The historic Larkin District was largely boarded up in 2002, when the Zemskys made their initial purchase of the Larkin at Exchange Building. They believe the transformation of Larkinville into a premier commercial, residential and entertainment destination is a microcosm of what can happen throughout Western New York.
Why follow your own path?
Howard: At the time we bought our first Larkin building, the traditional approach to development in the community was to announce a project and then proceed to do it after it was 50% pre-leased. We did this project in an unconventional way whereby we began working on what we envisioned it would become before we had anyone say they were interested. I do think we demonstrated that you can take more risk than was traditionally accepted, and that the city and this neighborhood could be a great place to work. We attracted tenants from all over the region.Â
How place-based investments can shape communities?
Leslie: No one person or developer can singlehandedly transform any city. Breaking it down into achievable, digestible, impactful projects is how you can play a significant role in bringing companies into the city while revitalizing neighborhoods. The more people do that, and the more efforts that are initiated by people following their own passions, the more sustainable those developments are.
One of your guiding principles?
Howard: You have to create neighborhoods and places that young people want to be – period – because if you don’t attract young people to your city or your community or your neighborhood, then you can’t grow your population or your economy. What are we doing to create a cool, vibrant place for young people? That’s an important question not just for us, but for the entire region.
On preparing for a successful transition ...
Leslie: All organizations go through transitions, and we’re trying to do the same in a purposeful and natural way. We’ve all worked together now for years, so there’s no secrets of how we do things, or what we believe in, or what our tenants think of us or expect from us. We are just formalizing the transition that has been taking place.Â
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