Buffalo, NY — A transformative $600+ million redevelopment of Marine Drive Apartments is officially underway in downtown Buffalo. The Habitat Company closed on the historic waterfront property in late December 2025, marking a major milestone in the region's affordable housing and urban revitalization efforts.
Marine Drive Apartments, located at 205 Marine Drive in downtown Buffalo, has been a defining feature of Buffalo's waterfront for more than 70 years. The seven-building housing complex currently provides shelter to hundreds of residents but has fallen into significant disrepair in recent years. Rather than attempt piecemeal repairs, project leadership determined that complete replacement was the most cost-effective and sustainable approach to ensure modern building systems, energy efficiency, accessibility and long-term affordability.
The redevelopment partnership brings together The Habitat Company, a leading U.S. multifamily developer, alongside Duvernay + Brooks and the Buffalo Municipal Housing Authority (BMHA). Together, these organizations are reimagining the property as a vibrant, mixed-income community that will serve residents and the broader Buffalo region for generations to come.
The Marine Drive redevelopment represents one of Buffalo's most significant infrastructure and housing investments in years:
State Funding: New York State Homes and Community Renewal (HCR) is investing $208 million through tax-exempt bond financing, Federal Low-Income Housing Tax Credit (LIHTC) programs, and State LIHTC programs. This funding represents Gov. Kathy Hochul's administration's strong commitment to creating and preserving affordable housing across New York.
The project also includes funding from the New York State Department of Environmental Conservation's Brownfield Cleanup Program (M&T Bank invested $31.6 million through this program), along with contributions from the Buffalo Urban Renewal Agency ($2 million) and the City of Buffalo ($900,000).
The Marine Drive redevelopment will unfold over three phases, with Phase 1 now officially funded and under design:
Phase 1 Components:
Major Infrastructure Investments:
Beyond housing, the project includes substantial infrastructure modernization:
The redeveloped Marine Drive apartments will feature modern upgrades designed to enhance resident comfort, safety and quality of life—a significant improvement over aging infrastructure at the existing complex:
Critical Build-First Approach: Habitat's development strategy ensures that all current Marine Drive residents can remain in their homes throughout construction. New apartments will be completed before existing residents are relocated, preventing displacement during the redevelopment process.
Marine Drive Apartments is far more than a housing project—it represents Buffalo's commitment to waterfront revitalization, economic development, and equitable community growth. The project demonstrates how public-private partnerships, strategic state investment, and community engagement can transform aging public housing into modern, sustainable communities.
The redevelopment will create an estimated 20,000+ construction and permanent jobs during the multi-phase development. When completed, the vibrant mixed-income community will attract new residents and visitors to Buffalo's waterfront, supporting local businesses, restaurants, and cultural institutions along the Erie Canal.
Location Advantage: Marine Drive's proximity to the Erie Canal Harbor Metro Rail station positions it as a transit-oriented development. Residents will have convenient access to public transportation, reducing car dependency and supporting the region's sustainability goals.
Brownfield Remediation: The project also addresses environmental concerns associated with the historic industrial waterfront site, ensuring public health protection while creating valuable community space.
Development Team:
Key Milestones:
The Marine Drive project aligns with Governor Hochul's broader commitment to affordable housing and economic development. According to project leadership, the financing structure demonstrates how innovative financing can make large-scale housing projects sustainable for communities.
When completed in 2031, the Marine Drive Apartments redevelopment will serve as a national model for how cities can revitalize aging public housing while maintaining affordability and preventing resident displacement.
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