Governor Hochul Announces Additional $10 Million for East Side Building Fund in Buffalo

Governor Kathy Hochul today announced an additional $10 million in funding for the East Side Building Fund in Buffalo. This pivotal investment will accelerate private building renovations, historic building stabilization and infill development, continuing the state's multi-year effort to foster thriving, sustainable economic hubs across Buffalo's East Side. Assembly Majority Leader Crystal Peoples-Stokes served as a vital partner in securing this funding. The new $10 million funding round is expected to launch in the coming months.

"This fund is about community-led revitalization, from breathing new life into historic storefronts to transforming our commercial corridors," Governor Hochul said. "With this additional $10 million, we are building on Buffalo's momentum - turning vacant spaces into vibrant community spaces and ensuring families and business owners share in our city's success. I also want to extend my deepest thanks to Assembly Majority Leader Crystal Peoples-Stokes for her unwavering partnership on this initiative and honor her incredible, transformative legacy as she prepares to retire from the Assembly. Her fierce advocacy has shaped Buffalo for generations to come."

Assembly Majority Leader Crystal Peoples-Stokes said, "The success of commercial corridors in other parts of the City of Buffalo can and should happen on our east side. The East Side Building Fund is helping to revitalize these corridors so that their potential can be realized. I have been a strong supporter of this fund and see the value in continuing to invest in our east side neighborhoods."

First launched by Governor Hochul in May 2025, the East Side Building Fund emerged from a collaborative initiative uniting Empire State Development (ESD), philanthropic partners and local community leaders. To date, ESD has processed 300 East Side Building Fund applications, advanced 50 finalists and awarded $10 million to 35 commercial and mixed-use projects through key commercial corridors on Buffalo's East Side.

Eligible projects must involve commercial or mixed-use properties - such as storefront buildings featuring ground-level retail with residential units above - located on Buffalo's East Side. Preference is given to projects within or adjacent to priority business districts, including Jefferson Avenue, Fillmore Avenue, Michigan Avenue, Genesee Street and Bailey Avenue.

Empire State Development President, CEO & Commissioner Hope Knight said, "This additional $10 million for Buffalo's East Side Building Fund will expand our impact, providing the capital and technical support needed to transform commercial corridors and promote long-term economic growth. We are grateful to Governor Hochul and Assembly Majority Leader Crystal Peoples-Stokes for their continued commitment to community-driven revitalization."

The East Side Building Fund streamlines three legacy ESD initiatives: the East Side Commercial Districts Program, the Commercial Building Stabilization Fund and the Community-Based Real Estate Development Training Program Fund. Together, these precursor programs have supported more than 60 capital and predevelopment projects while training a new cadre of local developers.

State Senator April N.M. Baskin said, "Buffalo's East Side has no shortage of entrepreneurs, small businesses, and people working to build stronger communities, create jobs, and build wealth. With the right investments, corridors like Jefferson Avenue, Fillmore Avenue, Michigan Avenue, Genesee Street and Bailey Avenue can become thriving destinations for businesses and families, just as we've seen elsewhere in the city. I thank Governor Hochul and Majority Leader Crystal Peoples-Stokes for their continued commitment to investing in the East Side."

City of Buffalo Mayor Sean Ryan said, "Building a better Buffalo means investing in all our neighborhoods and supporting the people who are working every day to strengthen them. This additional $10 million will help restore storefronts, save historic buildings, and give small businesses more opportunities to grow. I thank Governor Hochul and Majority Leader Crystal Peoples-Stokes for delivering this funding and for their continued commitment to the East Side."

Erie County Executive Mark Poloncarz said, "Investments like the East Side Building Fund can make all the difference in helping new businesses to succeed while keeping historic infrastructure alive and intact. These funds keep American dreams and local history moving forward. I thank Governor Hochul and Majority Leader People's-Stokes for their commitment to investing in our workforce, our history, and a better economy for Buffalo and Erie County."

About Empire State Development
Empire State Development is New York's chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state's 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state's world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.