LISC NY Has Leveraged Nearly $40 Million in Development Costs in Buffalo Since Transitioning to a Statewide Office
Between 2022 and 2025, LISC NY invested more than $40 million in lending activity supporting the creation of homes, strengthening of infra structure, and stability of local businesses
NEW YORK, NY – June 12, 2026 – Local Initiatives Support Corporation NY released a four-year report today highlighting that its lending portfolio in Buffalo has demonstrated a powerful and accelerating performance. Over the past four years, lending in Buffalo totaled $4.33M, leveraging over $39M in development costs.
The investment growth has heavily targeted Buffalo’s East Side, where LISC NY has led the East Buffalo Small Business Working Capital Grant Program to support local businesses in the after math of the May 2022 shooting at Tops Friendly Market, as well as Clean Mobility Buffalo, which is expanding healthy, environmentally friendly transportation options in an area with long standing infrastructural challenges.
Buffalo has come to serve as an anchor for LISC NY’s statewide efforts, representing a formula for meaningful investment and community-building strategies, which can be tailored for and replicated in other upstate markets. Since becoming a statewide office in 2022, LISC NY has leveraged more than $1.1B in total development costs and invested approximately $311M in lending activity across New York State.
“Our investment in Buffalo is a powerful example of what happens when we are guided by community partnership and long-term commit ment,” said Valerie White, Senior Executive Director of LISC NY. “Through targeted lending, grants, and local partnerships, we’re helping small businesses reopen and grow, expanding housing and transportation access, and building the kind of neighborhood infrastructure that creates lasting economic opportunity. The progress we’re seeing in Buffalo shows how catalytic capital can help communities not just recover but also build a stronger future.”
Buffalo witnessed tremendous growth with marked expansion begin ning in 2023, driven by increased technical assis tance, deeper partner ships, and a growing pipe line of community-rooted developers. Because of this, LISC NY deployed comprehensive efforts to anchor its statewide presence in Buffalo, pairing strategic grantmaking with significant lending activity, technical assistance and community focused initiatives.
Through these strategies, LISC NY has helped create 75 homes, activate nearly 23,000 square feet of commercial space, create 125 jobs for local community members, and closed five loans in sup port of development over the past four years.
LISC NY’s expanded statewide presence has helped increase investment across Buffalo and deploy programs focused on strengthening local organizations, supporting major development projects, expanding small business resources, and advancing transportation, housing, and homeowner ship efforts.
For example, The East Buffalo Small Business Working Capital Grant Program was created in partnership with Governor Kathy Hochul’s administration and Empire State Development to provide vital financial support to small businesses in East Buffalo, with the broader goal of stimulating economic growth in the aftermath of the mass shooting tragedy at Tops Friendly Market in 2022. Through the program thus far, LISC NY has dispersed nearly $2.2M in grant funds awarded to around 150 small businesses within the community.
LISC NY has also sought to elevate Buffalo infrastructure initiatives, such as Clean Mobility Buffalo (CMB), a coalition of stakeholders committed to improving transportation access and connectivity on Buffalo’s East Side that’s deploying funding made available by the New York State Energy Research and Development Authority. CMB’s key initiatives included:
E-Bike Library: The first of its kind in New York State, located at the East Side Bike Club on Delavan Avenue. Residents can learn about e-bike safety and reserve electric bikes for free.
Reddy Bike Expansion: New stations installed at major East Side landmarks such as the Buffalo Science Muse um, NFTA Metro’s Utica and Humboldt-Hospital stations, and Johnnie B. Wiley Stadium, with reduced rate rentals for residents.
Infrastructure Improvements: Enhance ments to the Michigan Avenue corridor include upgraded crosswalks, bike lanes and streetscape improvements. More than 300 homes and business es in the Delavan-Grider area were canvassed for interest in tree plantings, bike racks, and pedestrian lighting.
Mobility Ambassadors: Local leaders trained to support public transit accessibility, with a focus on serving people with disabilities and new Americans navigating public transportation.
Clean Commute Initiatives: Reducing single-occupancy vehicle commuting by working with large employers to promote biking, public transit, and carpooling incentives.
Through CMB, LISC NY is also seeking to aid the launch of a local electric car share pro gram, the revitalization and connection of East Side trail corridors, and infrastructure upgrades to Kensington and Delavan Avenues.
In addition to Buffalo, LISC NY is continuing to expand and advance its grant programs, housing and homeownership pro grams, and community development initiatives in areas throughout the state, including Syracuse, New York City, Ithaca, and Albany.
About LISC NY
About LISC NY Local Initiatives Sup port Corporation NY is a nonprofit community development financial institution (CDFI) that equips underinvested communities with the capital, strategy, and technical know-how to foster broad economic growth and opportunity. By strengthening both housing and commercial corridors, LISC NY works to ensure that neighbor hoods are places where residents and businesses can prosper. To date, this has resulted in the preservation and develop ment of more than 49,240 affordable homes and the creation of 2.9 million square feet of commercial space statewide.