$1.2M in grants aiding Buffalo customer
On Oct. 25 a Buffalo-based commercial developer thanked National Grid for its help with reviving former brownfield areas that have been transformed into headquarters for startup companies, a pizza shop, a brewery and office park.
Signature Development CEO Rocco Termini has invested $50 million to rehab four abandoned buildings on Chandler Street in Buffalo. The buildings had sat dormant for years and had been used as dumpsites for toxic waste. To aid in the rehab of each building, National Grid provided four, $300,000 economic development grants. The Oct. 25 event celebrated the completion of the most recent construction phase: buildings at 27 and 37 Chandler. Previous work had been completed at 155 and 166 Chandler.
“None of this development would have been possible without the help of National Grid, which has made a significant commitment to the redevelopment of Chandler Street and the people who work at the new companies there and call it home,” Termini said. “When you’re talking about grants that can help such projects, $1.2 million is a significant amount.”
In addition to the four completed buildings, Signature Development has plans to develop other parcels along Chandler Street.
National Grid regional director Ken Kujawa said that each project required its own set of challenges, various levels of cleanup, remediation and updated electricity service.
“And while this neighborhood has become a hot spot for music festivals, dining experiences, the brewery and new workspace, it’s exciting to think about what the future holds for Signature development and Chandler Street.”
All four grants were made available through National Grid’s Brownfield Redevelopment program, which funds utility-related infrastructure improvements and other costs necessary to progress the redevelopment of a brownfield site or vacant building. More information about National Grid’s economic development programs is available at www.shovelready.com