Downtown has undergone a transformation in recent years. The number of buildings finding new life as residential spaces was only dreamed of a decade ago. Today, there are few “obvious” residential conversion candidates left. There seem to be more office tenants relocating into downtown than out. Restoration of downtown’s two grand hotels- the Statler and Lafayette- are significant preservation and city successes. That doesn’t mean there isn’t room for improvement downtown. Newell had a wish list for Elmwood, here’s mine for downtown in 2012:
v A successful opening of the Lafayette Hotel and a quick lease-up so Rocco Termini can apply his magic to the AM&A’s Department Store or other properties. One thing is for sure, Rocco doesn’t sit still for long.
v Buyers for the remaining residential units in Pasquale and Avant. Each project has had steady sales with about a dozen unsold but mostly rented condos in Pasquale and just six high-end units left at Avant. Both Uniland and Ellicott Development have plans for additional condos, but are unlikely to proceed if they have unsold inventory.
v Pegula & Co. use their influence and/or money to advance development in the Cobblestone District and Canalside. Development hopes at the foot of Main have long been tied to the casino and tripping over ourselves to land Bass Pro. With Canalside making strides this year and next, it’s time to start filling in the neighborhood.
v Continued success for Mark Croce and his efforts to redevelop the Statler. 2012 should see plans unveiled for the remaining space at the base of the building. Attention may then turn to bringing hotel, office and residential space to upper floors.
v Plans for restoring, not demolishing, the Trico complex in the Buffalo Niagara Medical Campus.
v An announced decision by HSBC to retain, shrink or vacate its space in HSBC Center long before the end of its lease in 2013. If the bank is putting a big chunk of space on the market in downtown’s largest building, the more time to prepare the better. Developers and bankers do not like market uncertainty.
v More building owners on the 500 block of Main willing to sell and capable buyers ready to finish redevelopment of this key downtown block.
v Another wave of residential projects starting such as Hager Mills Lofts, 916-18 Main Street, Turner Bros. building on Niagara Street, Lake Hotel, the Cooperage, and Graystone.
v Restaurants and retail. Benderson has plans for retail space at Canalside but buildings throughout downtown are retail and restaurant-ready today. Will 665 Main and the Ya-Ya Brewhouse space in the Theater District finally get tenants?
v More streetscape improvements. Work to bring cars back to the 600 block of Main Street will start next year and funding was secured to improve the streetscape around Genesee Gateway and along Chippewa Street. Most everywhere else downtown could use similar treatment. Start “lighter, quicker and cheaper” with more street trees in adequately-sized wells to support more than lollipop trees.