BUFFALO, N.Y. (WKBW) — Ellicott Development has made a $1 offer to buy the Perry Street housing property after years of vacancy.
Carl Paladino, the founder of Ellicott Development, said he believes he can turn the run-down properties into something more valuable.
We've built a lot of stuff down there, and we could do a lot more for that neighborhood if we were able to get this property and blight out of the way," he said.
His goal is to turn the properties into mixed-use developments.
The city has estimated the demolition cost around $10 million. Paladino said he would be doing a favor for the city if they accepted his offer.
"It's a handsome reward for the city in not having to spend the 10 million dollars to knock the buildings down."
The Perry Street properties are comprised of 53 two- and three-story buildings. It's located near the Cobblestone District that has been a proposed site of the potential new Bills stadium. Paladino stands to gain a lot if the Bills do relocate there instead of Orchard Park because he owns many properties in that area. The addition of the Perry Street units would reemphasize that.
As to why he offered a dollar, "I offered them a dollar and I offered them that ill take the buildings down... Well, I could ask them to give me money to take it."
The BMHA said that it would not comment on unsolicited offers. It does plan on entertaining offers and ideas for the property, but director Gillian Brown said he doesn't know when that will be.