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Some go back to 2015 & 2016 And 99.999% are 100% or heavy publicly funded and are schools, Hospitals or residental, Not many or not any at all are bringing new jobs, new industry, or private investment, If a Market has very little to no private investment, no new good jobs other then Public sector jobs it's in a big trouble and something is seriously wrong.
All the Investment in the City of Buffalo is public funds for low income housing, training programs for low income and refugees, parks, bike paths, bus stop shelters, etc....
Build WNY: From the big, to the medium, to the small
Business First continues to track the scores of economic development projects rising around the metropolitan Buffalo area. Once again, that tab is in the billions. Here's a look at the range of work being done, the cost and the expected finish.
Big ticket projects ($100 million and up):
• Eastern Hills Mall - conversion into town center — $250 million- developers: Uniland Development/Mountain Development Co. — 2020 completion date (first phase)
• One Seneca Tower — Redeveloping office building into mixed-use destination- $120 million — Douglas Development Co. — 2019 (first phase)
• Elmwood Crossing — conversion of former Women and Children’s Hospital of Buffalo into mixed-use urban development — $100 million- Ellicott Development Co./Sinatra & Co. Real Estate — 2019 (first phase)
Mid-range developments ($40 million to $100 million):
• 500 Pearl — Mixed use urban development — $75 million — Ellicott Development Co.- 2019 completion
• AMA&As (Main Street) — Department store into 300-room Wyndham hotel — $70 million — Landco H&L- 2019 completion date
• Erie County Medical Center — New emergency room — $50 million — ECMC - 2020 completion date
Medium-range developments ($20 million to $40 million):
• Labatt House/The Draft Room — Labatt USA headquarters, restaurant, brewery — $40 million — Pegula Sports & Entertainment — 2018 (first phase)
• Rails on Main — Student housing (2929 Main Street) — $35 million — DF Fusion -2019
• The Grid — 215 apartments (Main & Dodge) — $25 million — Cedarland Development — 2020
Small developments ($1 million to $20 million):
• Marriott Residence Inn (620 Delaware Ave.) — new hotel- $20 million — Buffalo Lodging Associates — 2018
• The Cooperage — Chicago Street mixed-use development — $16 million — Ellicott Development - 2019
• Knopp-Hailpern Center — STEM building — $5 million — Park School of Buffalo - 2019
Build WNY: From the big, to the medium, to the small
Business First continues to track the scores of economic development projects rising around the metropolitan Buffalo area. Once again, that tab is in the billions. Here's a look at the range of work being done, the cost and the expected finish.
Big ticket projects ($100 million and up):
• Eastern Hills Mall - conversion into town center — $250 million- developers: Uniland Development/Mountain Development Co. — 2020 completion date (first phase)
• One Seneca Tower — Redeveloping office building into mixed-use destination- $120 million — Douglas Development Co. — 2019 (first phase)
• Elmwood Crossing — conversion of former Women and Children’s Hospital of Buffalo into mixed-use urban development — $100 million- Ellicott Development Co./Sinatra & Co. Real Estate — 2019 (first phase)
Mid-range developments ($40 million to $100 million):
• 500 Pearl — Mixed use urban development — $75 million — Ellicott Development Co.- 2019 completion
• AMA&As (Main Street) — Department store into 300-room Wyndham hotel — $70 million — Landco H&L- 2019 completion date
• Erie County Medical Center — New emergency room — $50 million — ECMC - 2020 completion date
Medium-range developments ($20 million to $40 million):
• Labatt House/The Draft Room — Labatt USA headquarters, restaurant, brewery — $40 million — Pegula Sports & Entertainment — 2018 (first phase)
• Rails on Main — Student housing (2929 Main Street) — $35 million — DF Fusion -2019
• The Grid — 215 apartments (Main & Dodge) — $25 million — Cedarland Development — 2020
Small developments ($1 million to $20 million):
• Marriott Residence Inn (620 Delaware Ave.) — new hotel- $20 million — Buffalo Lodging Associates — 2018
• The Cooperage — Chicago Street mixed-use development — $16 million — Ellicott Development - 2019
• Knopp-Hailpern Center — STEM building — $5 million — Park School of Buffalo - 2019
CK, what about projects that will bring much needed jobs to the area? I don't see any in your post. No convention center to bring more folks downtown, no businesses relocating from different areas.
In similar news: Bank on Buffalo headquarters nears completion
Bank on Buffalo is getting closer to calling the seventh floor of the city's Electric Tower home.
By the end of the year, the startup lender expects to relocate 15 employees – a mix of administrative, commercial lending and wealth management personnel – to its new regional headquarters at 535 Washington St. As many as 60 staffers could someday be housed in the former executive offices of Niagara Mohawk, which have sat vacant for at least 14 years.
During a tour this week, Bank on Buffalo President Martin Griffith said furnishings are set to be installed by late December. The bank will lease and build out all 15,000 square feet, but initially occupied just one-third of that space, leaving room to grow.
"We feel very strongly that this is going to be a $1 billion division of the holding company and we have found that the positions we need ... may not always need to be housed in Clearfield, Pennsylvania," Griffith said. "We continue to feel very fortunate to attract (local banking) talent and we believe that some of those key leadership positions may be housed in Buffalo."
Bank on Buffalo is operated by CNB Bank, the banking subsidiary of CNB Financial Corp. (NASDAQ: CCNE) in Clearfield. It entered the market during a period of disruption and initially set out to capture small and mid-sized businesses as clients.
Today it is a full-service bank that employs 48 and operates four offices in two counties, with a fifth site expected to be announced in coming weeks. Assets topped $250 million on Nov. 1, while deposits currently total $298 million, Griffith said.
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