BUFFALO, NY (WKBW) — The next step in the ongoing redevelopment of the iconic Central Terminal in Buffalo’s Broadway-Fillmore community was announced on Wednesday.
It is all part of a larger $300 million redevelopment plan that is underway in phases. The Central Terminal Restoration Corporation has introduced a developer who will transform two buildings alongside the main terminal.
“We're on momentum, we're doing it," said James Morrell, chair of the Central Terminal Restoration Corporation. "This is something that we've been waiting for a long time, and it's happening."
If you're wondering what's happening with the project, there is visible construction on the main concourse building and plaza. It’s phase two of a $33 million project to make repairs for redevelopment to begin.
“The public may not see what's happening with this construction, but what it's doing is it's getting ready for the developer to come in,” Morrell explained.
"I believe that it represents our past and it symbolizes our future,” said developer Ben Upshaw.
Upshaw, of CB Emmanuel Realty, has been selected to redevelop the former post office and baggage building that is part of the Central Terminal property. They will be redeveloped into residential housing, commercial space, and even light industrial.
“We think those uses are appropriate for the site," Upshaw said. "We'll be looking forward to submitting a concept paper to the state later this year, in the hopes of starting construction in the next one to two years."
Given the current economic climate for developers, with tough financing and higher construction costs, the developer was asked how he would accomplish this project. Upshaw said he will apply for brownfield and historic tax credits.
“The way to kind of do this is to maximize each building, to get the maximum amount of tax credit per building versus per project, and to phase it by phasing it will be able to handle,” Upshaw said.
Construction could begin in about two years on those buildings. Upshaw estimated the project could cost about $80 million. He said he still needs to hire a construction manager and submit concept papers for a design.
After past attempts to redevelop the historic site, project leaders promise that this entire $300 million project, conducted in phases over the next 10 years, will bring people back to this famous concourse.
“This building is being worked on, right?" Morell said. "At some point, mid-27, our goal is to activate the concourse, to have events. To be able to drive up on top of the parking garage, drop the people off, and have events in this concourse."
Asbestos removal continues in the main building, and work on the outside plaza is underway with masons working on brick and stone.
