ORCHARD PARK, N.Y. (WKBW) — New York State has released the Buffalo Bills stadium study conducted by AECOM that will be used to inform stadium negotiations.
According to the study, it will cost $862 million to renovate the current stadium and $1.354 billion to build a new stadium next to the current site.
It was recommended that the Bills, state and county proceed with options for a new stadium over renovating the existing stadium.
The two main areas of land considered in the study for a new stadium are the South Park site in Buffalo, as well as parking lots 3 and 4 at the current location in Orchard Park.
A downtown stadium would occur additional costs such as land acquisition and infrastructure improvements. Building a stadium downtown could add an additional $350 million to the price tag.
The study found both the Orchard Park and downtown sites have limited potential to attract significant real estate investment. Investments in infrastructure surrounding a downtown stadium could potentially result in increased property values estimated to total approximately $53 million over the next 30 years.
In total, the study says a new stadium in downtown Buffalo could cost about $2.1 billion.
The Bills currently generate $27 million a year in revenue for the city, county and state. If the Bills were unable to reach an agreement on a new stadium and leave the market, this revenue would be lost.
Empire State Development is pleased to present the completed AECOM Bills’ stadium analysis. We are confident that the results of this analysis will be a valuable tool as the State, Erie County and the Buffalo Bills work together to make sure the team remains in the region in a facility that Bills fans and all New Yorkers can be proud of for years to come.
The Bills have offered no comment on the release of the study, Pegula Sports & Entertainment said the team is reviewing the report.
The team's current lease at Highmark Stadium expires in July of 2023.
Read the full 91-page report here: