Common Council Tours Lafayette Hotel

January 12, 2012 Updated Jan 12, 2012 at 6:27 PM EDT

By Kyla Igoe

January 12, 2012 Updated Jan 12, 2012 at 6:27 PM EDT

Buffalo, NY (WKBW) - Buffalo Common Council Members toured the Historic Lafayette Hotel in Downtown Buffalo Thursday. The members were invited by owner and developer Rocco Termini who is completely restoring and renovating the building. The $42 million project is 60 percent complete and is projected to be finished by May of 2012. Once open, the building will house banquet facilities, residential apartments, commercial space, and a boutique hotel. Termini says the plans will also create jobs, businesses, and tourism to Downtown Buffalo. The developer also noted the importance of historic tax credits to keep the project on track, and says without them, it would be impossible to finish the meticulous renovations.

"It's going to be a one stop wedding destination," said Termini. "We have 25,000 square feet of banquet space, boutique hotel, jeweler, tuxedo store, bakery, and even a florist."

Termini is also seeking to purchase a city-owned alley that runs along the hotel so he can building outdoor decks for banquets.