On Monday morning, standing at a podium placed at 901 Fuhrmann Boulevard, Congressman Brian Higgins said it was a "historic day in Buffalo."
The Erie Canal Harbor Development Corporation (ECHDC) accepted the acquisition of land known as the Port Terminal Complex from the NFTA.
The deal comes nearly 50 years after the NFTA became the owner of terminal A and B in 1957. This 50-acre sale costs ECHDC $3.5 million.
Since 2002 Congressman Higgins has played a vital role in revitalizing the outer harbor. At Monday's press conference he said terminal A and B should support the population boom downtown.
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"I think a mix of residential, there's a great great demand," said Higgins. "The fastest growing neighborhood in western New York is downtown Buffalo, so I think there's great demand for residential and commercial mix-use development to support that residential component."
Higgins said the transfer of land now takes the NFTA out of the land business. The transfer has yet to be finalized by the Empire State Development Board of Directors.