Canadian developer's $100 million plan to redevelop Central Terminal is dead

Urban Land Institute will conduct new study
Posted at 3:35 PM, May 05, 2017
and last updated 2017-05-05 16:35:27-04

It's back to the drawing board for supporters of the Buffalo Central Terminal. 

Just weeks after the terminal was nixed as a possible location for Amtrak's new station, the nonprofit group that controls the terminal said a Canadian developer's $100 million plan to develop the East Side landmark is dead.

The Central Terminal Restoration Corp. announced Friday in a news release that its designated developer agreement with Harry Stinson's JSK International will not be renewed when it expires May 24. 

“We would like to thank Harry Stinson and his team for the work they put in over the last 12 months and the passion they have for the Central Terminal,” said Jim Hycner, chairman of the nonprofit board. “We feel at this time that it’s in the best interest of the building, our members and volunteers and our East Side neighbors to pursue a different direction for the ultimate redevelopment of the Central Terminal.”

Instead, the Urban Land Institute has agreed to conduct a study by June 30 on future uses of the building. The national real estate organization has performed similar studies on the Richardson Olmsted Complex and One Seneca Tower.

A panel of city leaders recently recommended a downtown site near Canalside -- instead of the Central Terminal -- to replace the aging Amtrak station downtown.

Stinson told 7 Eyewitness News over the phone on Friday that the decision was, "a complete shock to us," adding that he felt completely blindsided by the announcement.