Paladino again eyes downtown office project

October 21, 2011 Updated Oct 21, 2011 at 5:59 AM EDT

By WKBW News
By Business First by James Fink, Buffalo Business First Reporter

...
October 21, 2011 Updated Oct 21, 2011 at 5:59 AM EDT


Developer Carl Paladino is reviving his plans to construct a multi-tenant office tower along Court Street in downtown Buffalo.

Sources said Paladino will be meeting with Buffalo officials in the next few days to discuss renewing his designated developer status for a surface parking lot at the corner of Court and Pearl streets. Paladino's company, Ellicott Development Co., already owns a neighboring parcel at Court and Franklin streets which is also being used as a surface parking lot.

Originally, Paladino was proposing an 11-story, 300,000-square-foot building that would have included Class A office space and a hotel along with underground parking. Those plans were put on hold more than two years ago when the economy softened.

But, now with increased interest in downtown Buffalo office space, Paladino is turning his interest back to the project.

Sources indicated the new building may be seven stories and have slightly more than 200,000-square-feet. No tenants have been mentioned.

Paladino hopes to meet with representatives from the Buffalo Urban Renewal Agency and Mayor Byron Brown's office about securing designated developer status for the property. Paladino had been previously approved as designated developer for the parcel by BURA and the Brown administration.

If approved and if the proposed anchor tenant signs with Paladino, construction could start within the next year.

The site is a little more than a block away from Statler City, which is undergoing a massive renovation. The developer of that project, Mark Croce, is seeking a $5.3 million allocation from New York state for the work. Paladino is vehemently opposed to the funding.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.