What exactly is a tech hub?

Let’s start with the basics.  A tech hub is a community that promotes innovation for technology-based companies.  The collection of like-minded individuals working in various business sectors but focused on the use of technology creates a unique environment where individuals, ideas and the companies that support both can thrive.  A tech hub can cover a large geographic area – you may be familiar with the Silicon Valley in California, but just as often, tech hubs are found in single buildings or clusters of buildings as is the case here in Buffalo, NY with Seneca One.  Tech hubs like Seneca One are unique in that they offer the same benefits of geographically dispersed hubs but condense the activity, which increases the potential for meetings, collaborations, and general camaraderie among tech-minded employees.

How did it start? While Buffalo, NY may not have a reputation as a tech hub city (yet!), there are core areas of our city that are home to buildings or collections of buildings that intentionally attract tech talent.  In the case of Seneca One, the introduction of the newly created technology division of M&T Bank as the anchor tenant of the project has helped to attract other tech-focused and entrepreneurial businesses.  M&T Bank, under the leadership of tech industry icon Michael Wisler, realized from the onset that choosing Seneca One was an important step on the pathway to success.  The very tangible ability to attract the best of the best in terms of tech industry minds, working in close proximity to others facing the same challenges in their work, and building community has proven to produce exciting results.  This notion continues to drive interest in the project both regionally and nationally.  Of course, first-class amenities, a mix of apartments and office, unique community events, proximity to transit, the promise of exciting retail outlets, and the massive scale of the overall redevelopment doesn’t hurt.  Sensing the excitement, a host of new tenants signed on immediately following M&T Bank’s tech division.  Most notably, 43North, an organization that works to attract and retain high-growth startups in Buffalo through an annual $5M startup competition, relocated to office space at Seneca One, ensuring they were at the epicenter of this emerging community.

Where do we go from here?  The best answer is, up.  The future for tech hubs in secondary markets like Buffalo, NY is promising.  The pandemic is increasing the pace of a trend that sees the largest tech companies considering their options.  We’re not just talking about square footage or at-home workforces here.  What’s really at the heart of the issue is the fact that these are companies that thrive on the community they create; the very fabric of tech hubs is the benefit of creating these communities.  The young, diverse, and talented workforce found in Buffalo has been recognized by the tech industry and they are responding with real excitement to the companies that call Seneca One home.  A fulfilling career, a sense of community, and  the ability to maintain roots in the city they call home is very powerful and a real asset to companies looking at relocating to the region.  It is also the backbone of tech growth when you consider the constant exposure to ideas, investors and thought leaders that comes with the hub concept and the community it creates.  Aside from these obvious benefits, beyond the walls of their offices they’re driven to understand living costs, access to transportation, cultural connections, and more which support their workforce.  It’s clear that Buffalo, NY is a natural fit on all of these fronts, with Seneca One serving as ambassador to the thriving tech world.

Here’s what you need to know.  Occupying over 1.4 million square feet in downtown Buffalo, Seneca One is poised to play a major role in reestablishing our community as a thriving waterfront city and deserving destination. Our remarkable footprint includes restaurants, retailers, residences, and businesses – all paired with an unmatched view and buzzing atmosphere. With over 100 apartments at the base of the building, thousands of people working in the tower, eateries that serve into the evening, and a diverse workforce of more than 2,000 people working together to establish our region as a destination for entrepreneurs, innovation, talent, and investments, Seneca One is buzzing 24/7.  Other highlights include column-free floor plates, incredible 360-degree views with natural lighting, destination elevators, and fully landscaped outdoor areas.  Key tenants include M&T Bank tech group, Odoo, Lighthouse Technology, 43North, and Serendipity Labs.

For more information or to tour Seneca One, please contact Kyle Ciminelli, Executive Managing Director at Newmark Ciminelli at 716 631 8000.