project also includes the completion of a new Larkin Square Park at the triangular intersection of Seneca, Swan and Emslie streets.

In addition to First Niagara’s money, State Sen. William T. Stachowski, D-Lake View, also obtained a state capital grant of $150,000 for the project.

Also, Zemsky plans to renovate the long-vacant former Schaefer grocery store at 740 Seneca St., at Emslie Street, into commercial and residential space. Constructed in 1900, the building later became a branch of Marine Trust, forerunner to Marine Midland Bank. Zemsky bought the building a few months ago.

In its first foray into residential development, Larkin will invest more than $250,000 to renovate the 8,000-square-foot property to create at least four “stylish” loft apartments designed to appeal to artists or young professionals.

The building’s first floor will be used for a Larkin District Information Center to provide a “clearinghouse of resources” and a point-of-contact for residents, visitors, area businesses and employees. That’s expected to be occupied within three to four months, but the space will later be used for studio space for the upstairs residents.

Zemsky also announced that a former gas station at Van Rensselaer and Seneca streets will be converted into a restaurant, though he did not have specific plans.

Work on street improvements will begin in spring and should be done by September. Larkin’s renovation of 740 Seneca also will be done next year.

“It’s going to be a total rehab and revitalization of the whole streetscape and the foundation for the revitalization of the whole district,” Zemsky said.

Finally, the bank and Larkin Development are teaming up to establish a $100,000 Larkin Community Improvement Fund, to be administered by the Old First Ward Community Association. The two companies will each provide $50,000 to enhance a grant program for “improving the appearance, livability and market value of residential and commercial properties.”

The Old First Ward Community Association already offers grants for qualifying homeowners that pay up to 60 percent of the cost of repairs to their home, up to $25,000.

The new fund adds as much as $5,000 to those grants to help low-income homeowners with remodeling and renovation. Eligible businesses also can get up to $5,000 in matching grants for signs, painting or surfacing buildings, or making permanent improvements to the appearance of exteriors.

“We’ve got a lot of low-and moderate-income homeowners, and it costs a lot to put on a new roof,” said Laura Kelly, community association director.

Officials expect at least 15 single-family homes, multiple-unit apartment buildings and businesses will be renovated next year through the fund. Property owners who wish to participate can call 856-8613.

“We don’t have the Extreme Makeover bus, but our aspirations are for the same enthusiasm and energy,” Koelmel said. “You’ll see in the long run that this will be a better place to live and work.”

In all, the bank, Larkin and the state will invest more than $2 million on the project.

Any street work will be done by the city, which will be reimbursed. City officials also have been helping Larkin with design, planning and estimates, and will work on permitting, Mayor Byron W. Brown said, adding that he wants the project “fast-tracked.” The city’s capital program can also help bridge shortfalls, he added.

jepstein@buffnews.com