Survey shows snapshot of downtown living

[steven]

Over the past few years, representatives from the City of Buffalo and Buffalo Place Inc. knew that people were moving into downtown and the central business district.

Now, they have additional proof that goes beyond leased apartments and sold condo units.

A just-completed Buffalo Place residential survey provides a snapshot of who has moved into downtown and who wants to move into the central business district -- and the news is all good.
Among the survey's highights:

• Only 8 percent of those moving into downtown are younger than 24 years of age. More than one-quarter, approximately 26 percent, were between the ages of 25 and 34 while 22 percent were 65 years of age or older.
• Those moving downtown are pretty much evenly split along gender lines with 51 percent female and 49 percent male.
• More than one-third have average household incomes that exceed $70,000 annually.
• Approximately 17 percent live downtown but work in the suburbs while 22 percent work somewhere in Buffalo, other than the central business district. One-third live and work in downtown.
• Nearly 38 percent have moved into downtown within the past five years including 13 percent in the last year. Another 21 percent have lived in downtown for anywhere from five to 10 years.

"That's a good trend," said Anthony Colucci III, Buffalo Place Inc. vice chairman and president.

Of those that have moved downtown, 33 percent came from one of the region's suburbs while 42 percent moved from elsewhere in the city. The remaining 25 percent came from out-of-town locations including 13 percent from outside New York state.

• Some 45 percent expressed interest in buying a downtown residence while 31 percent already own a condo or residence in the central business district. Of the would-be buyers, 36 percent said they would be willing to invest between $100,000 and $200,000 on a downtown residence while 14 percent would be willing to pay between $200,000 and $300,000 and 15 percent would be willing to spend more than $300,000 on a downtown address.

http://www.bizjournals.com/buffalo/s...ml?jst=b_ln_hl

[Timmy]

Buffalo could 2x-3x its residential, commercial and industrial development IF IT JUST BUILT THE PROPERTIES.

THE PROBLEM AS EVERY STUDY HAS SHOWN IS WE ARE NOT BUILDING ENOUGH!

We are waiting until 10 or 20 people sign on....reality is that people and businesses dont want to sign on to build .... they want to sign on to move in.