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Seavest and Ciminelli Break Ground on $100 Million Project
Date:9/20/2013

Buffalo, NY (PRWEB) September 20, 2013

Developing and acquiring innovative healthcare facilities that address and anticipate industry trends has been a cornerstone of the investment strategy for Seavest Healthcare Properties LLC for decades. It is a proven formula that has enabled the White Plains, N.Y.-based private real estate firm to successfully develop and acquire more than three dozen medical office buildings (MOBs) and other healthcare facilities throughout the United States, delivering superior long-term value for its hospital partners, tenants and investors.

Now Seavest is undertaking its largest and perhaps most prominent and innovative project to date: the $100.7 million, six-story, 301,473 square foot (gross) Conventus building, which will be an integral part of the fast-growing Buffalo Niagara Medical Campus (BNMC).

To be developed and owned by Seavest in partnership with Ciminelli Real Estate Corp., the Conventus building, dubbed the Northern Gateway to the BNMC, will house a range of clinical, research and academic office users. It will occupy about 1.4 acres at 1001 Main St., one of the last undeveloped land parcels on the campus. Already a major hub for healthcare and an engine for regional economic growth, the 120-acre BNMC is home to more than 2 million square feet of clinical, education and biomedical research space, with another 2 million square feet scheduled to be completed by 2016.

Kaleida Health, the largest healthcare provider in western New York, and UB|MD, a leading medical practice associated with the University at Buffalo (UB) and the largest physicians’ group in western New York, will anchor the facility, with additional space available for hospitals, independent physician groups, biomedical research firms and other healthcare-related users, as well as about 30,000 square feet of ground floor retail space. The Class A MOB also will feature a two-level underground parking gar
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