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Halovet
Mar 18, 2008, 9:28 AM
I like the new design too. Does the spire push this thing into the 650-700' range?


Has anyone fortotten that this project has it's own thread?
http://forum.skyscraperpage.com/showthread.php?t=118708
I'ts great here, but if someone went through the trouble to create it, why not?

Has anyone fortotten that this project has it's own thread?
http://forum.skyscraperpage.com/showthread.php?t=118708 :shrug:

Downtown Bolivar
Mar 18, 2008, 2:56 PM
^^^There really isn't enough conversation to justify spreading this over 2 threads. When more solid news is announced or when prep begins and photos start showing up, then we'll need another thread. Same for the Gates Circle condos.

BANKofMANHATTAN
Mar 18, 2008, 4:31 PM
I like the updated design as well. It looks nice with the spire.

chevy064
Mar 19, 2008, 7:58 PM
The spire makes no sense to me.

Wasn't the top floors supposed to be condos? That spire would just block the wide open waterfront views of the upper floors.


Plus - it looks like an afterthought.


That just my opinion. Spire or not - I just hope this thing gets built.

STERNyc
Mar 19, 2008, 9:43 PM
I like the spire.

As for as the views, they can but the units bathrooms where the spire is.

westcoastperspective
Mar 20, 2008, 2:24 AM
Here's a little something-something.

I know someone who contacted BSC to inquire about space. He was told they are talking to a firm that would take "30-40 percent of the office space" and a "big name hotel operator." They expect to have answers on these before the end of the year. If they are a go, "they will go to construction in the spring of 2009."

Read what you want into it- but I'm pulling out the rosary beads.

bloburgher
Mar 20, 2008, 12:55 PM
Anyone have an update on the courthouse? That part of Delaware Ave is really looking good lately.

FireMedic
Mar 20, 2008, 1:53 PM
Erie County’s estimated population dropped 0.54 percent last year to 913,338 residents
By Stephen T. Watson
Updated: 03/20/08 6:45 AM

Shrinking population

Erie County lost 5,001 residents last year, continuing a decade-long trend of annual population losses seen here and across upstate New York, according to new population estimates from the U.S. Census Bureau.

However, at least one expert cautioned that the declines reported for Erie and Niagara counties shouldn’t be taken too seriously because bureau estimates have proved to be inaccurate in the past.

“People need to bear in mind that these are estimates built upon estimates,” said Kathryn A. Foster, director of the Regional Institute at the University at Buffalo.

Still, the figures released Wednesday by the Census Bureau are the latest signs that upstate New York communities haven’t been able to stanch their population declines.

Upstate’s largest counties — Erie, Monroe, Onondaga and Albany — all lost residents over the previous year, and only Albany County has seen a net population gain since 2000.

“There are no real surprises. It’s the continuation of a trend. For the most part, downstate is showing the increases. Maybe a little around Albany,” Foster said Wednesday.

The new Census Bureau data shows Erie County lost 0.54 percent of its population in the 12 months between July 2006 and July 2007 and Niagara County’s population essentially remained flat over that time, falling 0.08 percent.

Since April 2000, Erie County’s population has fallen by 3.9 percent, from 950,265 to 913,338, and no county in New York State lost more people over those seven years than the 36,927 who left Erie County, according to Census figures.

Niagara County lost 165 people between 2006 and 2007, when its population fell to 214,845, and a total of 4,999 people since 2000, the census estimates.

Those figures are in line with the population losses for other counties in Western New York and across upstate New York.

All eight of the counties of Western New York lost population between 2006 and 2007 and show overall population losses of between 0.6 percent and 4.2 percent since 2000, the data shows.

Cattaraugus County, in fact, at a 0.62 percent decline, had the highest population loss between 2006 and 2007, by percentage, of any county in the state.

The annually updated estimates are based on birth and death records and migration patterns that are tracked through address changes on federal tax returns.

Foster noted, however, that the yearly estimates can often undercount population.

In 2000, for example, the more-accurate, once-a-decade census count found that previous yearly estimates had under-counted Erie County’s population by about 25,000 people, she said.

No matter how the final numbers come out in 2010, it’s clear that downstate’s population is holding steady or rising while upstate’s is slowly declining.

Orange County in the Hudson Valley has been the fastest growing county in the state since 2000 and remained so last year with a growth rate of 0.8 percent.

Neighboring Sullivan County was No. 2 with a 0.7 percent growth rate over the year.

The mid-Hudson Valley experienced a population boom over much of the decade, fueled in part by post-Sept. 11 jitters in New York City and sky-high home prices closer to the city.

New York City grew by 0.29 percent over the year.

Overall, the state’s population nudged up by 15,741 in the 12 months ending in July 2007, to 19.3 million people.

The census figures show that the population drain from the Northeast and the Midwest to the South and West is continuing.

While some counties in the Southwest experienced dramatic change over the year — growth rates were as high as 8 percent in Texas — no county in New York saw a percentage gain or loss of more than 1 percent.

This is important, Foster said, because if the state’s slower-than-average population growth is captured in the 2010 Census, New York could lose out to boom states on financial aid and congressional representation.

The Associated Press contributed to this report.

chevy064
Mar 20, 2008, 2:14 PM
Thank you for that breath of fresh air Medic.:rolleyes:

Downtown Bolivar
Mar 20, 2008, 2:58 PM
^^^Can't believe that someone so interested in the area's demise would be caught dead reading the Buffalo News. There's more here than you let on Firemedic.

sullymon54
Mar 20, 2008, 5:40 PM
if you're so interested in these type of stories why don't you move to dubai so you can wake up every morning with a smile on your face knowing that where you live is getting more people to live there. Unless you're the mayor of cheektowaga why do you dwell on these things?

Halovet
Mar 20, 2008, 6:37 PM
Clearly Medic knows he can piss u guyz off easily, so he does. As long as u respond, he'll have at it. He don't bother me one bit.:cool:

westcoastperspective
Mar 21, 2008, 12:42 PM
From Biz First:

http://img245.imageshack.us/img245/4204/qclandingwr0.png

http://img512.imageshack.us/img512/9224/lfcommonsus1.png

Downtown Bolivar
Mar 21, 2008, 4:49 PM
The Freezer Queen site is fairly isolated. It's going to make the waterfront look like a real patchwork. Hopefully it will generate infill between this site and downtown, especially since Nemo's development fills in the last peice of waterfront village. And hey is it just me or is light rail or modern trolley along existing ROW and some abandoned ROW a no brainer between downtown and Freezer Queen along the out harbor?

Wigs
Mar 23, 2008, 10:23 PM
new Waterfront Place pictures:

http://allthingsbuffalo.wnymedia.net/blogs/2008/03/22/waterfront-place-32208/

http://img530.imageshack.us/img530/8011/waterfrontplace1zu6.jpg

Halovet
Mar 24, 2008, 6:09 AM
new Waterfront Place pictures:

http://allthingsbuffalo.wnymedia.net/blogs/2008/03/22/waterfront-place-32208/

http://img530.imageshack.us/img530/8011/waterfrontplace1zu6.jpg
Is this having any impact what so ever on the skyline, or is that just wishful thing on my part?:shrug:

BUFFALOVE!!
Mar 24, 2008, 11:49 AM
i'm pretty excited that the buffalo city tower project now has a website. i'll count that as a small step foward in my book

BUFFALOVE!!
Mar 24, 2008, 11:49 AM
i'm pretty excited that the buffalo city tower project now has a website. i'll count that as a small step foward in my book

BUFFALOVE!!
Mar 24, 2008, 11:49 AM
i'm pretty excited that the buffalo city tower project now has a website. i'll count that as a small step foward in my book

westcoastperspective
Mar 24, 2008, 1:19 PM
Is this having any impact what so ever on the skyline, or is that just wishful thing on my part?:shrug:


Yes- found this on Flickr:

http://img291.imageshack.us/img291/7292/230836404544659633debnn4.jpg

believeinbflo
Mar 24, 2008, 4:20 PM
channel 4 is gonna have to update their background...but i'm thinking they won't.

westcoastperspective
Mar 25, 2008, 4:32 AM
Can Buffalo please get at least one mid-rise residential building like this done? Please?

http://img530.imageshack.us/img530/9407/the20sterling20drawingum3.jpg

sullymon54
Mar 25, 2008, 12:20 PM
WCP where is that from and we kinda had something like it with the elmwood hotel but we all know how well that worked out.

sullymon54
Mar 25, 2008, 12:21 PM
Cities grapple with surge in abandoned homes

By Jason SzepMon Mar 24, 11:00 PM ET

On Lagrange Street in New England's second-largest city, two brick apartment buildings stand side-by-side in varying stages of decay -- boarded up, "No Trespassing" signs affixed, paint peeling.

Across the street, a condominium complex is on the brink. Three of its eight apartments are in foreclosure.

Like many cities in the United States where the home vacancy rate has scaled its highest since records began in 1956, the former textile mill city of Worcester in Massachusetts is turning to the courts to fight back.

Their target: banks who abandon properties and who leave behind a glut of empty, dilapidated houses that draw crime, cut tax revenue and depress nearby property values in a market already in a tailspin.

"This is the trenches here. We've got to stabilize our community," said Worcester city manager Michael O'Brien in a sidewalk interview outside the foreclosed condominiums on the quiet street in a Hispanic neighborhood.

The city of 175,898 people, a munitions depot during the U.S. Revolutionary War, offers a window into how U.S. cities are grappling with a wave of foreclosures that has pushed the U.S. homeowner vacancy rate to a record 2.8 percent in the fourth quarter of 2007 -- or about 1 million homes.

Like many U.S. mayors and city officials, O'Brien blames "predatory" lending practices prevalent in the U.S. property boom for the lion's share of about 4,220 mortgages in his city that are either in, or at risk of, foreclosure.

In February, he began asking judges to assign property managers to buildings at the expense of the mortgage companies. The idea is to stop tenants from being abruptly tossed out of a foreclosed home and to provide enough basic maintenance to keep it from getting condemned.

Other cities are pursuing even more radical measures.

LAWSUITS

In western New York, the city of Buffalo filed a lawsuit on February 21 against 36 lenders -- including big names like JPMorgan Chase & Co Inc and Countrywide Financial Corp -- who were involved in 57 foreclosures that led to properties being abandoned and ultimately demolished by authorities.

The struggling Rust Belt city, plagued by about 10,000 vacant homes and commercial buildings, estimated the 57 foreclosures cost Buffalo $1 million in demolition work and another $1 million in nuisance costs -- from police patrols to boarding up buildings, to the social toll on communities.

"We have found homicide victims in these structures," Buffalo Mayor Byron Brown said in a telephone interview.

"Dog fighting has taken place in these structures. Drug dealing has been conducted. Last year one of our fire fighters was critically injured, losing one of his legs from the knee down, fighting a fire at a vacant structure," he said.

Alisa Lukasiewicz, who runs the city's law department, said Buffalo drew inspiration from similar lawsuits in Cleveland and Baltimore. "These properties are in a state of legal limbo," she said. "Banks walk away. The homeowners are gone, and the property is still there."

The city also launched "Bank Day" in a housing courtroom to consolidate cases against lenders into one afternoon each month. About 50 cases are pending, mostly against creditors accused of housing code violations -- from trash-strewn lawns to chipped paint and collapsing ceilings.

In some cases, mortgage companies threaten foreclosure if borrowers fall behind in loan payments but never go through with it, leaving the borrower technically the property's owner and complicating efforts to revive an abandoned home.

"Another big problem we have had is this new wave of lending," said Cindy Cooper, a Buffalo city prosecutor who specializes in housing. "It's difficult to work out who holds the note, who is in control of a property. These mortgages have been packaged into portfolios and sold on Wall Street."

HOMES FOR A $1 EACH

Further east, Syracuse, New York, began selling vacant homes last year for $1 each to non-profit groups who promise to tear them down or renovate them. Last month, Syracuse Mayor Matthew Driscoll extended the deal to private companies.

The aim is to get abandoned homes back on the market in one to two years and back on the tax rolls.

"The foreclosure crunch has now meant that no neighborhood is exempt from having a vacant property pop up," said Kerry Quaglia, executive director of Home Headquarters, a non-profit that demolished about 100 homes and renovated 40 last year.

Some cities such as Cleveland are developing land banks to buy and either demolish or repair distressed properties.

"Because of the foreclosure crisis we are seeing this incredible glut of inexpensive distressed houses being sold at pennies on the dollar," Cleveland city councilman Tony Brancatelli said in a telephone interview.

"The mortgage companies don't want to hold onto them so they are dumping them on the Internet at a rapid rate. People are buying them 15 to a 100 at a time," he added. "One of the most significant parts of the land bank is stopping this cycle of abandonment."

Rhode Island, the nation's smallest state, is planning to fine homeowners 10 percent of a building's value if it remains empty a year after receiving a warning from the city, giving creditors incentive to unload vacant buildings even at a loss rather than to keep them and pay the tax.

David Cicilline, the mayor of Providence, Rhode Island, said the reasoning was simple: "When you have people living next to a house that is boarded up and vacant, it becomes a blight on that neighborhood."

(Reporting by Jason Szep; Editing by Eddie Evans)

westcoastperspective
Mar 25, 2008, 1:39 PM
WCP where is that from and we kinda had something like it with the elmwood hotel but we all know how well that worked out.

San Fran

Downtown Bolivar
Mar 25, 2008, 3:12 PM
WCP--You know that if you post something like that midrise on BRO, people will come out of the woodwork to call it tacky, tasteless, a poor design, stripmallish, suburban, you name it. One way you can tell that new urban design has passed Buffalo by is by the way Buffalo people react to it. Just look at the idiotic things people have said about the waterfront village townhomes proposal. Sometimes the people of Buffalo get what they deserve--nothing!

Austinlee
Mar 25, 2008, 4:03 PM
Can Buffalo please get at least one mid-rise residential building like this done? Please?

http://img530.imageshack.us/img530/9407/the20sterling20drawingum3.jpg

I love that design. That is the type of development you would see in Seattle or Chicago or LA even. modern infill.

I think some modern infill is needed for the older cities such as Buffalo and Pittsburgh.

westcoastperspective
Mar 25, 2008, 6:45 PM
WCP--You know that if you post something like that midrise on BRO, people will come out of the woodwork to call it tacky, tasteless, a poor design, stripmallish, suburban, you name it. One way you can tell that new urban design has passed Buffalo by is by the way Buffalo people react to it. Just look at the idiotic things people have said about the waterfront village townhomes proposal. Sometimes the people of Buffalo get what they deserve--nothing!

Don't get me started on that townhome thread. These are the same people that skewered Frizlen for the Utica condo design. What do they find acceptable? Would anyone with eyes really think they were public housing? Or suburban? I heard from someone involved with the project that the existing Lakefront Commons neighbors wanted the developer to build replica units because they feared their values would decline!!!!! :koko:

Putting on my Sim City hat, I think mid-rise residential like in that rendering would be great for Huron Street from Delaware to Pearl with something taller at the southeast corner of Huron and Delaware and the southwest corner of Pearl and Huron, on part of the Convention Center ramp site.

Another good site- the gas station at Chippewa and S. Elmwood across from the Hampton Inn. Or how about the lot at Chippewa/Pearl across from Prima Pizza. Oh heck- ANY DOWNTOWN LOT!

steel
Mar 25, 2008, 7:34 PM
I love that design. That is the type of development you would see in Seattle or Chicago or LA even. modern infill.

I think some modern infill is needed for the older cities such as Buffalo and Pittsburgh.

Actually,

You would not see this in Chicago (in general) In Chicago you would have to put a big dead block of parking on at least the first five floors.



I also don't agree that people in Buffalo would be against this. There is too much emphasis put on the opinions of a vocal few and ascribing their opinions to the city as a whole. Buffalo's real problem with development is a state and county government system which stagnates industry and investment.

Halovet
Mar 26, 2008, 6:41 AM
Actually,

You would not see this in Chicago (in general) In Chicago you would have to put a big dead block of parking on at least the first five floors.



I also don't agree that people in Buffalo would be against this. There is too much emphasis put on the opinions of a vocal few and ascribing their opinions to the city as a whole. Buffalo's real problem with development is a state and county government system which stagnates industry and investment.

Buffalo needs one Government. County-City. Yeah, I know, cuss words. there! I said it! It's true. TAKE THAT!:eviltongue:

Doozine
Mar 26, 2008, 7:11 AM
Ok Im sorry ... but go to the west loop, the south loop or river north (or really any other neighborhood around the loop) and tell me again that there aren't any buildings like this. Granted they might not have the exact same design, they look strikingly similar.

I do however agree with you on one point. Just because there may be some nimbys and other naysayers taking pot shots at any and every design and/or idea thrown at them, that shouldn't automatically be taken as the view of the entire city. That whole "my font is bigger and better than your font" thing is unnecessary and irritating.

Any type of development that happens in Buffalo is a good thing.

steel
Mar 27, 2008, 3:55 AM
They are more likely than not to be plopped on top of a giant dead parking structure.

westcoastperspective
Mar 27, 2008, 1:10 PM
http://img237.imageshack.us/img237/9963/gennyblock10gt8.jpg

A few new details on the Genny block rehab:


Genesee Gateway LLC, a consortium led by Buffalo’s City View development, is moving ahead with a $10 million plan to convert the cluster of red brick facades to 60,000-square-feet of commercial space.

“They will function as a single building, with a central entry point, and common elevators and building systems,” said Doug Swift, a principal with City View Construction Management, the lead partner in the project.

“This summer, we should see some real progress in getting rid of the eyesore and changing that perception,” Swift said.

Construction plans for the high-profile site will be complete in the next two months and will include restoring numerous exterior architectural details to the buildings, including a mansard roof to the structure at the corner of Genesee and Oak streets.

Unification of the group of small buildings, from 99 to 123 Genesee St., will involve construction of a new “modern-style” building, filling a vacant lot in the middle of the cluster. Swift said the idea will be to complement the existing historic buildings, rather than mimic them.

The redone buildings are expected to house a destination restaurant, offices and possibly a boutique hotel, but residences are not part of the plan. Although no tenants have signed onto the project, an out-of-town restaurant operator has expressed initial interest.

The Gateway group is also tackling a dilapidated structure and cleared triangular- shaped lot at the corner of Genesee and Ellicott streets. Swift said it’s likely the “pointy” parcel at 85 Genesee St. will be revived as green space, but the development team will attempt to restore the adjoining structure which is currently roofless and missing a portion of its rear wall.

http://www.buffalonews.com/145/story/308861.html

impressingagent
Mar 28, 2008, 3:26 AM
i have had dreams where this was the successful element towards revitalization.

“They will function as a single building, with a central entry point, and common elevators and building systems,” said Doug Swift, a principal with City View Construction Management, the lead partner in the project.

this project should do great things towards restoring confidence in buffalo's charm.

Halovet
Mar 28, 2008, 6:26 AM
New plans for Outer Harbor Parkway include fishing piers and bike path



By John F. Bonfatti NEWS STAFF REPORTER
Updated: 03/27/08 7:45 AM


http://media.buffalonews.com/smedia/2008/03/27/08/590-walk_Times_Beach_Proposal.standalone.prod_affiliate.50.jpg
The walk/bike path next to the parkway.

http://media.buffalonews.com/smedia/2008/03/27/08/747-Multi-Use_Path.standalone.prod_affiliate.50.jpg
Sketch of the enhanced multi-use path.


Rep. Brian Higgins and Mayor Byron W. Brown detailed a new plan Wednesday for the long-discussed Outer Harbor Parkway, calling it the first step in removing the Skyway.

As the mayor and the congressman were describing a newer, greener parkway project, opponents, who have sued to stop the project, brought Canadian experts to town to help argue against retaining a key component of the plan — the elevated section of Route 5 along the waterfront.

Two of the opponents on the Common Council, President David A. Franczyk and President Pro Tempore Michael P. Kearns, said the new plan is a step in the right direction — but too small a step.

“As long as that elevated highway is still in place, it’s going to be an impediment to any kind of development,” said Kearns, whose South District includes a stretch of the shoreline.

The elevated highway carries four high-speed lanes of Route 5 traffic between the Southtowns and the Skyway.

It remains in the revised plan, although state Department of Transportation officials said its elevation — 20 feet above grade at points — would be cut in half in some places.

Higgins, pointing to construction work already under way at the Small Boat Harbor entrance off Fuhrmann Boulevard, insisted the $55 million project is going forward.

“As you can see today, we’re not fooling around,” said Higgins, adding that the project is fully funded and should be completed by the fall of 2010.

Brown called the new plan “another very powerful example of progress on Buffalo’s waterfront” and said that after 50 years of waterfront talk and planning, “now we’re seeing action.”

The revised plan makes several changes from the one the DOT presented last October, changes that Higgins, Brown and State DOT Commissioner Astrid C. Glynn said came following considerable input from a committee of local landscape experts and community leaders.

Higgins said he was “somewhat disappointed” with the October plan because of an overemphasis on “asphalt and concrete.”

The new plan adds more landscaping and will incorporate native vegetation along the bike/walk path that will roughly parallel the approximately 3x-mile-long parkway.

It also adds additional fishing piers at the Union Ship Canal and at Tifft Street and new trail head parking south of the Times Beach Nature Preserve, which would have direct access to the parkway via a bridge under Route 5.

Under both the old and new plan, Fuhrmann — now split into northbound and southbound roadbeds on either side of the elevated section of Route 5 — would be consolidated into one roadbed, separated by a tree-lined median, on the east side of Route 5.

But traffic engineers said the footprint for the new Fuhrmann, which will become the parkway, was reduced from 50 feet to 46 feet wide.

A new interpretative area, highlighting its industrial history with pavement stones and other design elements, will run north-south along the railroad track that crosses the existing southbound lane of Fuhrmann.

Higgins said the changes will add $5 million to $7 million to the project. He said the money for those changes is also in place, in part because the project came in under bid.

The project must go forward, or the funding will be jeopardized, said Higgins, who added that additional funding to build an at-grade bridge connecting the new parkway to downtown Buffalo will hinge on showing progress on this project.

Higgins said $2 million has already been allocated toward the environmental impact statement needed to build that bridge, the first of perhaps three at-grade crossings he would like to see.

A member of a coalition that is challenging the project in court said that fight will continue. Julie Barrett O’Neill, executive director of Buffalo Niagara Riverkeeper, said the revised blueprints do little to address opponents’ major objection.

“This only puts lipstick on what is still going to be two separate highways along the waterfront,“ she said.

Buffalo’s struggle to improve public access to its waterfront is similar to the challenges Toronto has faced. The similarities were highlighted Wednesday as a team of urban planners and architects from Ontario trekked to Buffalo to meet with city lawmakers.

Toronto recently dismantled part of the Gardiner East Expressway, a road some view as a barrier to Lake Ontario.

John van Nostrand, an architect who has worked on numerous development projects in Toronto, said municipalities like Buffalo with obstructed waterfronts must find ways to make them more accessible.

“There are barriers, and Route 5 is one of them,” he said.

News Staff Reporter Brian Meyer contributed to this report.

jbonfatti@buffnews.com

http://www.buffalonews.com/home/story/308763.html

westcoastperspective
Mar 28, 2008, 12:33 PM
One of the worst kept secrets in Buffalo is out:


Is Wyndham coming to Statler?Business First of Buffalo
by James Fink Business First

Wyndham Hotels and Resorts could end up being the anchor tenant in the oft-discussed, multimillion-dollar renovation of the historic Statler Towers in downtown Buffalo.

The Wyndham brand name has been rumored, since early last year, to be the franchise hotel that will occupy 11 stories in the Delaware Avenue landmark, beginning on the seventh floor of the 18-story structure. The street buzz has Wyndham building out a combination of traditional, upscale hotel rooms with larger units geared to extended-stay guests.

If built, Wyndham would be the second major hotel chain to bring an operation to Delaware Avenue in downtown Buffalo.

Last year, Uniland Development Co. announced plans to bring a 150-room Embassy Suites to the 200 Delaware Building when it opens next year. That's the site of the former Dulski federal offices.

http://buffalo.bizjournals.com/buffalo/stories/2008/03/24/daily39.html?t=printable

Downtown Bolivar
Mar 28, 2008, 1:11 PM
^^^I find this extremely comforting after the wave of bad news and rumors about Issa. What's the status of the parking structure he's supposed to build behind it?

impressingagent
Mar 29, 2008, 3:27 AM
http://www.glasssteelandstone.com/Images/CI/CI-EasterIslandHeads-004.jpg
I thought of a cool art project, put one of these on the empty lot at for the buffalo city tower.

westcoastperspective
Mar 30, 2008, 12:09 AM
News coming soon on the Statler renovation project. Don't book a room just yet. :rolleyes:

buffaLOVE
Mar 30, 2008, 7:51 AM
Any word on how the Waterfront Place tower is filling up an the plan for a second tower?

westcoastperspective
Mar 30, 2008, 1:32 PM
The story on Issa's financial problem at the Statler:

http://www.buffalonews.com/cityregion/story/311138.html


No recent news on Waterfront Place- their townhome model unit is opening, or has opened. One of the locals should go snoop and count the number of units listed as sold. ;)

Doozine
Mar 31, 2008, 7:46 AM
re-god-damn-diculous! I say lets raise the money ourselves. Ive got 20 bucks... Thats almost half way there! I really like that he's making an effort, but its starting to look like he can't cut the mustard ... or clear the custard for that matter. And what does this say about the Buffalo City Tower project? How will he fund that? Ut oh ... I think my left arm is tingling. I mean really ... this guy's like the '91 Bills of real estate.

Halovet
Mar 31, 2008, 8:38 AM
re-god-damn-diculous! I say lets raise the money ourselves. Ive got 20 bucks... Thats almost half way there! I really like that he's making an effort, but its starting to look like he can't cut the mustard ... or clear the custard for that matter. And what does this say about the Buffalo City Tower project? How will he fund that? Ut oh ... I think my left arm is tingling. I mean really ... this guy's like the '91 Bills of real estate.


At this point, he's starting to look like the forth Rigas (if you remember Adelphia tower) The last thing Buffalo needed was another phony riding into town with illusions of grandeur. Truth is, there were plenty that warned us, but we has to give him a chance. He hasn't officially blown it yet, but man, is he blowin it?! I hope something comes along and saves the day, but given his apparent track record, and Buffalo's hard luck?....Man, this is F#@ked!:hell:

westcoastperspective
Mar 31, 2008, 3:20 PM
Maybe it is a bizarre and foolish attempt to get around the union wage issue? :koko:

believeinbflo
Mar 31, 2008, 4:50 PM
why doesnt he just apply for historic tax credits?

believeinbflo
Mar 31, 2008, 10:12 PM
according to ch2...issa is applying for tax credits...he says work will be delayed 90-120 days and that there is a 90% chance that the wyndham is indeed coming to the statler.

http://www.wgrz.com/news/news_article.aspx?storyid=56759

westcoastperspective
Apr 1, 2008, 12:32 AM
Curious that he's going for preservation tax credits now- the market is substantially weaker than it was a year ago. Rocco's Century City Lofts project is on 'hold' because he can't get a good return on the tax credit market. Fingers crossed Issa can do better.

I heard that Wyndham has serious concerns about the renovation plans- they weren't up to snuff. Issa was putting non-period fixtures into the rooms (buying cheap from overseas) and Wyndham wanted the renovation to stay true to the history of the property.

Austinlee
Apr 1, 2008, 1:14 AM
re-god-damn-diculous! I say lets raise the money ourselves. Ive got 20 bucks...

I'll throw in three fitty.

I really like that he's making an effort, but its starting to look like he can't cut the mustard ... or clear the custard for that matter.

You're right. All he's doin is cutting the cheese.

Downtown Bolivar
Apr 1, 2008, 1:52 AM
I think he's probably just new to the way things work over here. He was green going into developments in Manchester which finally got off the ground after delays and now he's got the same problem here in Buffalo. At this point, why not keep a positive outlook about things?

Doozine
Apr 1, 2008, 7:21 AM
I think he's probably just new to the way things work over here. He was green going into developments in Manchester which finally got off the ground after delays and now he's got the same problem here in Buffalo. At this point, why not keep a positive outlook about things?


You are absolutely correct. I think he is really just hitting a few speed bumps. I mean why would he sink so much money into the Statler, then just walk away. There is no way he will be able to get around the unions, and Im not sure how many tax credits he would receive, but I'm sure it wouldn't exactly be that of the Jebel Ali Free Zone.

As far as Issa being the fourth Rigas ... well ... we'll have to wait and see if some assets and liabilities go unmentioned on BSC's balance sheets. For now I am more questioning of Issa's business dealings than I am of Tom Cruise's heterosexuality. :shrug:

westcoastperspective
Apr 1, 2008, 1:41 PM
Someone on the Manchester Sarah Tower thread said a crane will soon be on the site of that project- so he is moving on things elsewhere, albeit slowly.

Doozine
Apr 2, 2008, 10:23 PM
Does anyone know why BSC's original 62 floor Canopus Tower was never built? I did some digging but still cant find answers.

mrussell83
Apr 3, 2008, 11:58 AM
"Canopus 1" will be 163 metres (535 ft) high and "Canopus 2" will be 117 metres (384 ft) high. The site is alternatively known as "Greengate".

Construction is expected to begin in 2008. Excavation works on the site have already been carried out.

Doozine
Apr 3, 2008, 7:56 PM
Yes I am aware of that project, which is the new proposal. There was another 62 floor 587 ft tower proposed for the site also by BSC. I actually finally found an answer to my own question. The reason why the original tower was never built was because of poor planning and design. So it looks like BSC had the proposal shot down, but then re-tooled it as a multi complex mega site. Id have to say ... thats good problem solving on Bashar Issa's part. He kept with it on this project in England ... and hopefully he will keep with it in Buffalo.

Downtown Bolivar
Apr 4, 2008, 11:40 AM
There's a downtown real estate shuffle coming as Ciminelli grows and looks for space for a new headquarters downtown. They're currently in a prominent historic building...er that I can't think of at the moment. A spokesperson says they are committed to downtown. I got this from watching the business first report on Channel 7. Elizabeth Carey is the only reason to watch that lame-o station anymore.

westcoastperspective
Apr 4, 2008, 1:51 PM
True. Biz First has a story in their print edition out today. Ciminelli LP (the construction biz, not the development side) is looking for 40,000 sq.ft. of space and will stay downtown. Will they really lease from someone other than a Ciminelli, say Uniland? I wonder.

My guess is they'll move into the Waterfront Village project that Ciminelli the developer propsed next to Shanghai Reds (still no word who 'wins' that site). Or, they'll look to buy something. At one time they almost bought the Tishman Building.

They're leaving the Cyclorama Building.

impressingagent
Apr 4, 2008, 6:19 PM
Buffalo State drops plan for off-campus housing in favor of new dorms
By Sharon Linstedt - News Business Reporter
Updated: 04/04/08 10:31 AM


Buffalo State College has scuttled its plans to partner with private developers to create off-campus student housing, and is instead planning to build new dorms on campus.

The college, which last November issued a request for proposals for off-campus apartments to help ease its on-campus housing shortage, fielded plans from nine developers. Those proposals ran the gamut from existing industrial buildings to new-build facilities, and ranged from parcels adjacent to the Buffalo State campus to a site nearly a mile from the Elmwood Avenue school.

http://www.buffalonews.com/145/story/315224.html



it sounds like progress to me. while the student apartments might bring a fun and fresh attitude and provide an interesting reuse of the land. Its two far away from the college to provide a realistic amenity.

westcoastperspective
Apr 5, 2008, 1:25 PM
Since development news is slow locally, behold a crane finally up on Issa's Sarah Tower project in Manchester:

http://skyscrapercity.com/showthread.php?t=256915&goto=newpost

Halovet
Apr 7, 2008, 3:55 AM
Lofty luxury living in downtown Buffalo

Upscale apartment boom in historic city buildings shows no sign of slowing ":tup:

By Samantha Maziarz Christmann - News Business Reporter

Updated: 04/06/08 9:26 AM
http://media.buffalonews.com/smedia/2008/04/06/06/234-bn-20080406-A001-downtownsloftyl-2315-MI0001.standalone.prod_affiliate.50.jpg


Robert Kirkham/Buffalo News
"We walked in and fell in love. Halfway through the hallway, I said, 'We'll take it.'" -- Eileen Fitzgibbons, with Patrick Boyle at the Webb building on Pearl Street.


Cheryl Rozanski basks in the sunlight streaming through her city loft and relishes her downtown apartment.

The high ceilings. The huge windows. The exposed brick.

Nearby, Eileen Fitzgibbons is still giddy about the glass bowl sinks and marble floor in her bathroom.

For both newly minted downtown dwellers, city life was love at first sight.

“You just get that feeling,” Rozanski said. “I said to myself, ‘This is perfect.’”

These are Buffalo’s urban pioneers, a generation of people moving into the trendy historic buildings transformed into living space after years of sitting vacant.

It started six years ago, when First Amherst Development Group turned a few vacant food warehouses into premium loft space at Elk Terminal. Other developers followed, spending more than $90 million to convert century old downtown space into roughly 1,000 modern downtown apartments.

That’s quite a boom, considering just 224 units hit the market in the preceding 23 years.

According to the developers, most of the new apartments are filled, despite monthly rents ranging from $875 to $2,500, prices that resemble local mortgage payments. And the demand for more shows no signs of slowing.

The luxury downtown apartment market — which skeptics said would never take hold — is one that many are hoping will continue to evolve and eventually present opportunities for renters to buy their apartments rather than lease.

The new urban residents include newcomers to the region and locals who have relocated.

Some are transient doctors and research scientists from the city’s medical corridor. Some are lawyers and other professionals who once commuted downtown from the suburbs. Still others are professional athletes.

All thirst for an urban lifestyle and the convenience it brings to an active work and social life.

Rozanski, a predoctoral fellow of immunology at Roswell Park Cancer Institute, is one of them. She gives what she calls the “two-cent tour” of her loft apartment at Elk Terminal on Perry Street.

She points out “the itty-bitty things that make it a little bit snooty.” The cobalt blue lighting fixtures that hover above the glazed concrete counter in her modern, gourmet kitchen. A walk-in closet holding dozens of pairs of jeans and more than 100 pairs of shoes. Her sky-lit canopy bed near the laundry room big enough to hold a washer and dryer, her snowboarding equipment and a fishing pole.

She gushes about attending a John Mayer concert right outside her door at HSBC Arena and how her centrally located pad is the place to be before and after nights on the town.

Down the road is Eileen Fitzgibbons, an exercise science major at the University at Buffalo. She and her boyfriend, Patrick Boyle, a loan officer at Wilco Mortgage Corp., live at the three-month- old converted Webb Building on Pearl Street with their cairn terrier, Lola.

“We walked in and fell in love,” Fitzgibbons said. “Halfway through the hallway I said, ‘We’ll take it.’”

Originally from the Capital Region near Albany, Fitzgibbons and Boyle were “way out in the country” but took frequent trips to New York City. They recognized the best of both worlds in downtown Buffalo.

“The Metro is great. It’s nice to be able to have that extra glass of wine with dinner and not worry,” Fitzgibbons said.

The microbrews of Pearl Street Grill and Brewery, the professional sports at the arena, and the excitement that comes with all that are within a stone’s throw. But Fitzgibbons and Boyle still cherish the quiet nights that come with a city that actually sleeps.

And, while many in the lofts are young professionals just starting out, many others are at the other end of the spectrum.

Topping out around $2,500 per month, the Belesario in the former L.L. Berger Co. department store on Main Street offers top-of-the-line amenities such as whirlpool baths and fireplaces, and tends to attract a more reserved, established crowd — empty nesters and retired couples.

Michael Lalley, 54, a used-car manager at Northtown Jeep, and his wife, Karen, a physical therapist at Roswell Park, moved into the Belesario in May, leaving a Victorian home on Lafayette Avenue where they had lived for years.

The Lalleys love good food, good music and a good time. But, with demanding work schedules, the Lalleys’ spare time was little, precious and usually spent caring for their 110-year-old house.

Their move to the Belesario leaves much more time for Karen’s yoga, their biking and skiing, and trips to places such as Sportsmen’s Tavern and Allen Street Hardware to hear the gypsy jazz they love.

“We are both very happy. It’s much simpler here but still upscale and spacious,” Michael Lalley said. “We went from having all kinds of responsibilities to having none.”

But why go from owning to renting at that stage in life? The Lalleys, like many others, say they weren’t sure they would like living downtown enough to make a major, long-term investment. But, now that they’re sold, they want to buy.

Dixon’s dilemma

Mark Dixon, 43, a software quality assurance engineer for Fisher-Price, was one of the first to lease living space in the Lofts @ Elk Terminal when it opened in 2002. A New York City native, he loved being in the heart of Buffalo. But, when it was time for him to buy a permanent home, he was faced with exorbitant prices for condominiums with the details and amenities he had grown accustomed to at Elk Terminal. His other option was to pay a premium price for older condominiums devoid of the distinctive features and spacious floor plans of the Lofts.

“I would have loved to stay in the city,” said Dixon, who eventually bought a house in the Town of Tonawanda.

Dixon’s dilemma reflects the pent-up demand for mid-priced condominiums first acknowledged in a residential study by Zimmerman/Volk Associates in 2005. Forty-eight percent of downtown renters said they would prefer to purchase their space and build equity.

But, according to Carl Paladino of Ellicott Development Co., building condominiums from the ground up, and especially converting old buildings into them, can be a dicey — and pricey — move.

While condos are profitable in downtown areas outside of Buffalo — those in Pittsburgh fetch between $350 and $400 per square foot — the most developers can hope to reap in the best areas of Buffalo is $150 per square foot, meaning a 1,700-square-foot condo would fetch $255,000 at best. But the high cost of converting historic buildings into modern living space leaves a razor-thin profit margin even along the waterfront and makes development elsewhere almost impossible, Paladino said.

“Compared to other markets, for a developer to convert [current rental space to condominiums] would be foolish,” he said. “They’re better off holding onto it until the market significantly takes hold.”

According to Ben Obletz, president of First Amherst Development Group, newly built condominium structures are more profitable to sell than ones converted from historic buildings. But vacant space is scarce downtown, and new builds might not be the best bet anyway.

“We could build new far cheaper. But would people be as enthusiastic about a new East Amherst- type building downtown versus a historic place with modern living?”

Still, of suburbanites who responded to the Zimmerman/Volk survey, 34 percent cited prohibitive pricing for not making the switch to the city.

“I go to Toronto all the time and see all these big buildings going up, and they’re filled with condos selling for $150,000 to $170,000,” said Dixon. “We need something like that here.”

But Paladino, Obletz and Signature Development’s Rocco Termini agree that Buffalonians are not ready to pay what converted condos away from the waterfront would have to cost — at least $300,000 apiece.

In fact, newly built condominiums at Gates Circle, Waterfront Place and 200 Delaware Ave. are expected to range from $300,000 to $2 million.

Competition from Buffalo’s affordable housing market doesn’t help.

“In other cities you can’t go down the street and buy a house for $160,000, but you can do it in Buffalo,” Termini said.

Still, what attracts renters to the lofts, and a reason they’re now looking toward condominiums, is the maintenance-free lifestyle they offer. But, said Termini, “If there was a market, believe me, someone would be meeting that market.”

And while Obletz said there might be a “smattering” of people willing to pay top dollar, there are not enough to justify converting 100 units into condominiums.

Tax advantages

Obviously, hanging onto a rental property offers higher potential profit over the long run than selling it outright. But it offers better tax advantages, too, said Carole Holcberg, president of Holcberg Ltd. real estate brokerage.

Unlike newly constructed condominiums, rentals have the added benefit of depreciation. Condo sales are also subject to capital gains taxes and are more difficult to finance, since financiers usually want 50 percent of units sold before they will invest. Conversions are a bit easier because the building’s assessment can’t exceed that of a comparable apartment building, while newly constructed condominiums are assessed at full market value.

Either way, Holcberg said, condominiums are difficult to build and sell at a reasonable rate without subsidies. And, while the loft apartments are running almost at capacity for now, their tenancy doesn’t represent new growth but a game of musical chairs being played at the expense of other neighborhoods.

She suggests that more rental space is being built than can be absorbed.

“It’s not like the field of dreams. If you build it, only so many will come,” she said.

Holcberg proposes incentives in the form of subsidies that would bring condominiums to young professionals in the $150,000 price range.

She hopes as rentals near the magic five-year mark, after which converting to condominiums makes more financial sense, more lofts will go up for sale.

And though major developers in the area insist they have no plans to convert, tenants are holding out hope, saying they wouldn’t hesitate to buy.

“I have my fingers crossed,” said Rozanski. “I’d buy it tomorrow.”

schristmann@buffnews.com

Downtown Bolivar
Apr 7, 2008, 6:33 PM
^^^This is where WCP's idea of a new condo midrise downtown would come in. It doesn't explain in the article why developers won't build one--they just keep hitting on how expensive loft conversions are. Why is there a prevailing idea that seems to say that if it's new it belongs in Amherst?

westcoastperspective
Apr 8, 2008, 1:29 PM
755 Seneca is going to be renovated- it is one block from the LCo complex. Neat building.

http://img412.imageshack.us/img412/9025/755seneca2jq8.jpg (http://imageshack.us)

http://www.buffalorising.com/story/rehab_project_expands_larkin_d#sca

BUFFALOVE!!
Apr 10, 2008, 12:01 PM
^^that looks like a great project. and i was shocket about the positive article that the buffalo news wrote the other day about down town living. its been a good past few days (minus the statler) :(

westcoastperspective
Apr 10, 2008, 1:45 PM
Niagara Street building could be Buffalo's next waterfront housing
Sharon Linstedt - News Business Reporter

Buffalo developer Carl Paladino has purchased a former industrial building overlooking the Niagara River with plans for high-end housing.

The Ellicott Development executive plans to convert the vacant, four-story building, 960 Busti Ave. at Niagara Street, into luxury housing and offices. Paladino bought the building from Ciminelli Development Co. in an $850,000 deal that also includes an empty manufacturing plant/warehouse at 1050 Niagara St.

"It has strong potential for high-end residential. The location is great, the views across the river are spectacular," Paladino said of the Busti Avenue structure.

The building sits above the Niagara Thruway providing unique views of the Niagara River, Lake Erie and the Canadian shoreline.

Paladino, whose portfolio includes renovation of the former L.L. Berger department store on Main Street and the former University Club on Delaware to luxury apartments, said the Busti Avenue building could house approximately 16 residential units.

http://buffalorising.com/story/carl_makes_a_purchase#sca

westcoastperspective
Apr 11, 2008, 1:22 PM
Amherst Town Center-

http://img525.imageshack.us/img525/2429/atcenterel5.png

steel
Apr 11, 2008, 6:05 PM
We'll see. That rendering would make this development better than what they do in Sacramento and we all know It is impossible for WNY to do anything better than anyplace else.

BUFFALOVE!!
Apr 12, 2008, 12:38 PM
amherst can blow me

mrussell83
Apr 13, 2008, 1:03 PM
amherst can blow me

Double what he said :tup:

BUFFALOVE!!
Apr 17, 2008, 12:52 PM
does anyone have any new pictures of the progress on 200 delaware ave and the federal court tower? i´m on the other side of the pond right now and i would love to see whats going on. plus is there any word on the gates circle condo tower? isnt there a chance it might start soon or am i making that up?

MJW
Apr 17, 2008, 2:40 PM
Double what he said :tup:

I triple it! ;)

MJW
Apr 17, 2008, 2:41 PM
does anyone have any new pictures of the progress on 200 delaware ave and the federal court tower? i´m on the other side of the pond right now and i would love to see whats going on. plus is there any word on the gates circle condo tower? isnt there a chance it might start soon or am i making that up?

I heard the Gates Circle project will start in '09. Not sure when in '09 or if thats 100% accurate.

buffaLOVE
Apr 17, 2008, 8:26 PM
I just heard about the property at 1040 Delaware Avenue. Is it possible for mid/high rise building to go up at this location? Thanks

westcoastperspective
Apr 17, 2008, 9:31 PM
Something mid-rise at least- there's a hodgepodge of mid-rise to taller buildings nearby- it isn't adjacent to single-family, but it is relatively narrow and deep. Hopefully not townhouses.

http://img294.imageshack.us/img294/5933/1040ia9.png

BUFFALOVE!!
Apr 18, 2008, 12:16 PM
a mid rise would be nice. it would be cool if buffalo had a mid-town. plus driving down delaware it would be nice to look at somthing else other than those towering teal hideous apartment towere. how were those ever approved to go onto delaware?

westcoastperspective
Apr 18, 2008, 1:45 PM
I could see something 7-10 stories fronting Delaware and a couple blocks of townhouses at the rear of the property. Put parking underground.

steel
Apr 18, 2008, 6:34 PM
I could see something 7-10 stories fronting Delaware and a couple blocks of townhouses at the rear of the property. Put parking underground.


I like it and give my stamp of approval to your plan

sullymon54
Apr 19, 2008, 5:39 PM
courthouse progress and 200 delaware

http://inlinethumb13.webshots.com/42508/2955425510066366662S600x600Q85.jpg (http://good-times.webshots.com/photo/2955425510066366662TcyQMz)

http://inlinethumb42.webshots.com/36713/2813127750066366662S600x600Q85.jpg (http://good-times.webshots.com/photo/2813127750066366662mVGate)

http://inlinethumb17.webshots.com/40784/2707535510066366662S600x600Q85.jpg (http://good-times.webshots.com/photo/2707535510066366662DScglD)

http://inlinethumb18.webshots.com/40465/2868073770066366662S600x600Q85.jpg (http://good-times.webshots.com/photo/2868073770066366662kTzmdF)

http://inlinethumb60.webshots.com/18043/2348238660066366662S600x600Q85.jpg (http://good-times.webshots.com/photo/2348238660066366662SXsHBB)

I can get some better ones of 200 delaware probly later next week

Austinlee
Apr 19, 2008, 7:29 PM
Great photo:

http://inlinethumb60.webshots.com/18043/2348238660066366662S600x600Q85.jpg

Halovet
Apr 21, 2008, 8:36 AM
Hey, Uni~Gov talk is going on again, but this time, in Albany. :whatthefuck: :fingerscrossed:

Buffalo and WNY need this yesterday!:yes:


http://www.buffalonews.com/home/story/327386.html

BUFFALOVE!!
Apr 21, 2008, 11:58 AM
Hey, Uni~Gov talk is going on again, but this time, in Albany. :whatthefuck: :fingerscrossed:

Buffalo and WNY need this yesterday!:yes:


http://www.buffalonews.com/home/story/327386.html

Yes Yes Yes. merge everything and fire half of the local gov´t workers. one example...there is no reason why there needs to be town of hamburg and village of hamburg highway departments.

all of erie county should be the city of buffalo. sprawl can be stopped and govt spending can be cut

BUFFALOVE!!
Apr 21, 2008, 12:00 PM
Great photo:

http://inlinethumb60.webshots.com/18043/2348238660066366662S600x600Q85.jpg

yes great photos. i cant wait to go home and see the progress myself. does anyone know when the new glass is going to start going up on 200 delaware? have they finished removing all the concrete?

Doozine
Apr 21, 2008, 10:11 PM
Ok so I was just on emporis's buffalo page and they have 33 Gates Circle listed as approved. When did this happen? Catch me up.

Downtown Bolivar
Apr 22, 2008, 7:35 AM
^^^I'm pretty sure it's been approved for a while, but it recently survived a lawsuit from some curmudgeons next door. I think site prep might start this fall.

Halovet
Apr 22, 2008, 10:53 AM
Ok so I was just on emporis's buffalo page and they have 33 Gates Circle listed as approved. When did this happen? Catch me up.

http://buffalorising.com/story/breaking_gates_tower_lawsuit_d#sca :tup:

Wigs
Apr 24, 2008, 7:09 AM
Great photo:

http://inlinethumb60.webshots.com/18043/2348238660066366662S600x600Q85.jpg

from the other side:

http://img170.imageshack.us/img170/9056/200delaware21th5.jpg

BUFFALOVE!!
Apr 24, 2008, 12:31 PM
^^ that looks so cool

sullymon54
Apr 25, 2008, 5:53 PM
Main Street under construction between Hertel and Amherst.
http://inlinethumb44.webshots.com/24619/2825205510066366662S600x600Q85.jpg (http://community.webshots.com/photo/2825205510066366662JAKLZK)

http://inlinethumb16.webshots.com/13455/2265622580066366662S600x600Q85.jpg (http://community.webshots.com/photo/2265622580066366662fSSuQJ)

http://inlinethumb55.webshots.com/42166/2426307700066366662S600x600Q85.jpg (http://community.webshots.com/photo/2426307700066366662YtKohx)

Not really a big deal in an of itself but look at this last picture. It is a pile of wooden ties and steel rails that were dug out of several layers of asphalt, what remains of Buffalo's energy efficient transportation system (aka the trolley). It's just sad to see us ignoring something that was so successful 110 years ago when fuel was cheap as compared to now when its the most expensive its ever been.

http://inlinethumb04.webshots.com/42883/2042282570066366662S600x600Q85.jpg (http://community.webshots.com/photo/2042282570066366662WWjEOU)

westcoastperspective
Apr 26, 2008, 1:50 PM
Keep the photos coming Sully!

westcoastperspective
Apr 28, 2008, 9:04 PM
Issa troubles in England.

http://www.crainsmanchesterbusiness.co.uk/apps/pbcs.dll/article?AID=/20080428/FREE/578687875/-/-/grinding-to-a-halt

Grinding to a halt
Projects hit the buffers as developers struggle to raise finance

Several commercial and residential schemes in Manchester have come to a standstill or may even be scrapped as developers struggle to attract funding from nervy lenders.

One Manchester-based property developer has been forced to appoint a corporate restructuring firm as the financial strain of a number of part-finished projects appears to have taken its toll.

BSC Group, led by chief executive Bashar Issa, has appointed Matlock-based Bramley Carrington to unlock funds in its only finished development, Issa Quay.

A letter from Bramley Carrington to one of the company's creditors, who wished to remain anonymous, said BSC Group was suffering from “financial difficulties and severe cashflow problems” and had “limited liquidity”. It said that although BSC Group had limited available funds, it had equity in assets, naming Issa Quay.

Savills has been appointed to sell apartments within Issa Quay, which BSC's lenders have valued at between £15m-£19m. As each unit is sold, funds will be distributed to creditors. However, if creditors do not agree to that course of action, the bank will appoint its own administrators, according to the letter from Bramley Carrington.

Work on BSC Group's Canopus Greengate project has stopped and the future of the deserted site is uncertain. The group's Sarah Tower skyscraper on Dale Street is also under construction but the build has progressed slowly since work started in 2005. Crain's tried to contact Issa, but he did not return calls.

____________

Looks like several developers in Manchester are struggling. What this means for Buffalo? Who knows. :shrug:

westcoastperspective
Apr 28, 2008, 11:44 PM
But getting closer to signing Wyndham for the Statler. This is crazy. :haha:

Doozine
Apr 29, 2008, 1:57 AM
Like I said. BSC is the 91 Bills of real estate, and Bashar Issa is Scott Norwood. Its up! It has the distance! WIDE RIGHT!!!

Downtown Bolivar
Apr 29, 2008, 6:06 AM
The makeover of the bus terminal looks good--although the image is a little small. (via Buffalo News)

http://media.buffalonews.com/smedia/2008/04/28/07/961-171-0428sketch.embedded.prod_affiliate.50.jpg

I agree with a BRO poster that wayfinding signage to and from the station to various points around downtown should be part of the upgrade. It would be great if the city could capitalize on the bus station the same way the region is capitalizing on the airport. It's especially important now that Megabus is coming--it could be the equivalent of bringing Southwest to the airport.

Nickelplate
Apr 29, 2008, 7:05 PM
Like I said. BSC is the 91 Bills of real estate, and Bashar Issa is Scott Norwood. Its up! It has the distance! WIDE RIGHT!!!

I guess I'll be the one to tell you to never speak of this moment in history on this thread again.

BUFFALOVE!!
May 2, 2008, 12:34 PM
not development related but i love how byron brown cant find enough cops to have foot patrols in the elmwood village, allentown or downtown but can send 70 cops and a s.w.a.t. team to babysit canisius college´s spring fest (quad party). what a joke and waste of money.

MJW
May 2, 2008, 1:26 PM
not development related but i love how byron brown cant find enough cops to have foot patrols in the elmwood village, allentown or downtown but can send 70 cops and a s.w.a.t. team to babysit canisius college´s spring fest (quad party). what a joke and waste of money.

I heard about that too. He needs to stop being such a tight ass and just go down there himself and have some fun. If that was Jimmy Griffin, he'd be there shirtless yelling for more Yagerbombs. :D

But seriously, that's the hypocricy of Lord Byron and City Hall.

westcoastperspective
May 2, 2008, 1:36 PM
http://img379.imageshack.us/img379/6435/salv2yp4.png

:jester:

Downtown Bolivar
May 2, 2008, 3:29 PM
^^^I like how Salvatores and Rick's Tally Ho are so close to each other. The jewels of WNY indeed!

westcoastperspective
May 4, 2008, 2:21 AM
Two renovation projects I put up on Buffalo Rising this week:

723 Main-
http://img403.imageshack.us/img403/184/723mainwo5.png

5 E. Huron-
http://img403.imageshack.us/img403/149/5easthuronexterioruo9.jpg

BUFFALOVE!!
May 8, 2008, 12:47 PM
http://www.buffalorising.com/img/img_entries/w600/19755.jpg
from buffalorising

I´m so glad this sort of stuff is going on. this project was an A++++++

I hope the genesee rehab is on par. the webb building looks stunning.

p.s. is the 500 block of main st. project dead? that would have been epic

westcoastperspective
May 8, 2008, 7:52 PM
Hey all of you downtown-boosters-

Does anyone want to help with the Downtown Housing Tour on June 28th? CityView Development is looking for someone to hand-out information on their Genny Block project, show off the rendering, talk about the buildings, etc. They'll give a volunteer 'training' and materials. They do not have anyone available that day. Send me a private message if interested.

impressingagent
May 13, 2008, 2:35 AM
Queen City Landing takes off at Freezer Queen site
The central Freezer Queen site could become a waterfront catalyst

Updated: 05/12/08 10:36 AM

Here’s hoping history repeats itself. Preliminary blueprints for a pioneering outer harbor residential/ hotel project have been submitted to the Buffalo Planning Board, marking the potential start of efforts to reclaim the largest undeveloped stretch of city waterfront. A similar private-enterprise start by developers a few years ago triggered a wave of downtown residential development; a similar role for the Queen City Landing project could mean a solid start for long-awaited shoreline reuse.

http://www.buffalonews.com/149/story/344580.html


It also includes a nice little video. I have to agree about the potential of this project. Though it would be nice if he could just stick to doing the freezer queen space and save the rest of his plans for downtown.