During the first year of my administration, we have experienced over $3 billion in economic development activity throughout the city, with a significant portion of that activity occurring throughout the downtown core of Buffalo, an area outlined and documented in the award-winning Queen City Hub Plan. The plan presents the vision and key priorities for implementation of all aspects of development – particularly housing and economic development activities – and the plan protects the history of Buffalo and identifies strategic investment opportunities.
Downtown Buffalo is the fastest growing residential area in our region. Long dormant buildings and properties are now the focus of residential redevelopment. The former Statler Hotel has a new owner, who has unveiled an exciting $80 million residential and commercial development plan for the building. The former AM&A’s department
store building also has a new owner who has unveiled a workable plan and accompanying financing to make its redevelopment a reality and we have a significant commitment of $50 million from the Community Preservation Corp. to rebuild the 500 block of Main St. All of this activity comes in addition to several exciting new residential units opened this past year, including the IS Lofts and the Granite Works. This coming summer, Buffalo’s version of the Artspace Artists’ Lofts will open in the ever-growing Midtown section of the city.
For too long, Buffalo was seen as a shadow of its former self. Now, we are seeing industrial warehouses transformed into trendy lofts, an empty brownfield hosting a beautiful building, and the nondescript federal reserve building redone by New Era Cap Co. as a magnificent glass and metal structure. Yes, the landscape of downtown Buffalo is changing. But, we are also preserving our history, as outlined in the Queen City Hub plan. The BlueCross/BlueShield of Western New York project protected the historic façade of the former Buffalo Gasworks, the Guaranty Building has been restored to its original glory, the Granite Works, in the 800 block of Main St. restored burned out buildings to their original look, and the 1970s stucco façade at the Courtyard Mall property at 460 Main St. is now gone and the developers are returning the building’s original red brick.
On Buffalo’s waterfront, the redevelopment of the Inner Harbor is progressing on schedule, with the reopening of the historic Erie Canal’s Commercial Slip set for completion by late summer of 2007 and other related projects moving forward. With important and needed funding derived from the settlement of the Niagara Power Project’s 50-year relicensing agreement, we are finally seeing real progress on the waterfront. The Erie Canal Harbor Development Corp., a state supported development organization that is comprised of local private and public sector representatives, has laid out a comprehensive, mixed-use development plan and strategy to complement the historic redevelopment of the Erie Canal’s western terminus along the Inner Harbor.
During 2007, we will see more exciting projects coming to fruition in downtown Buffalo. The ribbon will be cut and over 1,500 new workers will inhabit the BlueCross/ BlueShield of Western New York’s Regional Headquarters, the Uniland Building at 285 Delaware Ave. (north of Chippewa St.) is fully leased and will open to tenants in 2007, and we will break ground on several new downtown housing projects as well. The redevelopment of the former federal Dulski Building is set to begin, phase 2 of the exterior rehabilitation of Buffalo City Hall will get under way, plus many more. We continue to receive calls of interested from developers and investors from the region, as well as from across the country and overseas.
This is truly an exciting time for the city of Buffalo, and downtown Buffalo is at the leading edge of the continuing transformation and revitalization of our great city. As mayor, it is my goal to continue building and rebuilding a better Buffalo for today and the future.
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