A new beginning could be right around the corner for Buffalo's Central Terminal.
A developer from Canada is interested in redeveloping the old train station and has signed a letter of intent according to Paul Lang, the Vice-President of the Central Terminal Restoration Corporation.
"I would say that everyone is cautiously optimistic," said Lang. "We have gone through these types of procedures before with other developers and other opportunities. The reason we feel a little different this time around is because the organization is in a better spot, more prepared to participate and be a true partner in trying to advance the project."
The developer is considering turning the property into a mix of residential, commercial, and entertainment space, with the possibility of restoring train service. Lang estimates bare bones restoration of the Central Terminal would cost between $70 and $100 million.
Lang says the project is in its very early stages and the six month window of the letter in intent will allow studies and other project details to be hammered out before any agreement is made to move forward.
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