Looks like Bashar Issa’s City Tower project is officially dead. The Manchester-based developer sold the surface parking lot at 85 W. Mohawk Street today for $2.1 million to Elmo Development LLC. With great fanfare, Issa proposed what was to be Buffalo’s tallest building for the property and purchased the site on May 31, 2007 for $1 million.
Issa’s BSC Group’s $360 million City Tower project was to include street-level shops, a half million square feet of office space on the lower twenty floors, 300 hotels rooms on the middle floors, topped by 80 condo units on the upper ten floors. The overly-ambitious developer with financial troubles in England and locally, has struggled to complete restoration plans for the nearby Statler.
According to State records, Elmo Development, LLC has a 257 Franklin Street mailing address. Apparently Mark Croce has just expanded his parking empire.