The Buffalo Municipal Housing Authority (BMHA) Board of Commissioners approved several actions last week required to commence Phase I construction of the new Marine Drive Apartments. Those moves included entering into a ground lease with the new ownership entity Marine Drive Apartments I LLC, signing a property maintenance agreement, granting $4 million of capital funds to assist with construction costs, and lending $900,000 in grant funds from the City of Buffalo’s Capital Bond Fund to the new ownership entity.
The development’s surface parking lot, where…..