Ciminelli Real Estate Corp. and Seavest Healthcare Properties LLC plan to develop the $100.7 million, 300,000 square foot outpatient and research facility on the campus of the 501-bed Buffalo General Medical Center. (Rendering courtesy of Hammond Hanlon Camp LLC)
H2C taps Seavest for $100.7 million Conventus project
By John B. Mugford
Healthcare real estate development is playing a key role in Buffalo’s resurgence.
Everyone seems to know all of the negatives – and the jokes – about Buffalo, N.Y., such as the back-breaking 93 inches of annual snowfall, the devastating loss of 50 percent of its population during the past 70 years, a lackluster pro sports scene that includes a four-time Super Bowl-loser (the Bills), the prolific loss of industry in recent decades, and so on.
Yet despite all of the negative attention and verbal attacks, Buffalo is in the midst of a remarkable comeback. People are actually becoming excited to shuffle off to Buffalo instead of out of it.
And as is the case in many cities around the country, healthcare has been and continues to be one of the major drivers of the city’s economic revival. The healthcare renaissance, if you will, is centered on a relatively new and growing medical district near the center of the city, just a few blocks north of Buffalo’s central business district.
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