Buffalo Development News

[JSmith]

Steel, do you have some exciting "inside intel" or is spring just traditionally the "announcement season"?

[steel]

Originally Posted by JSmith

Steel, do you have some exciting "inside intel" or is spring just traditionally the "announcement season"?

Perhaps but there are many that need no intel

1.HSBC shoe should drop soon along with Phillips Lytel
2.The Casino should be announcing soon
3.There are many smaller restorations in the pipeline
4.We have Croce ready to move on 2 major projects
5.With UB 2020 getting most of what they want in Albany we should get some news from them soon.
6.Paladino promises some greystone news

[ECoastTransplant]

Originally Posted by homestar

Any news on these?

Pearl- playing phone tag with the lead on the project.

One of the Main Street projects is ready to go public in about a week. The second has been quiet but last I heard is kicking the tires about a purchase and re-do.

I'll have something about the Allentown project on BRO tomorrow.

[ExWNY'er]

The casino is actually moving forward? If they don't do soemthing then they should be shut down.

[sin|ill]

Originally Posted by ExWNY'er

The casino is actually moving forward? If they don't do soemthing then they should be shut down.

i believe they just hired an urban planner originally from buffalo but who had been working in seattle. he's supposed to be a whiz-kid, and re-work the plan to fit in a bit better with whatever happens in the cobblestone area.

http://www.buffalorising.com/2011/01...e-courted.html

[desertpunk]

Originally Posted by sin|ill

i believe they just hired an urban planner originally from buffalo but who had been working in seattle. he's supposed to be a whiz-kid, and re-work the plan to fit in a bit better with whatever happens in the cobblestone area.

http://www.buffalorising.com/2011/01...e-courted.html

That would be great! And they should finally remove that rusting pile of crap over there. Wouldn't a taller casino hotel with residences be nice? As a 'tribal property' I wonder what the tax obligations for buyers in such a development would be...

[homestar]

Seems like that could steal away from other non-sovereign businesses that are required to pay taxes, creating an un-level playing field. IMO I think the best scenario for the casino would be if they were only a casino/entertainment attraction and left the rest (residential, hotel, and offices) for regular businesses to provide.

I'm really happy to see them make an attempt to "fit in" with canalside and downtown though. Seems like a huge improvement in attitude from their original plans. We'll have to wait and see what they actually come up with though.

[fubo]

Originally Posted by ECoastTransplant

Pearl- playing phone tag with the lead on the project.

One of the Main Street projects is ready to go public in about a week. The second has been quiet but last I heard is kicking the tires about a purchase and re-do.

I'll have something about the Allentown project on BRO tomorrow.

What he said but why wait for tomorrows regurgitaion of the real newspapers articles. Here it is:




Law firm will move to Main St. building
Business First - by James Fink
Date: Thursday, March 10, 2011, 2:43pm EST


A prominent Buffalo law firm has acquired a downtown Buffalo building and plans to move its offices into the structure.

Ricotta & Visco, through its Valledolmo LLC affiliate, has purchased a four-story, century-old, 11,000-square-foot building at 496 Main St. from local businessman Kent Keating. Ricotta & Visco will be moving its offices from the Main Place Tower once renovations are completed later this year. The renovation price tag is expected to be around $1.5 million.

Valledolmo paid $385,000 for the building, according to documents filed in the Erie County Clerk’s office.

Ricotta & Visco’s deal comes at a time when the 500 block of Main Street is seeing a new wave of development and projects. Just across the street, restaurateur Don Warfe converted the former Stewart & Benson building into his private residence while using the first floor for a new Brodo outlet that’s expected to open this year.

Roger Trettel has renovated a series of century-old buildings into the Cornucopia project that will bring in a mix of small retailers and offices. The Cornucopia project was completed earlier this winter.

In addition, the Hyatt Regency Buffalo has recently completed a nearly $16 million renovation.

“The 500 block is get starting to get attention from developers,” said Michael Schmand, Buffalo Place Inc. executive director. “That bodes well for the rest of the central business district. It seems like everyday we are seeing new levels of investment taking place along that block.”

The building has sat empty for the past few years, save for a Chinese restaurant that operated on its first floor until 2009.

The law firm is expected to add three new employees if it moves into the building. The firm, which specializes in medical malpractice defense and other forms of complex litigation has 13 employees.

Keating, who founded Kanoodle - now known as Seevast Corp., bought the building in 2007 with the intentions of moving his family into its upper floors while leasing out the first floor to a retailer or restaurant.

Keating dropped those plans in late 2008 and retained Alan Hastings from Hastings Cohn Real Estate to market the building. Hastings said several parties looked at the building before Ricotta & Visco emerged as the potential buyer.

Carmina Wood & Morris has been retained to handle the architectural work.
..

Read more: Law firm will move to Main St. building | Business First

[homestar]

Originally Posted by ECoastTransplant

I'll have something about the Allentown project on BRO tomorrow.

Originally Posted by fubo

What he said but why wait for tomorrows regurgitaion of the real newspapers articles. Here it is:


Law firm will move to Main St. building

Ricotta & Visco, through its Valledolmo LLC affiliate, has purchased a four-story, century-old, 11,000-square-foot building at 496 Main St. from local businessman Kent Keating.

496 Main St. isn't in Allentown... So I'll still look forward to ECT's post on BRO tomorrow.

[fubo]

Sorry I was referring to his paragraph about next weeks main street project.I fogot the blog is a week behind the legit papers . But its a swell site to get Buffalo pics for screensavers

[desertpunk]

Originally Posted by homestar

Seems like that could steal away from other non-sovereign businesses that are required to pay taxes, creating an un-level playing field. IMO I think the best scenario for the casino would be if they were only a casino/entertainment attraction and left the rest (residential, hotel, and offices) for regular businesses to provide.

I'm really happy to see them make an attempt to "fit in" with canalside and downtown though. Seems like a huge improvement in attitude from their original plans. We'll have to wait and see what they actually come up with though.

I'm just wondering how many people might consider a move back into the city if they had just such a tax-saving arrangement. People who might otherwise never move into Buffalo. It's not a big site so the city wouldn't be out much tax revenue from residents of such a scheme and they would infuse the city with gross receipts. If the tribe eschewed a hotel altogether, that might also be a good outcome, to allow for more off-site development.

[steel]

Originally Posted by homestar

496 Main St. isn't in Allentown... So I'll still look forward to ECT's post on BRO tomorrow.

I think WCP wrote about the law firm a few weeks ago

[homestar]

Originally Posted by steel

I think WCP wrote about the law firm a few weeks ago

December 6, 2010! That's was 3 months earlier than the Business Week article.


http://www.buffalorising.com/2010/12...-property.html

[fubo]

FWIW Census numbers out today showed Pittsburgh with a 9% drop in pop since 2000 to 305,000 about the same as Chicago. NY States numbers come out the week after next.

[sin|ill]

not to pile on, but- yeah, i heard it from wcp first.
first.

[ECoastTransplant]

Allentown church project- Ellicott Development has this under contract. This is the New Life Assembly of God at N. Pearl and North Street. Bill Paladino says their plans are for residential reuse, no details yet on timing or number of units.



http://www.buffalorising.com/2011/03...sidential.html

As for Our Lady of Lourdes on Main- he says they are planning a large addition to the church there- it will be saved. He would not say what use or uses they intend for that property but will be able to talk in 60 days or so.

And, the former Bryant and Stratton buildings on Main at North- all fully leased by Kaleida.

I have a laundry list of projects I want to get updates on from Ellicott- including plans for new residential where Allentown Athletix is next to Bellasara- I'll be doing that over the next few weeks. A couple of the BRO contributors will be going thru Baker Shoes soon- watch for photos. They're putting on new roof there now plus framing apartments.

On the Main/Mohawk project- Biz First had that story first. There were whispers that it was under contract but I couldn't chase down who was buying it. It daylighted when they applied to the ECIDA for financing- Fink got it and ran it.

[steel]

Originally Posted by ECoastTransplant

Allentown church project- Ellicott Development has this under contract. This is the New Life Assembly of God at N. Pearl and North Street. Bill Paladino says their plans are for residential reuse, no details yet on timing or number of units.



http://www.buffalorising.com/2011/03...sidential.html



.

Ugh!! ! !

[ECoastTransplant]

Originally Posted by steel

Ugh!! ! !

Whatyamean?

[fubo]

Originally Posted by steel

Ugh!! ! !

ugh

[Ishamael]

I think he's hoping the project actually gets done this time.