Building Update is a regular feature highlighting progress on development projects throughout the region.
Project name: Campus Square
Address: 1100 Michigan Avenue and 903 Ellicott St.
Developer: MHT Holdings Inc. and McGuire Development Co.
Cost: $50 million for first phase
Description: Redevelopment of Pilgrim Village
Completion date: Multi-phase project
Lowdown: Work is expected to start shortly on the first phase in a planned redevelopment of Pilgrim Village into the new Campus Square mixed-use complex, as the developers seek to finalize the financing over the next few weeks.
Mark Trammel’s MHT Holdings Inc., which owns Pilgrim Village, is teaming up with McGuire Development Co. on a grand $200 million effort over several years to create a new residential and retail community just north of the Buffalo Niagara Medical Campus, with hundreds of apartments aimed at an inter-generational and mixed-income population.
The first phase of the project, estimated to cost about $50 million, involves demolition of five buildings with 25 townhouses, to be replaced with a 260,000-square-foot, six-story L-shaped building with apartments and retail space. Located on the southwest corner of the overall 12-acre property, the new building will include 152 apartments – 62 affordable senior units and 90 market-rate units, including for graduate student housing – plus 60,000 square-feet of first floor retail space.
Preparations are mostly complete, but the developers are waiting to close on the roughly $50 million construction loan – funded by a group of financial institutions, led by two local banks. R&P Oak Hill is the construction manager for the project, and officials have already awarded most of the contracts for specific construction work. The five older buildings have already been torn down, and workers have inserted exterior pilings and metal panels to secure the site. Once the loan closes, expected in a few weeks, contractors will start digging the hole, said McGuire President James Dentinger.