When Pegula Sports and Entertainment inked a one-year lease for an upper floor of One Seneca Tower, many thought it was a sign that Terry Pegula was interested in purchasing and redeveloping the nearly vacant skyscraper. There were rumors that Pegula was indeed interested in acquiring the tower and consistent word from Pegula officials that they were not. Despite the denials, many downtown officials remained hopeful that Pegula was only keeping his cards close to his vest.
Now, tea leave readers will be busy deciphering what Pegula Sports and Entertainments imminent move to The Fairmont means. Ellicott Development Company is negotiating with Pegula Sports to move into 15,000 sq.ft. of space on the second floor of the recently completed mixed-use project at 199 Scott Street.
A significant revamp of One Seneca would likely require the building be emptied of tenants. Pegula Sports & Entertainment leased 17,348 sq.ft. on One Seneca’s 31st floor last July. Since the building is in foreclosure, it was a one-year lease. Pegula Sports is expected to move into its new space at 199 Scott Street this summer.
At The Fairmont, office space is located on the building’s second, sixth, seventh and eighth floors, thirty apartments are now leasing on floors three through five, and a restaurant and other commercial tenants are planned for the ground floor. There will be on-site parking for 140 vehicles. Silvestri Architects designed the project.
Entry image courtesy of Ellicott Development