Better Buffalo Fund
The Better Buffalo Fund aims to create vibrant, mixed-use, high-density neighborhoods. It is focused on supporting projects that encourage density and growth along transportation corridors and revitalize neighborhood commercial districts. It offers grants and loan funds through two initiatives - Transit Oriented Development and the Buffalo Main Streets Initiative, administered by NYS Homes and Community Renewal. New York State has committed $40 million to the Better Buffalo Fund, via $30 million in Buffalo Billion I and $10 million in Buffalo Billion II.
In Summer 2022, 11 projects received awards totaling $5,166,500 million through the fifth round of the Better Buffalo Fund (BBF). The latest round of funding will help complete the renovation of 71 residential units and more than 29,339 square feet of storefront and commercial space, while leveraging more than $33 million in additional private and public investment. Projects awarded include:
Transit-Oriented Development Awarded Projects
Five Transit-Oriented Development awards totaling $2,620,000 in loans.
- The Ring Building at 319 Connecticut Street - $400,000 loan
- 1762-66 Main Street - $420,000 loan
- The Building @ 1325 - $200,000 grant
- Apartments at the Lyceum - $500,000 grant
- 1646 Genesee - $1,100,000 loan
Buffalo Main Streets Initiative Awarded Projects
Six Main Streets awards totaling $2,546,500 in grants.
- Grant Amherst Revitalization - $500,000 grant
- Development for Delavan Round 2 - $346,500 grant
- East Lovejoy Commercial District Resurgence - $400,000 grant
- 200-400 Block of Main Street Revitalization - $300,000 grant
- Renew Kaisertown 2022 - $500,000 grant
- West Side Bazaar Expansion - $500,000 grant
After five rounds of the program, the $40 million Better Buffalo Fund has awarded more than $35 million to 58 projects, leveraging more than $230 million in private investment in the City of Buffalo. See map here.
For Round 4, the geography for Buffalo Main Street Initiative applicants was extended to include Broadway (between Cedar and Mortimer streets) and Main Street (between Mohawk and Seneca streets) and four target areas were removed from the program—Bailey, Broadway/Fillmore, Fillmore/MLK and Jefferson Avenue—as funding is allocated to those areas through specific programming in the $65 million East Side Economic Development Corridor Fund. For Round 5, the BMSI geography was extended to include a larger portion of Broadway (extending from Mortimer Street to Reed Street) and a portion of Abbott Road (between Robins Street and Cazenovia Street).
Round 5 is now closed. Information on future rounds will be posted to this site.
The Better Buffalo Fund is the primary vehicle under the Buffalo Billion to foster the transformation of the City of Buffalo’s physical environment by improving transportation and revitalizing neighborhoods. With the tremendous expected economic and job growth facilitated through Buffalo Billion initiatives—now numbering thousands of new jobs—the Better Buffalo Fund will ensure people are connected to those jobs.